Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    Meet Realmo: The Largest Hub of Commercial Real Estate in the US

    Over 1 million active listings and over 150 million property profiles

    677 US Highway 41 Schererville, IN 46375

    View on Map
    Claim this Listing
    For Sale
    $269,900

    LAND - Schererville, IN

    Lot size:
    0.95 Acres
    Added:
    Dec 15, 2023
    Days on Market:
    872
    Last Refresh:
    May 5 at 9:06 am

    Property Features for 677 US Highway 41

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    451104351003000036
    Lot size
    0.95 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Description
    Platted Subdivision: No, Legal Description: N'LY PT W1/2 SW1/4 SW1/4 SW1/4 S.4 T.35 R.9 0.945AC
    Tax Annual Amount
    2898

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Kathryn Recupito

    Listing agent Kathryn Recupito License #RB18001414

    Listing office JK Pro Realty, LLC 8385 Wicker Ave. Suite A, Saint John, IN

    Listing date Dec 15, 2023

    MLS# 542892 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.

    Overview

    Vacant Land on US 41

    This vacant property is located on US 41 in Schererville, Indiana. The deforested land offers endless possibilities. The property, which measures 0.945 acres, is accessible via a separate access road and through Shops of Schererville.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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
    -87.469987
    Latitude
    41.510298

    Nearby Similar for Sale

    • $699,000
      3,850 SF

      Retail Space with High Visibility

      Commercial space with high foot traffic and income potential.
      1312 W Lincoln Highway, Schererville, IN 46375
      View Details
    • $259,000
      1,200 SF

      Schererville Office Condominium on US-41

      1,200 SF office condo with high visibility on US-41.
      8025 Wicker Avenue, Schererville, IN 46373
      View Details
    • $289,000
      1,238 SF

      Schererville Office Condo For Sale

      High-visibility office condo ideal for owner-user or investor.
      940 W Us-30, Schererville, IN 46375
      View Details
    • $310,000
      142,006 SF

      Schererville Land on US 30

      3.26 acre commercial vacant land on US 30 for sale.
      6340-6363 W Lincoln Highway, Schererville, IN 46375
      View Details
    • $380,000

      Commercially Zoned Lot on Route 30

      2.29 acre commercially zoned lot with high traffic frontage.
      6520 W Lincoln Highway, Schererville, IN 46375
      View Details
    • $380,000

      Commercially Zoned Lot on Route 30

      2.29 acre commercially zoned lot with high traffic frontage.
      6520 W Lincoln Highway, Schererville, IN 46375
      View Details
    • $149,900

      Residential Land in Schererville, IN

      Two residential lots totaling 0.88 acres in Schererville, Indiana.
      1001 E Highway 330, Schererville, IN 46375
      View Details
    • $55,000

      Residential Lot in Schererville

      Vacant lot in Schererville, Indiana, ready for residential development.
      1000 69th Place, Schererville, IN 46375
      View Details
    • $299,900

      Schererville Land For Sale

      Land in Schererville, near major roadways, shopping, dining, and schools.
      1640 Janice Drive, Schererville, IN 46375
      View Details
    • $225,000

      Residential Land in Schererville, IN

      Residential land available in Stone Bridge Estates, Schererville, IN.
      1023 Kensington Court, Schererville, IN 46375
      View Details
    • $210,000

      Residential Land Bordering Nature Preserve

      Build-ready lot in prestigious Stonebridge Estates, bordering nature preserve.
      1124 Willowbrook Drive, Schererville, IN 46375
      View Details
    • $295,900
      1,682 SF

      Two-Story Professional Building For Sale

      Two-story professional building with open layout and high visibility.
      900 Parker Place, Schererville, IN 46375
      View Details

    FAQs

    What type of property is this?
    Land - Deforested vacant land with access road on US 41.
    Where is this land located?
    The property is located at 677 US Highway 41 Schererville, IN.
    What is the asking price?
    The asking price for this property is $269,900.
    What are key features of this property?
    This property features: Vacant property offering endless possibilities.; Located on US 41.; Accessible through Shops of Schererville.
    (219) 671-7911
    We can help!
    Listing Contact
    Kathryn Recupito
    Real Estate License ID: RB18001414
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    677 US Highway 41, Schererville, IN 46375
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!