Crown Point Industrial Warehouse
For Sale
$3,900,000
Pending
1019 E Summit St, Crown Point, IN 46307
46,000 SF industrial warehouse on 2.5 acres near I-65.
Property Size45,965 SF
Lot Size2.50 Acres
Days on Market523
Property Features for 1019 E Summit St
General Information
Standard status
Pending
Size
45,965 SF
Lot size
2.50 Acres
Taxes and HOA fees
Annual Taxes
$38,804
Listing Agency:
JK Pro Realty, LLC
(219) 712-1567
Listed By:
Jimmy Karalis · License #RB14035192
(219) 712-1567
Source:
Exprealty
Added: Mar 3, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:04AM
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 JK Pro Realty, LLC
Investment Insights
Based on property information with market context.
This industrial warehouse space, totaling just under 46,000 square feet, is available for sale on 2.5 acres. It is located in a central Crown Point location near I-65. The property is zoned I-1 (industrial) and may be suitable for a variety of uses. The main building features 39,723 square feet, multiple cranes ranging from 1/2 ton to 10 tons, a heated warehouse, multiple overhead doors/drive-in bays, and 800A, 240/480v, 3 phase electric power. The warehouse has ceiling heights of 16 feet on the sides and 25 feet in the middle. The property includes finished offices with forced air heat and air conditioning, an employee kitchen area, locker rooms, break rooms, and bathrooms. The rear building, constructed in 1989, provides 6,242 square feet of space with a clear ceiling height of 16 feet. Parcel # 45-16-04-301-006.000-042 is included in the sale.
Key Highlights
- Substantial industrial warehouse space: Just under 46,000 sq ft on 2.5 acres.
- Prime Crown Point location: Near I‑65 in a highly desired, central area.
- Multiple cranes: Ranging from 1/2 ton to 10 tons.
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
$323,808
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
8.30%
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%
$6,476,160
$6.5M
Cap Rate 7%
$4,625,829
$4.6M
Cap Rate 9%
$3,597,867
$3.6M
Market Conditions
NOI Build-Up for 45,965 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
$402.7K $8.76/SF
− Vacancy
−$21.7K −$0.47/SF
EGI
$381.0K $8.29/SF
− OpEx
−$57.1K −$1.24/SF
NOI
$323.8K $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%
$6,476,160
Cap Rate 7%
$4,625,829
Cap Rate 9%
$3,597,867
Alternative Uses
Best Use
Warehouse
$4.63M
$4.05M – $5.40M
NOI $323,808 @ 7.0% cap · market cap 8.30%
Second Best
Industrial
$3.81M
$3.33M – $4.44M
NOI $266,665 @ 7.0% cap · market cap 6.84%
Theoretical Best
Specialty Retail
$12.83M
$11.23M – $14.97M
NOI $898,214 @ 7.0% cap · market cap 23.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- StorSafe of Crown Point West — 800 E North St, Crown Point, IN 46307
- Broadway Mini Storage 24 Hour — 11100 Broadway, Crown Point, IN 46307
- AB Enterprises, Inc — 1670 E North St, Crown Point, IN 46307
- Records Storage Center Inc — 222 Sheridan St, Crown Point, IN 46307, United States
- Self Storage — 101 S Main St, Crown Point, IN 46307, United States
Frequently Asked Questions
What type of property is this?
Warehouse - 46,000 SF industrial warehouse on 2.5 acres near I-65.
Where is this warehouse located?
The property is located at 1019 E Summit St Crown Point, IN.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Substantial industrial warehouse space: Just under 46,000 sq ft on 2.5 acres.; Prime Crown Point location: Near I‑65 in a highly desired, central area.; Multiple cranes: Ranging from 1/2 ton to 10 tons.
