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    Turnkey Veterinary Clinic Opportunity Title is generated by Realmo AI

    1642 E Commercial Avenue, Lowell, IN 46356

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    For Sale
    $600,000

    SINGLE_FAMILY - Lowell, IN

    Type:Retail
    Property size:
    3,566 SF
    Lot size:
    0.61 Acres
    Price / SF:
    $168/SF
    Added:
    Jan 5, 2026
    Days on Market:
    131
    Last Refresh:
    May 16 at 12:06 pm

    Property Features for 1642 E Commercial Avenue

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking
    24
    Parking features
    Off Street
    Security features
    Security Lighting
    Interior features
    Entrance Foyer
    Exterior features
    Lighting, Rain Gutters
    Standard status
    Active
    APN
    451925127003000008
    Size
    3,566 SF
    Lot size
    0.61 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    W.120FT OF E.443.55FT OF N.227.93FT OF NE.1/4 NW.1/4 S.25 T.33 R.9 EX. PT. IN R/W 0.612AC
    Tax Annual Amount
    8354

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1955

    We can help!

    Listing Contact
    John Schupp

    Listing agent John Schupp License #471020157

    Listing office SCHUPP Real Estate 170 Deanna Dr., Lowell, IN

    Listing date Jan 5, 2026

    MLS# 832404

    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.

    HighLights

    • Prime location on State Road 2 (Commercial Ave) with high visibility and traffic, offering unparalleled local recognition.
    • Turnkey veterinary clinic opportunity, fully equipped 3,500sf facility ready for immediate use.
    • Optimal layout designed for medical use, including reception area, exam rooms, and surgical/dental suites.
    • Significant parking on a 0.61‑acre lot with room for potential expansion.
    • Strong local market in Lowell with growing home values and demand for community services, presenting an opportunity to capture the previous clinic's client base.
    • Equipped with robust plumbing and electrical systems, onsite radiology, zoned Heating & Cooling + New Roof in 2020.

    Overview

    This 3,500 square foot facility presents a turnkey opportunity for a veterinary provider or specialty pet care service. Previously operating as Bardens Animal Clinic, the property is located directly on State Road 2 (Commercial Ave) and benefits from high daily traffic counts. The 0.61-acre lot provides parking for staff and clients, with room for potential expansion. Constructed in 1955 and meticulously maintained, the facility is designed for a calm, comfortable animal environment. The layout includes a professional reception area, multiple exam rooms, and dedicated surgical/dental suites. It is equipped with plumbing and electrical systems required for high-intensity medical/dental equipment, onsite radiology, and zoned Heating & Cooling. A new roof was installed in 2020. The property offers exposure on the primary artery for Lowell and Southern Lake County. The location is suitable for a medical practice, retail boutique, or a professional service hub. The Lowell market is experiencing steady growth with increasing home values and a strong demand for local community services. The previous clinic closed in late 2025, creating an opportunity for a new provider to capture the local client base. Lease Purchase / Contract options are also available.

    Financial Insights

    Value Estimation Calculated for Healthcare Medical

    Conservative
    $554.6K
    NOI $49,913 @ 9.00% cap · cautious / downside scenario
    Moderate
    $713.0K
    NOI $49,913 @ 7.00% cap · market / base-case scenario
    Aggressive
    $998.3K
    NOI $49,913 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Healthcare Medical

    Component $ $/SF
    Gross rent $92.4k $25.92
    − Vacancy −$9.2k −$2.59
    EGI $83.2k $23.33
    − OpEx −$33.3k −$9.33
    NOI $49.9k $14.00
    3,566 SF · lease $25.92/SF/yr · vacancy 10.00% · expense 40.00%

    Alternative Use Scenarios

    Best Use
    Healthcare Medical
    $713.0K
    $623.9K – $831.9K (±1% cap)
    NOI $49,913 @ 7.0% cap · market cap 8.32%
    Second Best
    Retail
    $490.9K
    $429.6K – $572.7K (±1% cap)
    NOI $34,364 @ 7.0% cap · market cap 5.73%
    Theoretical Best
    Specialty Retail
    $995.5K
    $871.1K – $1.16M (±1% cap)
    NOI $69,684 @ 7.0% cap · market cap 11.61%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Lake
    State
    Indiana
    Longitude
    -87.4021289
    Latitude
    41.2895406

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    FAQs

    What type of property is this?
    Storefront property - Equipped 3,500sf facility on State Road 2 in Lowell, IN.
    Where is this storefront property located?
    The property is located at 1642 E Commercial Avenue Lowell, IN.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Prime location on State Road 2 (Commercial Ave) with high visibility and traffic, offering unparalleled local recognition.; Turnkey veterinary clinic opportunity, **fully equipped 3,500sf facility ready for immediate use.**; Optimal layout designed for medical use, including reception area, exam rooms, and surgical/dental suites.
    (219) 775-2373
    We can help!
    Listing Contact
    John Schupp
    Real Estate License ID: 471020157
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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