Mixed-Use Property with
1950 Hart Street, Dyer, IN 46311
For Sale
$355,000
Commercial Sale, Dyer, IN
Property Size2,412 SF
Lot Size0.08 Acres
Price / SF$147.18
Days on Market35
Property Features for 1950 Hart Street
General Information
Property type
Property subtype
Zoning description
Parking
Parking features
Appliances
Subdivision
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Site & Location
Corner Location
Mixed-Use Components
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Renee Egnatz · License IN #227267792
(219) 808-7337
Added: Oct 7
Changed: Nov 10
Last Checked: Nov 10 at 5:06PM
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.
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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.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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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
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Market
Properties on Market for Mixed-use properties in Lake County
Vacancy Rate% for Retail in Midwest region
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
