Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Crown Point Commercial Opportunity Title is generated by Realmo AI

    111 East State Road 8, Crown Point, IN 46307

    View on Map
    Claim this Listing
    For Sale
    $474,500

    1.83 acres zoned B-3 near Broadway intersection.

    Type:Office
    Property size:
    2,647 SF
    Lot size:
    1.83 Acres
    Price / SF:
    $179/SF
    Added:
    Apr 10, 2026
    Days on Market:
    59
    Last Refresh:
    Apr 10 at 8:03 pm

    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

    We can help!

    Listing Contact
    Matt Evans
    Matt Evans

    Listing agent Matt Evans License #5452673

    Listing office RE/MAX

    Listing date Apr 10, 2026

    Source Remaxcommercial

    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

    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.
    • Existing 2,647 SF structure suitable for office/retail use.
    • Opportunity for land assemblage with nearby parcels also on the market.
    • Close proximity to established businesses like CVS, Rush Physical Therapy, and Peoples Bank.

    Overview

    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.

    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 (±1% cap)
    NOI $33,576 @ 7.0% cap · market cap 7.08%
    Second Best
    Retail
    $364.4K
    $318.9K – $425.1K (±1% cap)
    NOI $25,508 @ 7.0% cap · market cap 5.38%
    Theoretical Best
    Specialty Retail
    $738.9K
    $646.6K – $862.1K (±1% cap)
    NOI $51,726 @ 7.0% cap · market cap 10.90%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm HVAC Service Computer & Electronic Repair Tech Support Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crown Point
    County
    Lake
    State
    Indiana
    Longitude
    -87.295208
    Latitude
    41.371922

    Nearby Similar for Sale

    • $1,200,000
      7,640 SF

      Crown Point Industrial/Office Opportunity

      Versatile industrial and office buildings on 1.16 acres.
      1031 E Summit Street, Crown Point, IN 46307
      View Details
    • $1,755,000
      4,505 SF

      Turn-Key Restaurant Investment Opportunity

      Restaurant in high-growth area with strong residential development.
      10685 Randolph Street, Crown Point, IN 46307
      View Details
    • $545,000

      Corner Lot Quadplex with Parking

      Four-unit quadplex with separate entrances, eight dedicated off-street spaces, and month-to-month leasing flexibility.
      324 S Main Street, Crown Point, IN 46307
      View Details
    • $795,000
      3,612 SF

      Crown Point Multi-Family Property

      Multi-family property in Crown Point, Indiana, with 3,612 square feet.
      140 N West Street, Crown Point, IN 46307
      View Details
    • $3,900,000
      45,966 SF

      Crown Point Industrial Warehouse Space

      46,000 SF industrial warehouse on 2.5 acres near I-65.
      1019 E Summit Street, Crown Point, IN 46307
      View Details
    • $474,500
      2,647 SF

      Crown Point Commercial Opportunity

      1.83 acres zoned B-3 near Broadway intersection.
      111 E State Road 8, Crown Point, IN 46307
      View Details
    • $699,000

      Mixed-Use Property Near Crown Point

      Versatile investment property with residential and commercial income potential.
      300 S Court St, Crown Point, IN, 46307-3985
      View Details
    • $850,000

      Crown Point Mixed-Use Property

      Leased mixed-use property with residential and commercial spaces, fenced backyard.
      105 S Court Street, Crown Point, IN 46307
      View Details
    • Contact for pricing

      Northwest Indiana Apartment Portfolio

      118-unit portfolio in Crown Point, Highland, and Griffith, Indiana.
      2100 N Main St, Crown Point, IN 46307
      View Details
    • $6,681,630
      13,200 SF

      Crown Point Surgery Center Investment

      13,200 SF surgery center in Crown Point, Indiana.
      11450-11460 S. Broadway, Crown Point, IN 46307
      View Details
    • $2,599,900
      12,606 SF

      Mixed-Use Asset Near Crown Point

      Mixed-use property with residential and commercial units near Crown Point.
      250 North Main Street, Crown Point, IN 46307
      View Details
    • $650,000
      11,800 SF

      Retail Space in Growing Community

      New retail space for sale in Winfield, Indiana.
      11500-11555 Randolph St, Crown Point, IN
      View Details

    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.
    (219) 241-8401
    We can help!
    Listing Contact
    Matt Evans
    Matt Evans
    Real Estate License ID: 5452673
    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
    111 East State Road 8, Winfield, IN 46307
    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!