Restaurant Building with Truck
20508 Wicker Boulevard Lowell, IN 46356
20508 Wicker Boulevard, Lowell, IN, 46356
$249,000
For Sale
$249,000
MULTI_FAMILY - Lowell, IN
Property Size1,092 SF
Lot Size3.29 Acres
Price / SF$228.02
Days on Market497
Property Features for 20508 Wicker Boulevard
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
- Parking features
- Off Street
- Pets allowed
- Yes
- Appliances
- Gas Range, Range Hood
- Standard status
- Active
- APN
- 452308226009000037
- Lot size
- 3.29 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- N1/2 OF E1/2 N1/2 NE1/4 NE1/4 S.8 T.32 R.9 EX S.175FT OF W.420FT 3.29 AC
- Tax Annual Amount
- 4528
Utilities
- Sewer type
- Septic Tank
- Heating system
- Propane (Heating)
- Water source
- Well
Building Details
- Year built
- 1945
- Floors in Building
- 1
Listing agency
Weichert, Realtors-Moke Agency
(219) 662-3000
Listed by
Joseph Moke · License #RB14023373
(219) 808-2400
Added: Mar 13, 2025 Updated: Jul 18 at 1:42AM Checked: Jul 22 at 6:06AM
MLS# 817412
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.
The offering includes a commercial building of approximately 1,092 square feet that is set up as a restaurant, along with an additional fixer-upper single-family home on the same parcel. The residence has already had some updates completed. The property is described as having plenty of room for semi-truck parking.
Located at 20508 Wicker Boulevard in Lowell, Indiana, the property sits right on Route 41. This direct roadway adjacency supports straightforward customer and vehicle access for the restaurant use described in the remarks.
The parcel size is 3.29 acres, providing space to accommodate both the restaurant building and the second dwelling on-site, as reflected in the current property configuration.
Located at 20508 Wicker Boulevard in Lowell, Indiana, the property sits right on Route 41. This direct roadway adjacency supports straightforward customer and vehicle access for the restaurant use described in the remarks.
The parcel size is 3.29 acres, providing space to accommodate both the restaurant building and the second dwelling on-site, as reflected in the current property configuration.
Key Highlights
- 3+ acre parcel on Route 41 with a 1,092 SF commercial building set up for a restaurant
- Restaurant‑ready commercial space includes a gas range and range hood
- Includes a fixer‑upper single‑family home with some updates already completed
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.5k | $27.00 |
| − Vacancy | −$1.0k | −$0.95 |
| EGI | $28.5k | $26.06 |
| − OpEx | −$7.1k | −$6.51 |
| NOI | $21.3k | $19.54 |
1,092 SF · lease $27.00/SF/yr · vacancy 3.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$304.8K
$266.7K – $355.7K
NOI $21,339 @ 7.0% cap · market cap 8.57%
Second Best
Multifamily LT 5
$155.1K
$135.7K – $180.9K
NOI $10,856 @ 7.0% cap · market cap 4.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Restaurant-ready commercial building on a 3+ acre parcel with room for semi-truck parking plus an updated portion of a fixer home.
Where is this duplex located?
The property is located at 20508 Wicker Boulevard Lowell, IN.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 3+ acre parcel on Route 41 with a 1,092 SF commercial building set up for a restaurant; Restaurant‑ready commercial space includes a gas range and range hood; Includes a fixer‑upper single‑family home with some updates already completed
