Manufacturing Building With Dock
New
For Sale
$2,650,000
1190 Erie Ct, Crown Point, IN 46307
I-1-zoned industrial facility with dock and drive-in loading for manufacturing or warehouse operations.
Property Size19,100 SF
Price / SF$138.74
Days on Market5
Property Features for 1190 Erie Ct
General Information
Standard status
Active
Size
19,100 SF
Property subtype
Industrial
Zoning
I-1
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
2
Drive-In Doors
2
Additional Details
Highway Access
Yes
Building Details
Building Size
19,100 SF
Year Built
1995
Buildings
1
Listing Agency:
Latitude Commercial
(219) 308-3553
Listed By:
Myles Rapchak · License #IN #RB14052315
(219) 308-3553
Source:
Latitudeco
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 3:48PM
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 Latitude Commercial
Investment Insights
Based on property information with market context.
This 19,100-square-foot manufacturing property includes warehouse space with 18-foot ceiling heights, two dock doors, and two drive-in doors. Constructed in 1995, the facility is zoned I-1 and is configured for industrial use.
The property is located in Crown Point, less than one mile from the I-65 and 109th interchange. A current tenant lease runs through 8/31/27 with no options, providing a defined lease term for a buyer evaluating the asset.
The property is located in Crown Point, less than one mile from the I-65 and 109th interchange. A current tenant lease runs through 8/31/27 with no options, providing a defined lease term for a buyer evaluating the asset.
Key Highlights
- 19,100 SF manufacturing and industrial building
- 18' ceiling heights in the warehouse
- Two dock doors and two drive‑in doors
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
$134,553
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
5.08%
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%
$2,691,060
$2.7M
Cap Rate 7%
$1,922,186
$1.9M
Cap Rate 9%
$1,495,033
$1.5M
Market Conditions
NOI Build-Up for 19,100 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
$167.3K $8.76/SF
− Vacancy
−$9.0K −$0.47/SF
EGI
$158.3K $8.29/SF
− OpEx
−$23.7K −$1.24/SF
NOI
$134.6K $7.04/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$2,691,060
Cap Rate 7%
$1,922,186
Cap Rate 9%
$1,495,033
Alternative Uses
Best Use
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,553 @ 7.0% cap · market cap 5.08%
Second Best
Industrial
$1.58M
$1.39M – $1.85M
NOI $110,808 @ 7.0% cap · market cap 4.18%
Theoretical Best
Specialty Retail
$5.33M
$4.67M – $6.22M
NOI $373,238 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
2
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - I-1-zoned industrial facility with dock and drive-in loading for manufacturing or warehouse operations.
Where is this manufacturing property located?
The property is located at 1190 Erie Ct Crown Point, IN.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 19,100 SF manufacturing and industrial building; 18' ceiling heights in the warehouse; Two dock doors and two drive‑in doors
