Mixed-Use Property with
New
For Sale
$355,000
1950 Hart Street, Dyer, IN 46311
Commercial Sale, Dyer, IN
Property Size2,412 SF
Lot Size0.08 Acres
Price / SF$147.18
Days on Market4
Property Features for 1950 Hart Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use
Parking
8
Parking features
Open, Garage, On Street
Appliances
Dryer, Water Heater, Washer, Refrigerator, Microwave, Gas Range
Subdivision
Harts Add/Dyer
Lot features
Corner Lot
Elementary school district
Lake Central
Middle school district
Lake Central
High school district
Lake Central
Directions
Route 30 to Hart Street. North on Hart Street to Property
Standard status
Active
APN
451012377031000034
Size
2,412 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HARTS ADDITION BLOCK 11 S'LY PARCEL IN LOT 2 (41X108.15X26X115.52FT)
Tax Annual Amount
6217
Legal Description
HARTS ADDITION BLOCK 11 S'LY PARCEL IN LOT 2 (41X108.15X26X115.52FT)
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1896
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Renee Egnatz · License #227267792
(219) 808-7337
Added: Oct 7
Changed: Oct 8
Last Checked: Oct 10 at 9:06PM
MLS# 846504
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.
Investment Insights
Based on property information with market context.
This 2,412-square-foot mixed-use property includes retail space and a two-bedroom, one-bath apartment. The 0.079-acre parcel sits at the corner of Hart Street and Keilman Street in Dyer. Built in 1896, the building has forced-air, natural-gas heating and is served by public water and sewer. Appliances include a washer, dryer, refrigerator, microwave, gas range, and water heater.
Parking options include a garage, open parking, and on-street parking.
Parking options include a garage, open parking, and on-street parking.
Key Highlights
- 2,412 square feet on a 0.079‑acre parcel
- Retail space paired with a two‑bedroom, one‑bath apartment
- Corner location at Hart Street and Keilman Street
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
Yes
Paved road access
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
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Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A storefront and residential unit are combined in one property at a street corner.
Where is this mixed-use property located?
The property is located at 1950 Hart Street 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: 2,412 square feet on a 0.079‑acre parcel; Retail space paired with a two‑bedroom, one‑bath apartment; Corner location at Hart Street and Keilman Street
