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    Retail Space with High Visibility Title is generated by Realmo AI

    1312 W Lincoln Highway, Schererville, IN 46375

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    Claim this Listing
    For Sale
    $699,000

    SINGLE_FAMILY - Schererville, IN

    Type:Retail
    Property size:
    3,850 SF
    Lot size:
    0.93 Acres
    Price / SF:
    $181/SF
    Added:
    Feb 8, 2026
    Days on Market:
    103
    Last Refresh:
    May 22 at 2:06 am

    Property Features for 1312 W Lincoln Highway

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Rooms
    Basement
    Parking
    7739
    Interior features
    Open Floorplan
    Standard status
    Active
    APN
    451117126010000036
    Size
    3,850 SF
    Lot size
    0.93 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    E. 100 FT. OF W. 525 FT. OF PT NE NW N. OF LINCOLN HWY EX. N. 450.01 FT. S.17 T. 35 R.9 .93 AC
    Tax Annual Amount
    6743

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1956

    We can help!

    Listing Contact
    Jeff McCormick
    Jeff McCormick

    Listing agent Jeff McCormick License #RB14033291

    Listing office McCormick Real Estate, Inc. 756 N. Madison St, Crown Point, IN

    Listing date Feb 8, 2026

    MLS# 833760

    Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High foot traffic location with strong income potential.
    • Convenient, easy parking and excellent visibility near US‑30 & US‑41.
    • Two private bathrooms.
    • Break room/storage area with washer/dryer hookup.
    • Open floor plan.
    • Public water and sewer.

    Overview

    This commercial space offers a bright and clean environment suitable for various business ventures, appealing to both owner-operators and investors. The property includes two private bathrooms and a break room/storage area equipped with washer and dryer hookups. It benefits from high foot traffic, suggesting strong income potential. Convenient parking and excellent visibility enhance its appeal, with proximity to US-30 and US-41. The property is located in Schererville, Indiana, within Lake County. The lot size is 0.93 acres, and the property size is 3,850 square feet.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $412.2K
    NOI $37,100 @ 9.00% cap · cautious / downside scenario
    Moderate
    $530.0K
    NOI $37,100 @ 7.00% cap · market / base-case scenario
    Aggressive
    $742.0K
    NOI $37,100 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Retail

    Component $ $/SF
    Gross rent $55.4k $14.40
    − Vacancy −$2.4k −$0.63
    EGI $53.0k $13.77
    − OpEx −$15.9k −$4.13
    NOI $37.1k $9.64
    3,850 SF · lease $14.40/SF/yr · vacancy 4.40% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $530.0K
    $463.8K – $618.3K (±1% cap)
    NOI $37,100 @ 7.0% cap · market cap 5.31%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $1.07M
    $940.4K – $1.25M (±1% cap)
    NOI $75,234 @ 7.0% cap · market cap 10.76%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Schererville
    County
    Lake
    State
    Indiana
    Longitude
    -87.483636
    Latitude
    41.491673

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    FAQs

    What type of property is this?
    Retail space - Commercial space with high foot traffic and income potential.
    Where is this retail space located?
    The property is located at 1312 W Lincoln Highway Schererville, IN.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: High foot traffic location with strong income potential.; Convenient, easy parking and excellent visibility near US‑30 & US‑41.; Two private bathrooms.
    (219) 613-5643
    We can help!
    Listing Contact
    Jeff McCormick
    Jeff McCormick
    Real Estate License ID: RB14033291
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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