B3-Zoned Commercial
For Sale
$399,000
13861 Alexander Street, Cedar Lake, IN 46303
Commercial Sale, Cedar Lake, IN
Property Size2,500 SF
Lot Size1.44 Acres
Price / SF$159.60
Days on Market187
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
Directions
RT 41 TO 141ST AVE, TURN EAST CONTINUE TO ALEXANDER ST ON NORTH SIDE OF ROAD.
Standard status
Active
Size
2,500 SF
Lot size
1.44 Acres
Taxes and HOA fees
Tax Year
2026
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
Forced Air, Natural Gas
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: Sep 12
Last Checked: Oct 5 at 5:06PM
MLS# 836450
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.
Railside Business Park includes 1.44 acres of commercial land in Cedar Lake, Indiana, with six lots carrying B3 zoning. The development also includes a 2,500-square-foot commercial unit within a four-unit building that is under construction and scheduled for 2025 completion. The unit includes drive-up windows positioned on two end-cap sides.
The property is located on Alexander Street near local schools and Route 41. Public water and public sewer serve the site, while cable service is available. Additional property features include exterior lighting, natural gas, forced-air heating, and a pond.
The property is located on Alexander Street near local schools and Route 41. Public water and public sewer serve the site, while cable service is available. Additional property features include exterior lighting, natural gas, forced-air heating, and a pond.
Key Highlights
- 1.44 acres of commercial land
- Six B3‑zoned commercial lots
- 2,500 square feet within a four‑unit commercial building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,091
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
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
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 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 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$697.9K
$610.7K – $814.2K
NOI $48,853 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Six B3-zoned lots accompany a commercial development with public water and sewer service.
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 $399,000.
What are key features of this property?
This property features: 1.44 acres of commercial land; Six B3‑zoned commercial lots; 2,500 square feet within a four‑unit commercial building
