Turnkey Retail and Office
For Sale
$249,950
176 Deanna Dr, Lowell, IN 46356
Fully remodeled storefront or office with private rear storage, restroom, and independent utilities on a high-traffic corridor.
Property Size1,023 SF
Price / SF$244.33
Days on Market96
Property Features for 176 Deanna Dr
General Information
Standard status
Active
Size
1,023 SF
Additional Details
Business Included
Yes
Traffic Count
18,702 vehicles/day
Building Details
Year Built
1978
Year Renovated
2022
Listing Agency:
SCHUPP Real Estate
Listed By:
John Schupp · License #RB14033846
(219) 775-2373
Source:
Realtopiare
Added: Jun 16
Changed: Sep 4
Last Checked: Sep 18 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 SCHUPP Real Estate
Investment Insights
Based on property information with market context.
This fully remodeled 1,023 sq ft turnkey space is ready for either retail use or professional office operations. The interior offers an open-concept layout with extensive 2022 upgrades, including modular track lighting, interior LED recessed lighting, and built-in slat walls that remain in place. Rear East wall shelving is included, and available equipment includes display cases and a refrigerated cooler, along with track downlight kits and full video surveillance that can be leased or purchased. The unit also provides private rear storage, a restroom, and laundry facilities, with independent rear access for more efficient day-to-day use. Exterior and major systems have been modernized with a new furnace, central AC, roof, and a refreshed exterior featuring maintenance-free siding and soffits.
The property is located on East Commercial Avenue in Lowell, positioned between the high school and Lowell Plaza shopping hub. Public remarks cite heavy daily traffic averaging 15,000 to 18,702 vehicles per day and monthly retail sales reported at 15–17K.
For tenants or buyers seeking a move-in-ready commercial footprint, this setup supports straightforward customer-facing operations while maintaining practical back-of-house convenience through the private storage, restroom, and independent rear access. Independent utility meters and deeded right-of-way access across common lots shared by units 170–176 provide paved parking for occupants. Overhead is described as predictable, with NIPSCO gas/electric averaging $185 per month plus base water, base sewer, and dumpster and snow-removal-related charges as outlined in the offering. Lease terms referenced include a 1-year minimum, with an option structure tied to contract-to-purchase based on lease terms and credit.
The property is located on East Commercial Avenue in Lowell, positioned between the high school and Lowell Plaza shopping hub. Public remarks cite heavy daily traffic averaging 15,000 to 18,702 vehicles per day and monthly retail sales reported at 15–17K.
For tenants or buyers seeking a move-in-ready commercial footprint, this setup supports straightforward customer-facing operations while maintaining practical back-of-house convenience through the private storage, restroom, and independent rear access. Independent utility meters and deeded right-of-way access across common lots shared by units 170–176 provide paved parking for occupants. Overhead is described as predictable, with NIPSCO gas/electric averaging $185 per month plus base water, base sewer, and dumpster and snow-removal-related charges as outlined in the offering. Lease terms referenced include a 1-year minimum, with an option structure tied to contract-to-purchase based on lease terms and credit.
Key Highlights
- Fully remodeled 1,023 SF turnkey retail storefront or professional office
- Private rear storage, restroom, laundry facilities, and independent rear access
- 2022 interior upgrades include plug‑and‑play modular track lighting, LED recessed lighting, and built‑in slat walls
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
$9,858
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
3.94%
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%
$197,160
$197.2K
Cap Rate 7%
$140,829
$140.8K
Cap Rate 9%
$109,533
$109.5K
Market Conditions
NOI Build-Up for 1,023 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
$14.7K $14.40/SF
− Vacancy
−$648 −$0.63/SF
EGI
$14.1K $13.77/SF
− OpEx
−$4.2K −$4.13/SF
NOI
$9.9K $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%
$197,160
Cap Rate 7%
$140,829
Cap Rate 9%
$109,533
Alternative Uses
Best Use
Retail
$140.8K
$123.2K – $164.3K
NOI $9,858 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$285.6K
$249.9K – $333.2K
NOI $19,991 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18,702 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
234
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
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Fully remodeled storefront or office with private rear storage, restroom, and independent utilities on a high-traffic corridor.
Where is this storefront property located?
The property is located at 176 Deanna Dr Lowell, IN.
What is the asking price?
The asking price for this property is $249,950.
What are key features of this property?
This property features: Fully remodeled 1,023 SF turnkey retail storefront or professional office; Private rear storage, restroom, laundry facilities, and independent rear access; 2022 interior upgrades include plug‑and‑play modular track lighting, LED recessed lighting, and built‑in slat walls
