Versatile Commercial Property on
For Sale
$1,500,000
1147 N Salt Creek Rd, Chesterton, IN 46304
Four buildings totaling nearly 6,500 SF on high-traffic roadway.
Property Size6,488 SF
Lot Size1.00 Acre
Price / SF$231.20
Days on Market150
Property Features for 1147 N Salt Creek Rd
General Information
Standard status
Active
Size
6,488 SF
Lot size
1.00 Acre
Taxes and HOA fees
Annual Taxes
$5,254
Listing Agency:
Century 21 Affiliated
(219) 405-4112
Listed By:
Kristin Phillippe · License #RB17000679
(219) 644-7211
Source:
Exprealty
Added: May 21
Changed: Oct 7
Last Checked: Oct 16 at 2:55PM
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 Century 21 Affiliated
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Investment Insights
Based on property information with market context.
This commercial property, situated on just over an acre along a high-traffic roadway, features four buildings totaling nearly 6,500 square feet. The location offers exceptional visibility and easy access. The expansive lot provides ample parking and room for expansion. This property is suitable for a variety of business ventures, investment opportunities, retail, office space, storage, service industries, or mixed-use possibilities.
Key Highlights
- High‑traffic roadway location ensures exceptional visibility and easy access.
- Four buildings totaling nearly 6,500 square feet provide ample space.
- Just over an acre lot offers ample parking and room for expansion.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,368
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,827,360
$1.8M
Cap Rate 7%
$1,305,257
$1.3M
Cap Rate 9%
$1,015,200
$1.0M
Market Conditions
NOI Build-Up for 6,488 SF
Gross rent
$136.2K $21.00/SF
− Vacancy
−$5.7K −$0.88/SF
EGI
$130.5K $20.12/SF
− OpEx
−$39.2K −$6.04/SF
NOI
$91.4K $14.08/SF
Area
Porter County, IN
Vacancy
4.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,827,360
Cap Rate 7%
$1,305,257
Cap Rate 9%
$1,015,200
Alternative Uses
Best Use
Retail
$1.31M
$1.14M – $1.52M
NOI $91,368 @ 7.0% cap · market cap 6.09%
Second Best
Office B
$1.11M
$974.3K – $1.30M
NOI $77,942 @ 7.0% cap · market cap 5.20%
Theoretical Best
Healthcare Medical
$2.46M
$2.15M – $2.87M
NOI $172,130 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 46304, IN
26,835
Population
11,521
Households
2.3
Avg Household Size
41
Median Age
35%
College-Educated
96%
High-School Grad
57.8 sq mi
ZIP Area
464
Density / Sq Mi
$88,551
Median Household Income
$52,704
Median Earnings
$1,169
Median Rent
$278,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four buildings totaling nearly 6,500 SF on high-traffic roadway.
Where is this mixed-use property located?
The property is located at 1147 N Salt Creek Rd Chesterton, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High‑traffic roadway location ensures exceptional visibility and easy access.; Four buildings totaling nearly 6,500 square feet provide ample space.; Just over an acre lot offers ample parking and room for expansion.
