Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    13500 Morse St Cedar Lake, IN 46303

    Sponsored
    For Sale
    $450,000

    LAND - Cedar Lake, IN

    Lot size:
    2.35 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 11 at 6:06 am

    Property Features for 13500 Morse St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    451526179064000043
    Lot size
    2.35 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Jim Samuelson

    Advanced Real Estate LLC (219) 746-2693

    Listing agent Jim Samuelson (219) 746-5747

    Listing date Feb 9, 2026

    MLS# 833792 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Commercial Land in Cedar Lake

    This 2.34-acre commercial land offers visibility and accessibility. Zoned B-2, the site is suitable for a retail strip center, service-based businesses, contractor facilities, storage concepts, or marine/boat service operations. The property's size and layout allow developers to design and build to suit their specific business or investment needs. It is located near major roadways, established businesses, and everyday amenities, benefiting from strong surrounding traffic patterns and continued area growth. This site is suitable for owner-users and investors seeking long-term upside. It is located at 13500 Morse Street, Cedar Lake, IN 46303.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Hotel & Motel Auto Parts Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Lake
    County
    Lake
    State
    Indiana
    Longitude
    -87.422428
    Latitude
    41.373014

    Nearby Similar for Sale

    • New
      $419,900
      Pending

      Maintenance-Free Brick Duplex For Sale

      Fully rented duplex with recent updates in Cedar Lake, IN.
      11395 W 133Rd Ln, Cedar Lake, IN 46303
      View Details
    • $649,500
      1,923 SF

      Creative Commercial Space in Cedar Lake

      Innovative commercial space designed to inspire and foster business growth.
      9603 W 133Rd Ave, Cedar Lake, IN 46303
      View Details
    • $1,251,000
      9,520 SF

      New Construction Flex/Industrial Building

      9,520 sqft flex/industrial building on 1.39 acres ready to customize.
      13851 Alexander St, Cedar Lake, IN 46303
      View Details
    • $299,900
      Pending

      Turnkey Duplex in Cedar Lake

      Well-maintained duplex with rental income potential in Cedar Lake.
      13134 Parrish Ave, Cedar Lake, IN 46303
      View Details
    • $1,799,000
      Pending

      Cedar Lake Multifamily Investment Opportunity

      Fully leased 14-unit apartment building in Cedar Lake, Indiana.
      9714 W 133Rd Ave, Cedar Lake, IN 46303
      View Details
    • $1,551,000

      New Construction Office/Warehouse Building

      9,520 sqft office/warehouse building ready for customization.
      13851 Alexandria Ln, Cedar Lake, IN 46303
      View Details
    • $364,900
      1,783 SF

      Modern Ranch Townhouse with Upgrades

      Stunning, upgraded 2-bedroom townhouse near Cedar Lake and Lemon Lake.
      6815 W 142Nd Ln, Cedar Lake, IN 46303
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.34-acre commercial development opportunity in a growing area.
    Where is this commercial land located?
    The property is located at 13500 Morse St Cedar Lake, IN.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Prime 2.34-acre commercial development opportunity; - Zoned B-2, allowing for a wide range of permitted uses including retail, service, storage, and marine/boat service; - Shovel-ready site, ready for immediate development
    (219) 746-5747
    Request Owner's contact information
    13500 Morse St Cedar Lake, IN 46303
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    13500 Morse St
    Cedar Lake, IN 46303
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    13500 Morse St Cedar Lake, IN 46303
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jim Samuelson
    (219) 746-5747
    Learn more
    Google sign-in failed. Please try again or use another login method.