Salon and Historical Building For
For Sale
$449,999
Pending
2012 Hart Street, Dyer, IN 46311
Thriving salon business and historical building in prime location.
Property Size2,880 SF
Lot Size0.21 Acres
Days on Market784
Property Features for 2012 Hart Street
General Information
Standard status
Pending
Size
2,880 SF
Lot size
0.21 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1895
Listing Agency:
Listing Leaders Northwest
(216) 375-7533
Listed By:
Anil Bhalla · License #RB15001458
(216) 375-7533
Source:
Exitrealty
Added: Jun 19, 2024
Changed: Aug 8
Last Checked: Aug 11 at 7:21AM
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 Listing Leaders Northwest
Investment Insights
Based on property information with market context.
This impeccably maintained historical commercial building offers an opportunity to own a thriving salon business in a prime location. The property features an easily accessible street entrance and ample lighted parking. The main level includes a tranquil waiting area, a salon space with wood floors, elegant spot lighting, and elevated ceilings, as well as a bathroom and nail room. Salon chairs, shampoo bowls, and additional equipment are included. The upstairs area provides an office and extra storage space. The lower level spa area has five additional rooms, a sauna, a locker room, and a restroom with a shower. The property includes two HVAC systems, a hot water heater, newer windows and siding, and washers and dryers. Located on Hart Street, right off Rt. 30, the property benefits from high daily traffic count and visibility. The property is ideal for any business or investment opportunity. The building size is 2880 square feet.
Key Highlights
- Prime location on Hart Street, off Rt. 30, with high traffic count and visibility.
- Turnkey salon business opportunity with existing chairs, bowls, and equipment.
- Historical, impeccably maintained commercial building.
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
$27,753
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
6.17%
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%
$555,060
$555.1K
Cap Rate 7%
$396,471
$396.5K
Cap Rate 9%
$308,367
$308.4K
Market Conditions
NOI Build-Up for 2,880 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
$41.5K $14.40/SF
− Vacancy
−$1.8K −$0.63/SF
EGI
$39.6K $13.77/SF
− OpEx
−$11.9K −$4.13/SF
NOI
$27.8K $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 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%
$555,060
Cap Rate 7%
$396,471
Cap Rate 9%
$308,367
Alternative Uses
Best Use
Retail
$396.5K
$346.9K – $462.6K
NOI $27,753 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$804.0K
$703.5K – $938.0K
NOI $56,279 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
37k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
14,970 visits/mo
0.3 miles
Dollar Tree
Shops & Services
14,595 visits/mo
0.3 miles
Exxon
Shops & Services
7,428 visits/mo
0.4 miles
Demographics for 46311, IN
22,431
Population
9,128
Households
2.5
Avg Household Size
43
Median Age
37%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
1,780
Density / Sq Mi
$109,167
Median Household Income
$58,332
Median Earnings
$1,221
Median Rent
$300,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Thriving salon business and historical building in prime location.
Where is this storefront property located?
The property is located at 2012 Hart Street Dyer, IN.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: Prime location on Hart Street, off Rt. 30, with high traffic count and visibility.; Turnkey salon business opportunity with existing chairs, bowls, and equipment.; Historical, impeccably maintained commercial building.
