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    13851 Alexander Street Cedar Lake, IN 46303

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    For Sale
    $1,251,000

    COMMERCIAL - Cedar Lake, IN

    Property size:
    9,520 SF
    Lot size:
    1.39 Acres
    Price / SF:
    $131/SF
    Added:
    Jun 2, 2025
    Days on Market:
    337
    Last Refresh:
    May 4 at 9:06 am

    Property Features for 13851 Alexander Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Parking
    18
    Standard status
    Active
    Size
    9,520 SF
    Lot size
    1.39 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    Railside Business Park, Lot 26
    Tax Annual Amount
    1000

    Utilities

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

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    Shelly Faber
    Shelly Faber

    Listing agent Shelly Faber License #RB14044470

    Listing office McColly Real Estate 13211 Wicker Ave., Schererville, IN

    Listing date Jun 2, 2025

    MLS# 821880

    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.

    Overview

    New Construction Flex/Industrial Building

    This new construction office/warehouse building is located in Railside Business Park on Lot 26. The 9,520 sqft building offers a generous space for various business needs on a 1.39-acre lot. The property is ready to be customized with an open space design. It includes three-phase electric service, a concrete floor with drains, exterior landscaping, lighting, and asphalt parking. Potential business opportunities include warehousing, flooring distribution, automotive sales and service, parcel/package delivery facilities, laboratories for research and testing, light machinery production for appliances and business machines, orthopedic and medical appliance manufacture, woodworking and wood products, building material sales, contractor services, construction company offices and storage, food and beverage distribution, lumber yard and similar facilities, general warehousing, public utility office and service center, all government offices and services, automotive supplies, sales, and warehousing, glass and glazing facilities, and recycling or refuse transload centers. The property offers great interstate connectivity and quick access to Route 41, Route 231, and the Route 2 interchange on I-65, as well as Route 10 and Route 114, providing access across to Illinois. Route 41 north and south access from Chicago to the south is readily available. The location is suitable for all B-3 and M-1 uses in this growing area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Lake
    County
    Lake
    State
    Indiana
    Longitude
    -87.463032
    Latitude
    41.365178

    Nearby Similar for Sale

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    • $497,500
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      Railside Business Park Commercial Space

      2,500 sq ft commercial space in growing community.
      13861 Alexander Street D, Cedar Lake, IN 46303
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    • $399,900
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      Railside Business Park Commercial Space

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    • $545,000
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      Railside Business Park Retail Space

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    FAQs

    What type of property is this?
    Flex space - 9,520 sqft flex/industrial building on 1.39 acres ready to customize.
    Where is this flex space located?
    The property is located at 13851 Alexander Street Cedar Lake, IN.
    What is the asking price?
    The asking price for this property is $1,251,000.
    What are key features of this property?
    This property features: New construction (2025) M1 office/warehouse building with **9,520 sqft of customizable space on 1.39 acres.**; Excellent location with quick access to I‑65, Rt 41/Rt 231, Rt 2, Rt 10/Rt 114, and convenient access to Illinois and Chicago.; **Ready for immediate business use** with no waiting, allowing for custom workspace design and finishing.
    (219) 775-1799
    We can help!
    Listing Contact
    Shelly Faber
    Shelly Faber
    Real Estate License ID: RB14044470
    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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    13851 Alexander Street, Cedar Lake, IN 46303

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