Freestanding Storefront with Open
For Sale
$698,500
1312 W Lincoln Highway, Schererville, IN 46375
Commercial Sale, Schererville, IN
Property Size3,850 SF
Lot Size0.93 Acres
Price / SF$181.43
Days on Market215
Property Features for 1312 W Lincoln Highway
General Information
Property type
Commercial Sale
Property subtype
Retail
Rooms
Basement
Parking
7739
Interior features
Open Floorplan
Directions
US 30 just east of US 41 on the north side.
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
Legal 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
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1956
Listing Agency:
McCormick Real Estate, Inc.
(219) 663-9300
Listed By:
Jeff McCormick · License #RB14033291
(219) 613-5643
Added: Feb 8
Changed: Sep 2
Last Checked: Sep 11 at 6:06AM
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.
Investment Insights
Based on property information with market context.
This 3,850-square-foot freestanding storefront at 1312 W Lincoln Highway offers an open floorplan with a basement, forced-air heating, and natural gas service. Built in 1956, the property includes public water and public sewer, with cable available. Its flexible interior supports office, medical, retail, or service-based operations as described in the property information.
The 0.93-acre site fronts W Lincoln Highway in Schererville and provides access to US 30, along with ample parking and signage opportunities. The property is positioned near retail, dining, and service businesses, including national retailers and established local businesses.
The 0.93-acre site fronts W Lincoln Highway in Schererville and provides access to US 30, along with ample parking and signage opportunities. The property is positioned near retail, dining, and service businesses, including national retailers and established local businesses.
Key Highlights
- 3,850‑square‑foot storefront on a 0.93‑acre site
- Open floorplan with basement space
- Built in 1956 with forced‑air heating and natural gas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,100
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$742,000
$742.0K
Cap Rate 7%
$530,000
$530.0K
Cap Rate 9%
$412,222
$412.2K
Market Conditions
NOI Build-Up for 3,850 SF
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.
Gross rent
$55.4K $14.40/SF
− Vacancy
−$2.4K −$0.63/SF
EGI
$53.0K $13.77/SF
− OpEx
−$15.9K −$4.13/SF
NOI
$37.1K $9.64/SF
Area
Lake County, IN
Vacancy
4.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$742,000
Cap Rate 7%
$530,000
Cap Rate 9%
$412,222
Alternative Uses
Best Use
Retail
$530.0K
$463.8K – $618.3K
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
NOI $75,234 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
40k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 12%
Hotels & Casinos 10%
Culver's
Dining
19,715 visits/mo
0.4 miles
KFC
Dining
6,404 visits/mo
0.5 miles
BP
Shops & Services
3,688 visits/mo
0.2 miles
Aurelio's Pizza
Dining
2,834 visits/mo
0.1 miles
Pepe's Mexican Restaurant
Dining
1,946 visits/mo
0.2 miles
Demographics for 46375, IN
24,051
Population
10,064
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,879
Density / Sq Mi
$89,646
Median Household Income
$51,448
Median Earnings
$1,250
Median Rent
$295,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial building with public utilities, ample parking, and direct signage opportunities along US 30.
Where is this storefront property located?
The property is located at 1312 W Lincoln Highway Schererville, IN.
What is the asking price?
The asking price for this property is $698,500.
What are key features of this property?
This property features: 3,850‑square‑foot storefront on a 0.93‑acre site; Open floorplan with basement space; Built in 1956 with forced‑air heating and natural gas
