Listing Agency: McColly Real Estate s***@mccolly.com Show Phone

Listed By: Anthony Christopher · License #RB22001074 Show Phone

Source: Exprealty

Added: Jul 9 Changed: Oct 25 Last Checked: Oct 26 at 8:10PM

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Investment Insights

Based on property information with market context.

Commercial flex-style property at 11130 W 93rd Ave, Saint John, IN, offering a mix of showroom, warehouse, and attached residential space. The building includes approximately 2,300 square feet of showroom space and 1,500 square feet of warehouse space, along with an attached 1,200 square foot, two-bedroom apartment.

Operations are supported by a rear lot with overhead doors, providing convenient access for loading, storage, and day-to-day needs. The property is positioned to benefit from strong visibility and high traffic counts, with a layout designed to accommodate a variety of uses subject to zoning.

Key Highlights

• Commercial building with 5,500+ sq ft of flexible space and high traffic exposure
• Approximately 2,300 sq ft showroom area
• Approximately 1,500 sq ft warehouse space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,097

Cap Rate

5.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,061,940 $1.1M

Cap Rate 7%

$758,529 $758.5K

Cap Rate 9%

$589,967 $590.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,510 SF

Gross rent

$79.3K $14.40/SF

− Vacancy

−$3.5K −$0.63/SF

EGI

$75.9K $13.77/SF

− OpEx

−$22.8K −$4.13/SF

NOI

$53.1K $9.64/SF

Area

Lake County, IN

Vacancy

4.40%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,061,940

Cap Rate 7%

$758,529

Cap Rate 9%

$589,967

Alternative Uses

Best Use

Retail

$758.5K

$663.7K – $885.0K (±1% cap)

NOI $53,097 @ 7.0% cap · market cap 5.45%

Second Best

Warehouse

$554.5K

$485.2K – $646.9K (±1% cap)

NOI $38,816 @ 7.0% cap · market cap 3.98%

Theoretical Best

Specialty Retail

$1.54M

$1.35M – $1.79M (±1% cap)

NOI $107,672 @ 7.0% cap · market cap 11.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon HVAC Service Grocery & Convenience Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

500

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 46373, IN

17,839

Population

6,616

Households

2.7

Avg Household Size

44

Median Age

42%

College-Educated

94%

High-School Grad

10.9 sq mi

ZIP Area

1,637

Density / Sq Mi

$123,203

Median Household Income

$70,957

Median Earnings

$953

Median Rent

$375,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Includes showroom and warehouse areas plus an attached two-bedroom apartment, with rear lot overhead doors for loading and storage.

Where is this flex space located?

The property is located at 11130 W 93rd Ave Saint John, IN.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Commercial building with 5,500+ sq ft of flexible space and high traffic exposure; Approximately 2,300 sq ft showroom area; Approximately 1,500 sq ft warehouse space