Commercial Land with Retail
For Sale
$410,000
13861 Alexander Street, Cedar Lake, IN 46303
Commercial Sale, Cedar Lake, IN
Property Size2,500 SF
Lot Size1.44 Acres
Price / SF$164
Days on Market140
Property Features for 13861 Alexander Street
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Business
Parking
44
Exterior features
Lighting
Subdivision
Railside Business Park
Lot features
Paved
High school
Hanover Central High School
Elementary school district
Hanover
Middle school district
Hanover
High school district
Hanover
Directions
RT 41 TO 141ST CONTINUE EAST TO ALEXANDER, TURN LEFT-NORTH TO PROPERTY
Standard status
Active
Size
2,500 SF
Lot size
1.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Railside Business Park, Lot 27
Tax Annual Amount
1200
Legal Description
Railside Business Park, Lot 27
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Water front features
Pond
Water front
1
Building Details
Year built
2025
Listing Agency:
McColly Real Estate
(219) 374-2121
Listed By:
Shelly Faber · License #RB14044470
(219) 775-1799
Added: Apr 2
Changed: Aug 19
Last Checked: Aug 19 at 9:06PM
MLS# 836440
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1.44-acre commercial land offering includes six B3-zoned lots and a 2,500-square-foot commercial unit within a four-unit building. The unit is under construction, with a 2025 year built, drive-up windows at two end-cap positions, lighting, natural gas heat, forced air, and a pond feature. Public water and public sewer serve the property, with cable available.
Located at 13861 Alexander Street in Cedar Lake, the development is near local schools and Route 41. The B3-zoned lots accommodate the range of uses identified for the site, including offices, retail establishments, medical and dental facilities, restaurants, hotels, recreation centers, vocational schools, senior care facilities, breweries, and community centers.
Located at 13861 Alexander Street in Cedar Lake, the development is near local schools and Route 41. The B3-zoned lots accommodate the range of uses identified for the site, including offices, retail establishments, medical and dental facilities, restaurants, hotels, recreation centers, vocational schools, senior care facilities, breweries, and community centers.
Key Highlights
- 1.44‑acre commercial land offering in Cedar Lake, IN
- Six B3‑zoned commercial lots
- 2,500‑square‑foot commercial unit in a four‑unit 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
$24,091
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
5.88%
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%
$481,820
$481.8K
Cap Rate 7%
$344,157
$344.2K
Cap Rate 9%
$267,678
$267.7K
Market Conditions
NOI Build-Up for 2,500 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
$36.0K $14.40/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$34.4K $13.77/SF
− OpEx
−$10.3K −$4.13/SF
NOI
$24.1K $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%
$481,820
Cap Rate 7%
$344,157
Cap Rate 9%
$267,678
Alternative Uses
Best Use
Retail
$344.2K
$301.1K – $401.5K
NOI $24,091 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$697.9K
$610.7K – $814.2K
NOI $48,853 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 46303, IN
17,028
Population
6,922
Households
2.5
Avg Household Size
39
Median Age
24%
College-Educated
95%
High-School Grad
28.8 sq mi
ZIP Area
591
Density / Sq Mi
$78,659
Median Household Income
$43,217
Median Earnings
$1,197
Median Rent
$271,700
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.
Frequently Asked Questions
What type of property is this?
Commercial land - The property includes B3-zoned lots and a commercial unit within a four-unit building.
Where is this commercial land located?
The property is located at 13861 Alexander Street Cedar Lake, IN.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 1.44‑acre commercial land offering in Cedar Lake, IN; Six B3‑zoned commercial lots; 2,500‑square‑foot commercial unit in a four‑unit building
