B-3 Commercial
For Sale
$474,500
111 E State Road 8, Crown Point, IN 46307
Commercial Sale, Crown Point, IN
Property Size2,647 SF
Lot Size1.83 Acres
Price / SF$179.26
Days on Market225
Property Features for 111 E State Road 8
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
10
Parking features
Driveway
Basement
Unfinished
Directions
Use Showing Assist
Standard status
Active
APN
451615153003000042
Size
2,647 SF
Lot size
1.83 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT S2. SW NW S.15 T.34 R.8 449.01X200.2X348.29X226.30FT 1.826AC
Tax Annual Amount
4567
Legal Description
PT S2. SW NW S.15 T.34 R.8 449.01X200.2X348.29X226.30FT 1.826AC
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public, Well
Building Details
Year built
1948
Listing Agency:
RE/MAX Lifestyles · RE/MAX International
(219) 462-2121
Listed By:
Matt Evans · License #RB14034485
(219) 241-8401
Added: Feb 23
Changed: Sep 15
Last Checked: Oct 6 at 12:06AM
MLS# 834495
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.
This 1.826-acre commercial parcel includes an existing 2,647-square-foot structure built in 1948. The former house has three larger rooms on the main floor, bathroom, kitchen, dining areas, two upstairs rooms, and an additional bathroom. A screened rear porch and a two-car garage with attic space provide further improvements. Natural gas heat serves the building, with well and public water sources and public sewer. The property is zoned B-3, a designation that typically accommodates various commercial applications, subject to confirmation with the City of Crown Point planning department.
The site is positioned near the Broadway intersection along Hwy 231 / 8 and has two access points from the existing driveway. Nearby businesses include CVS, Rush Physical Therapy, iSmile Orthodontics, Peoples Bank, and Stracci Law Group. Additional nearby parcels are also being marketed and may support assemblage discussions.
The site is positioned near the Broadway intersection along Hwy 231 / 8 and has two access points from the existing driveway. Nearby businesses include CVS, Rush Physical Therapy, iSmile Orthodontics, Peoples Bank, and Stracci Law Group. Additional nearby parcels are also being marketed and may support assemblage discussions.
Key Highlights
- 1.826‑acre commercial parcel zoned B‑3
- Existing 2,647 SF structure built in 1948
- Three larger main‑floor rooms plus two upstairs rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,576
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,520
$671.5K
Cap Rate 7%
$479,657
$479.7K
Cap Rate 9%
$373,067
$373.1K
Market Conditions
NOI Build-Up for 2,647 SF
Gross rent
$57.2K $21.60/SF
− Vacancy
−$12.4K −$4.69/SF
EGI
$44.8K $16.91/SF
− OpEx
−$11.2K −$4.23/SF
NOI
$33.6K $12.68/SF
Area
Lake County, IN
Vacancy
21.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,520
Cap Rate 7%
$479,657
Cap Rate 9%
$373,067
Alternative Uses
Best Use
Office B
$479.7K
$419.7K – $559.6K
NOI $33,576 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$738.9K
$646.6K – $862.1K
NOI $51,726 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Commercial land - B-3-zoned parcel with an existing office and retail-style structure, driveway access, and public sewer service.
Where is this commercial land located?
The property is located at 111 E State Road 8 Crown Point, IN.
What is the asking price?
The asking price for this property is $474,500.
What are key features of this property?
This property features: 1.826‑acre commercial parcel zoned B‑3; Existing 2,647 SF structure built in 1948; Three larger main‑floor rooms plus two upstairs rooms
