Two-Story Retail
For Sale
$975,000
120 S Main St, Crown Point, IN 46307
Two-story retail building with bathrooms on both levels and newer rubber roof installed three years ago.
Property Size5,402 SF
Days on Market48
Property Features for 120 S Main St
General Information
Standard status
Active
Size
5,402 SF
Property subtype
Other
Building Details
Building Size
5,402 SF
Year Built
1881
Year Renovated
2000
Stories
2
Construction
Victorian-era
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Nancy Frigo · License #RB14022541
(219) 746-4334
Source:
Commercialcafe
Added: Jul 20
Changed: Aug 24
Last Checked: Sep 4 at 2:34AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This two-story commercial retail building was originally constructed in 1881 and has been updated for modern business use while retaining its downtown character. The property features two spacious levels, each with access to bathrooms, and the main floor includes hardwood flooring and custom cabinetry. A newer rubber roof was installed three years ago, supporting a lower-maintenance ownership profile.
The building is located at 120 S Main St in Crown Point’s historical downtown district, directly across from the historic Crown Point Courthouse in the district square.
The property is currently leased out on both levels to established tenants, providing an income-producing footprint for an owner-occupant or investor.
The building is located at 120 S Main St in Crown Point’s historical downtown district, directly across from the historic Crown Point Courthouse in the district square.
The property is currently leased out on both levels to established tenants, providing an income-producing footprint for an owner-occupant or investor.
Key Highlights
- Two‑story retail/commercial building built in 1881 with space leased out to established tenants
- Updated building features bathrooms on both levels
- Newer rubber roof installed about 3 years ago
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
$52,056
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
5.34%
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%
$1,041,120
$1.0M
Cap Rate 7%
$743,657
$743.7K
Cap Rate 9%
$578,400
$578.4K
Market Conditions
NOI Build-Up for 5,402 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
$77.8K $14.40/SF
− Vacancy
−$3.4K −$0.63/SF
EGI
$74.4K $13.77/SF
− OpEx
−$22.3K −$4.13/SF
NOI
$52.1K $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%
$1,041,120
Cap Rate 7%
$743,657
Cap Rate 9%
$578,400
Alternative Uses
Best Use
Retail
$743.7K
$650.7K – $867.6K
NOI $52,056 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,562 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,134
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story retail building with bathrooms on both levels and newer rubber roof installed three years ago.
Where is this retail space located?
The property is located at 120 S Main St Crown Point, IN.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑story retail/commercial building built in 1881 with space leased out to established tenants; Updated building features bathrooms on both levels; Newer rubber roof installed about 3 years ago
