Flex Space with
For Sale
$995,000
11130 W 93rd Avenue, St John, IN 46373
Commercial Sale, St. John, IN
Property Size5,510 SF
Lot Size0.64 Acres
Price / SF$180.58
Days on Market80
Property Features for 11130 W 93rd Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
10
Directions
Heading South on Wicker Ave, turn left onto 93rd Ave, Building is on left.
Standard status
Active
APN
451128353011000035
Size
5,510 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT W.94.47FT OF S.5AC OF W1/2 SW1/4 SW1/4 EX. E.300FT & EX W.130FT & EX. S.30FT OF W.211.56FT S.28 T.35 R.9 0.635 Ac
Tax Annual Amount
4623
Legal Description
PT W.94.47FT OF S.5AC OF W1/2 SW1/4 SW1/4 EX. E.300FT & EX W.130FT & EX. S.30FT OF W.211.56FT S.28 T.35 R.9 0.635 Ac
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1963
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Anthony Christopher · License #RB22001074
(708) 715-6193
Added: Jul 9
Changed: Aug 19
Last Checked: Sep 26 at 11:06AM
MLS# 841957
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 5,510-square-foot flex property, built in 1963, brings together approximately 2,300 square feet of showroom area, 1,500 square feet of warehouse space, and an attached 1,200-square-foot, two-bedroom apartment. The layout supports multiple commercial functions within one building, with baseboard heating and natural gas available.
A 0.64-acre rear lot includes overhead doors for access related to loading, storage, and daily operations. The property is located at 11130 W 93rd Avenue in St. John, Indiana, with public water and public sewer service.
A 0.64-acre rear lot includes overhead doors for access related to loading, storage, and daily operations. The property is located at 11130 W 93rd Avenue in St. John, Indiana, with public water and public sewer service.
Key Highlights
- 5,510 square feet of total building area
- Approximately 2,300 square feet of showroom space
- Approximately 1,500 square feet of warehouse space
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
$54,549
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
5.48%
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%
$1,090,980
$1.1M
Cap Rate 7%
$779,271
$779.3K
Cap Rate 9%
$606,100
$606.1K
Market Conditions
NOI Build-Up for 5,510 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
$99.2K $18.00/SF
− Vacancy
−$11.9K −$2.16/SF
EGI
$87.3K $15.84/SF
− OpEx
−$32.7K −$5.94/SF
NOI
$54.5K $9.90/SF
Area
Lake County, IN
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,090,980
Cap Rate 7%
$779,271
Cap Rate 9%
$606,100
Alternative Uses
Best Use
Mixed Use
$779.3K
$681.9K – $909.2K
NOI $54,549 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$758.5K
$663.7K – $885.0K
NOI $53,097 @ 7.0% cap · market cap 5.34%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.79M
NOI $107,672 @ 7.0% cap · market cap 10.82%
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
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Comforts Catering — 9585 N Industrial Dr, St John, IN 46373
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building combines showroom, warehouse, and attached residential space.
Where is this flex space located?
The property is located at 11130 W 93rd Avenue St John, IN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 5,510 square feet of total building area; Approximately 2,300 square feet of showroom space; Approximately 1,500 square feet of warehouse space
