Mixed-Use Property with
New
For Sale
$355,000
1950 Hart St, Dyer, IN 46311
Retail space is paired with a two-bedroom, one-bath apartment in a single property.
Property Size2,412 SF
Price / SF$147.18
Days on Market4
Property Features for 1950 Hart St
General Information
Standard status
Active
Size
2,412 SF
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$6,217
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Renee Egnatz · License #227267792
(219) 808-7337
Source:
Exprealty
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 10 at 2:51AM
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 mixed-use property at 1950 Hart St. combines a retail component with a two-bedroom, one-bath apartment. The property occupies the corner of Hart Street and Keilman Street in Dyer, Indiana.
Retail occupancy and rental income are identified alongside the residential space. Any live/work use is subject to existing tenancy and applicable approvals.
Retail occupancy and rental income are identified alongside the residential space. Any live/work use is subject to existing tenancy and applicable approvals.
Key Highlights
- Two‑bedroom, one‑bath apartment alongside retail space
- Corner location at Hart Street and Keilman Street in Dyer, Indiana
- Retail occupancy and rental income identified
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,879
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$477,580
$477.6K
Cap Rate 7%
$341,129
$341.1K
Cap Rate 9%
$265,322
$265.3K
Market Conditions
NOI Build-Up for 2,412 SF
Gross rent
$43.4K $18.00/SF
− Vacancy
−$5.2K −$2.16/SF
EGI
$38.2K $15.84/SF
− OpEx
−$14.3K −$5.94/SF
NOI
$23.9K $9.90/SF
Area
Lake County, IN
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$477,580
Cap Rate 7%
$341,129
Cap Rate 9%
$265,322
Alternative Uses
Best Use
Mixed Use
$341.1K
$298.5K – $398.0K
NOI $23,879 @ 7.0% cap · market cap 6.73%
Second Best
Retail
$332.0K
$290.5K – $387.4K
NOI $23,243 @ 7.0% cap · market cap 6.55%
Theoretical Best
Specialty Retail
$673.3K
$589.2K – $785.6K
NOI $47,133 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
37k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
14,970 visits/mo
0.1 miles
Dollar Tree
Shops & Services
14,595 visits/mo
0.1 miles
Exxon
Shops & Services
7,428 visits/mo
0.4 miles
Demographics for 46311, IN
22,431
Population
9,128
Households
2.5
Avg Household Size
43
Median Age
37%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
1,780
Density / Sq Mi
$109,167
Median Household Income
$58,332
Median Earnings
$1,221
Median Rent
$300,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space is paired with a two-bedroom, one-bath apartment in a single property.
Where is this mixed-use property located?
The property is located at 1950 Hart St Dyer, IN.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath apartment alongside retail space; Corner location at Hart Street and Keilman Street in Dyer, Indiana; Retail occupancy and rental income identified
