Corner Storefront
For Sale
Contact for pricing
155 E Elizabeth Drive, Schererville, IN 46375
C-3 zoning and multiple curb cuts support retail, service, or medical uses.
Property Size2,327 SF
Lot Size0.57 Acres
Price / SF$279.33
Days on Market215
Property Features for 155 E Elizabeth Drive
General Information
Standard status
Active
Size
2,327 SF
Total Parking Spaces
20
Lot size
0.57 Acres
Property subtype
Retail
Zoning
C-3
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1990
Buildings
1
Stories
1
Listing Agency:
Ellsbury Group
(219) 805-5200
Listed By:
Tariq Suboh · License #RB20000815
Source:
Crexi
Added: Jan 27
Changed: Aug 30
Last Checked: Aug 30 at 9:34AM
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 Ellsbury Group
Investment Insights
Based on property information with market context.
This 0.57-acre commercial property includes a 2,327 building constructed in 1990 and remodeled within the last four years. Improvements include a new roof, parking lot, HVAC system, furnace, and updated interior. The corner-site configuration provides 200 feet of frontage along Elizabeth Drive and three curb cuts.
Positioned along US-30 in Schererville, the property has exposure to 37,000+ vehicles per day and is located in Lake County. C-3 zoning supports a broad range of commercial uses, including retail, service, and medical applications. The address is 155 E Elizabeth Drive, Schererville, Indiana 46375.
Positioned along US-30 in Schererville, the property has exposure to 37,000+ vehicles per day and is located in Lake County. C-3 zoning supports a broad range of commercial uses, including retail, service, and medical applications. The address is 155 E Elizabeth Drive, Schererville, Indiana 46375.
Key Highlights
- 0.57‑acre corner lot in Lake County
- 2,327 property size with a 1990 construction date
- Remodeled within the last four years
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
$22,424
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
3.45%
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%
$448,480
$448.5K
Cap Rate 7%
$320,343
$320.3K
Cap Rate 9%
$249,156
$249.2K
Market Conditions
NOI Build-Up for 2,327 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
$33.5K $14.40/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$32.0K $13.77/SF
− OpEx
−$9.6K −$4.13/SF
NOI
$22.4K $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%
$448,480
Cap Rate 7%
$320,343
Cap Rate 9%
$249,156
Alternative Uses
Best Use
Retail
$320.3K
$280.3K – $373.7K
NOI $22,424 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$649.6K
$568.4K – $757.9K
NOI $45,472 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
41k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Dining 7%
Speedway
Shops & Services
21,806 visits/mo
0.1 miles
Circle K
Shops & Services
16,350 visits/mo
0.2 miles
Schoop's Hamburgers
Dining
2,902 visits/mo
0.1 miles
Demographics for 46375, IN
24,051
Population
10,064
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,879
Density / Sq Mi
$89,646
Median Household Income
$51,448
Median Earnings
$1,250
Median Rent
$295,400
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.
Similar Off Market Nearby
- Schererville Florist & Gift Shop, Inc. — 44 E Joliet St, Schererville, IN 46375
- Kristina Lynn Floral — 1642 Britton Dr, Schererville, IN 46375
Frequently Asked Questions
What type of property is this?
Storefront property - C-3 zoning and multiple curb cuts support retail, service, or medical uses.
Where is this storefront property located?
The property is located at 155 E Elizabeth Drive Schererville, IN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 0.57‑acre corner lot in Lake County; 2,327 property size with a 1990 construction date; Remodeled within the last four years
