Crown Point Commercial
111 East State Road 8 Crown Point, IN 46307
111 East State Road 8, Crown Point, IN, 46307
$474,500
For Sale
$474,500
1.83 acres zoned B-3 near Broadway intersection.
Property Size2,647 SF
Lot Size1.83 Acres
Price / SF$179.26
Days on Market104
Property Features for 111 East State Road 8
General Information
- Standard status
- Active
- Size
- 2,647 SF
- Lot size
- 1.83 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1948
Listing agency
RE/MAX
(219) 241-8401
Listed by
Matt Evans · License #RB14034485
Source
Remaxcommercial
Added: Apr 10 Updated: Jul 10 at 3:56PM Checked: Jul 22 at 2:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX
Investment Insights
Based on property information with market context.
This commercial property is located in Crown Point on Highway 231/8, offering 1.83 acres zoned B-3 near the Broadway intersection. The existing structure provides approximately 2,647 square feet suitable for office or retail use. The former house includes three large rooms on the main floor, a bathroom, kitchen, and dining areas. Upstairs, there are two rooms and another bathroom. Additional features include a screened porch and a two-car garage with attic space. The B-3 zoning typically accommodates various commercial uses, such as office, retail, restaurant, drive-thru, medical, and veterinary services. Nearby businesses include CVS, Rush Physical Therapy, iSmile Orthodontics, Peoples Bank, and Stracci Law Group. The property currently has two access points off the existing driveway. Other nearby parcels are on the market which could form an assemblage opportunity for potential buyers. Buyers should verify their intended use and any redevelopment requirements or improvements needed with the City of Crown Point planning department.
Key Highlights
- 1.83 acres of land in Crown Point with B‑3 zoning.
- High‑traffic location on Hwy 231 / 8 near the Broadway intersection.
- B‑3 zoning allows for a variety of commercial uses such as office, retail, restaurant, and medical.
Local Financial Insights For Office B
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 | $57.2k | $21.60 |
| − Vacancy | −$12.4k | −$4.69 |
| EGI | $44.8k | $16.91 |
| − OpEx | −$11.2k | −$4.23 |
| NOI | $33.6k | $12.68 |
2,647 SF · lease $21.60/SF/yr · vacancy 21.70% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - 1.83 acres zoned B-3 near Broadway intersection.
Where is this office units located?
The property is located at 111 East 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: 1.83 acres of land in Crown Point with B‑3 zoning.; High‑traffic location on Hwy 231 / 8 near the Broadway intersection.; B‑3 zoning allows for a variety of commercial uses such as office, retail, restaurant, and medical.
