Storefront Property with Adjoining Retail
For Sale
$1,300,000
1729-1735 E Commercial Ave, Lowell, IN 46356
Available storefront space is paired with an adjoining occupied building and a side delivery door.
Property Size9,120 SF
Price / SF$142.54
Days on Market152
Property Features for 1729-1735 E Commercial Ave
General Information
Standard status
Active
Size
9,120 SF
Property subtype
Retail
Amenities
side delivery door
Building Details
Building Size
9,120 SF
Year Built
1971
Buildings
2
Tenancy
Multi
Listing Agency:
Latitude Commercial
(219) 545-4328
Listed By:
Brett McDermott, CCIM · License #IN #RB14050416
(219) 545-4328
Source:
Latitudeco
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 30 at 2:19AM
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 Latitude Commercial
Investment Insights
Based on property information with market context.
This storefront property includes 7,560 SF of vacant space within a building constructed in 1971. The available area includes a side delivery door and is described as ready for occupancy. An adjoining 1,560 SF building is leased to Subway, which has maintained a 20-year occupancy history.
The property is located at 1729-1735 E Commercial Ave in Lowell, Indiana. Commercial Avenue is identified as a heavily traveled corridor, and the property is surrounded by national retailers. The combination of available storefront area, a separate leased building, and established retail surroundings creates a mixed-use configuration within the property.
The property is located at 1729-1735 E Commercial Ave in Lowell, Indiana. Commercial Avenue is identified as a heavily traveled corridor, and the property is surrounded by national retailers. The combination of available storefront area, a separate leased building, and established retail surroundings creates a mixed-use configuration within the property.
Key Highlights
- 7,560 SF vacant storefront space
- Adjoining 1,560 SF building leased to Subway
- Subway occupancy history of 20 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
$87,885
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
6.76%
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%
$1,757,700
$1.8M
Cap Rate 7%
$1,255,500
$1.3M
Cap Rate 9%
$976,500
$976.5K
Market Conditions
NOI Build-Up for 9,120 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
$131.3K $14.40/SF
− Vacancy
−$5.8K −$0.63/SF
EGI
$125.5K $13.77/SF
− OpEx
−$37.7K −$4.13/SF
NOI
$87.9K $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%
$1,757,700
Cap Rate 7%
$1,255,500
Cap Rate 9%
$976,500
Alternative Uses
Best Use
Retail
$1.26M
$1.10M – $1.46M
NOI $87,885 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.55M
$2.23M – $2.97M
NOI $178,216 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46356, IN
18,668
Population
7,290
Households
2.6
Avg Household Size
41
Median Age
20%
College-Educated
96%
High-School Grad
112.5 sq mi
ZIP Area
166
Density / Sq Mi
$87,535
Median Household Income
$51,151
Median Earnings
$1,190
Median Rent
$256,300
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?
Storefront property - Available storefront space is paired with an adjoining occupied building and a side delivery door.
Where is this storefront property located?
The property is located at 1729-1735 E Commercial Ave Lowell, IN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 7,560 SF vacant storefront space; Adjoining 1,560 SF building leased to Subway; Subway occupancy history of 20 years
