End-Cap Retail
For Sale
$399,000
13861 Alexander St Unit B, Cedar Lake, IN 46303
Modern commercial space in a four-unit building near local schools and Route 41.
Property Size2,500 SF
Price / SF$159.60
Days on Market322
Property Features for 13861 Alexander St Unit B
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Site & Location
End Cap
Yes
Drive-Thru
Yes
Amenities
drive up windows
Building Details
Year Built
2025
Listing Agency:
McColly Real Estate
Listed By:
Shelly Faber · License #RB14044470
(219) 775-1799
Source:
Nwindianahomesearcher
Added: Oct 25, 2025
Changed: Sep 10
Last Checked: Sep 11 at 11:50AM
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 McColly Real Estate
Investment Insights
Based on property information with market context.
This 2,500-square-foot retail space is positioned within a modern four-unit building completed in 2025. The end-cap unit includes drive-up windows on two sides, supporting convenient customer access and storefront exposure. The property is part of Railside Business Park and is located near local schools and Route 41 in Cedar Lake, Indiana.
The broader development also includes six B3-zoned commercial lots. The stated B3 zoning supports a range of community-oriented commercial uses, including business and professional offices, retail, medical and dental facilities, restaurants, recreation centers, vocational schools, senior care facilities, breweries, and community centers.
The broader development also includes six B3-zoned commercial lots. The stated B3 zoning supports a range of community-oriented commercial uses, including business and professional offices, retail, medical and dental facilities, restaurants, recreation centers, vocational schools, senior care facilities, breweries, and community centers.
Key Highlights
- 2,500‑square‑foot retail space in a four‑unit building
- End‑cap positioning with drive‑up windows on two sides
- Building completed in 2025
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
6.04%
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 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
Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 89%
Electronics 11%
Aurelio's Pizza
Dining
6,016 visits/mo
0.5 miles
AT&T
Electronics
765 visits/mo
0.5 miles
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
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Frequently Asked Questions
What type of property is this?
Retail space - Modern commercial space in a four-unit building near local schools and Route 41.
Where is this retail space located?
The property is located at 13861 Alexander St Unit B 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: 2,500‑square‑foot retail space in a four‑unit building; End‑cap positioning with drive‑up windows on two sides; Building completed in 2025
