Industrial Warehouse with Bridge
For Sale
$3,900,000
Pending
1019 E Summit St, Crown Point, IN 46307
Industrial warehouse on 2.5 acres with heated space, multiple overhead doors, and cranes up to 10 tons.
Property Size45,966 SF
Days on Market526
Property Features for 1019 E Summit St
General Information
Standard status
Pending
Size
45,966 SF
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 10 at 7:32AM
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 offering includes a main building with 39,723 square feet and a heated warehouse environment designed for heavier operations. The facility features multiple crane systems, including traveling bridge cranes and jib cranes ranging from 1/2 ton to 10 tons. Clear heights are approximately 16 feet on the sides and 25 feet in the middle, supporting storage and manufacturing workflows. Multiple overhead doors and drive-in bays provide loading flexibility. Fully finished office space includes forced air heating and air conditioning, along with an employee kitchen area, locker rooms, break rooms, and multiple restrooms.
A rear building of 6,242 square feet (built in 1989) complements the main facility, with an approximate clear ceiling height of 16 feet. Electric service is listed as 800A with 240/480V, 3 phase power. The property is zoned I-1 (industrial) and includes parcel information noted as Parcel # 45-16-04-301-006.000-042 in the sale.
With I-1 zoning and substantial crane capacity, this property can suit a variety of industrial users requiring heated warehouse space and on-site overhead handling. The combination of loading doors, clear heights, and office support areas provides a practical layout for organizations that need both production space and functional on-site employee facilities.
A rear building of 6,242 square feet (built in 1989) complements the main facility, with an approximate clear ceiling height of 16 feet. Electric service is listed as 800A with 240/480V, 3 phase power. The property is zoned I-1 (industrial) and includes parcel information noted as Parcel # 45-16-04-301-006.000-042 in the sale.
With I-1 zoning and substantial crane capacity, this property can suit a variety of industrial users requiring heated warehouse space and on-site overhead handling. The combination of loading doors, clear heights, and office support areas provides a practical layout for organizations that need both production space and functional on-site employee facilities.
Key Highlights
- Industrial warehouse for sale on 2.5 acres near I‑65 in Crown Point; Zoned I‑1 (industrial) for a variety of uses
- Main building: 39,723 SF heated warehouse with overhead/drive‑in doors and high ceilings (16 ft sides, 25 ft middle)
- Cranes included: traveling bridge cranes and jib cranes from 1/2 ton up 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
$323,815
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%
$6,476,300
$6.5M
Cap Rate 7%
$4,625,929
$4.6M
Cap Rate 9%
$3,597,944
$3.6M
Market Conditions
NOI Build-Up for 45,966 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%
$6,476,300
Cap Rate 7%
$4,625,929
Cap Rate 9%
$3,597,944
Alternative Uses
Best Use
Warehouse
$4.63M
$4.05M – $5.40M
NOI $323,815 @ 7.0% cap · market cap 8.30%
Second Best
Industrial
$3.81M
$3.33M – $4.44M
NOI $266,671 @ 7.0% cap · market cap 6.84%
Theoretical Best
Specialty Retail
$12.83M
$11.23M – $14.97M
NOI $898,233 @ 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
Under-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
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial warehouse on 2.5 acres with heated space, multiple overhead doors, and cranes up to 10 tons.
Where is this flex space 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: Industrial warehouse for sale on 2.5 acres near I‑65 in Crown Point; Zoned I‑1 (industrial) for a variety of uses; Main building: 39,723 SF heated warehouse with overhead/drive‑in doors and high ceilings (16 ft sides, 25 ft middle); Cranes included: traveling bridge cranes and jib cranes from 1/2 ton up to 10 tons
