Industrial Warehouse with Overhead
For Sale
$3,900,000
Pending
1019 E Summit Street, Crown Point, IN 46307
COMMERCIAL - Crown Point, IN
Property Size45,966 SF
Lot Size2.50 Acres
Days on Market532
Property Features for 1019 E Summit Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Parking
30
Parking features
Oversize, Open, Off Street
Security features
Security Lighting
Interior features
Ceiling Fan(s), High Ceilings, Eat-in Kitchen, Entrance Foyer
Exterior features
Lighting, Storage, Private Yard
Lot features
Paved, Rectangular Lot, Private, Near Public Transit
View
City
Elementary school district
Crown Point
Middle school district
Crown Point
High school district
Crown Point
Directions
Broadway Avenue to Summit Street, Summit Street (West) to property on (South) side of Summit.
Standard status
Pending
APN
451604301012000041
Size
45,966 SF
Lot size
2.50 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT OF N1/2 R.R. R/W LY'G IN NW1/4 SW1/4 S.4 T.34 R.8 0.137AC
Tax Annual Amount
38804
Legal Description
PT OF N1/2 R.R. R/W LY'G IN NW1/4 SW1/4 S.4 T.34 R.8 0.137AC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1970
Additional Structures
Storage
Listing Agency:
JK Pro Realty, LLC
(219) 558-0412
Listed By:
Jimmy Karalis · License #RB14035192
(219) 712-1567
Added: Mar 3, 2025
Changed: Aug 4
Last Checked: Aug 17 at 2:06AM
MLS# 816865
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.
Industrial warehouse property totaling 45,966 SF on 2.5 acres, zoned I-1. The main building includes 39,723 SF of heated warehouse space with multiple overhead crane systems, including traveling bridge cranes and jib cranes rated from 1/2 ton through 10 tons. Warehouse clear ceiling heights are 16 feet on the sides and 25 feet in the middle, with multiple overhead doors/drive-in bays.
The building also has fully finished office space with forced air heat and air conditioning, plus an employee kitchen area, locker rooms, break rooms, and bathrooms. Rear building space totals 6,242 SF and was built in 1989, with a clear ceiling height of 16 feet. Electrical service is 800A, 240/480V, 3 phase, and the property includes cable available, public water, and public sewer.
Additional amenities include off-street/open oversize parking and a private yard. The sale also includes Parcel # 45-16-04-301-006.000-042.
The building also has fully finished office space with forced air heat and air conditioning, plus an employee kitchen area, locker rooms, break rooms, and bathrooms. Rear building space totals 6,242 SF and was built in 1989, with a clear ceiling height of 16 feet. Electrical service is 800A, 240/480V, 3 phase, and the property includes cable available, public water, and public sewer.
Additional amenities include off-street/open oversize parking and a private yard. The sale also includes Parcel # 45-16-04-301-006.000-042.
Key Highlights
- 45,966 SF industrial warehouse on 2.5 acres, zoned I‑1
- Main building: 39,723 SF heated warehouse with traveling bridge and jib cranes
- Crane capacity ranges from 1/2 ton to 10 tons
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
$323,815
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
8.30%
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%
$6,476,300
$6.5M
Cap Rate 7%
$4,625,929
$4.6M
Cap Rate 9%
$3,597,944
$3.6M
Market Conditions
NOI Build-Up for 45,966 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
$402.7K $8.76/SF
− Vacancy
−$21.7K −$0.47/SF
EGI
$381.0K $8.29/SF
− OpEx
−$57.1K −$1.24/SF
NOI
$323.8K $7.04/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$6,476,300
Cap Rate 7%
$4,625,929
Cap Rate 9%
$3,597,944
Alternative Uses
Best Use
Warehouse
$4.63M
$4.05M – $5.40M
NOI $323,815 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.83M
$11.23M – $14.97M
NOI $898,233 @ 7.0% cap · market cap 23.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Records Storage Center Inc — 222 Sheridan St, Crown Point, IN 46307, United States
- Self Storage — 101 S Main St, Crown Point, IN 46307, United States
Frequently Asked Questions
What type of property is this?
Warehouse - Zoned I-1 industrial warehouse with heated space, fully finished offices, and overhead crane systems.
Where is this warehouse located?
The property is located at 1019 E Summit Street Crown Point, IN.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 45,966 SF industrial warehouse on 2.5 acres, zoned I‑1; Main building: 39,723 SF heated warehouse with traveling bridge and jib cranes; Crane capacity ranges from 1/2 ton to 10 tons
