Building Details

Year Built 1952

Buildings 1

Stories 1

Tenancy Multi

Listing Agency: McColly Real Estate

Listed By: Michael Siwietz · License #RB14041675 Show Phone

Source: Nwindianahomesearcher

Added: Oct 6 Changed: Oct 25 Last Checked: Oct 26 at 4:48PM

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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

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Investment Insights

Based on property information with market context.

This 3,677-square-foot, single-story storefront was built in 1952 and is configured as two units. One operates as a general store offering beachwear, camping goods, rental bikes, sea kayaks, and paddleboards; the other is occupied by a wine and spirits retailer. Paved customer parking accommodates 8 vehicles. A 95' x 54' overflow lot to the west is currently leased to a restaurant across Dunes Highway.

The property occupies the northwest corner of the signalized intersection of Dunes Highway (US Hwy. 12) and Broadway in Beverly Shores. It is directly across Dunes Highway from park campgrounds and next to the Marquette Greenway Bike Path.

Key Highlights

• 3,677 SF single‑story building, constructed in 1952
• Two retail units, including a general store and a wine and spirits retailer
• General store carries beachwear and camping goods and rents bikes, sea kayaks, and paddleboards

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,853

Cap Rate

7.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,437,060 $1.4M

Cap Rate 7%

$1,026,471 $1.0M

Cap Rate 9%

$798,367 $798.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,677 SF

Gross rent

$99.3K $27.00/SF

− Vacancy

−$3.5K −$0.95/SF

EGI

$95.8K $26.06/SF

− OpEx

−$24.0K −$6.51/SF

NOI

$71.9K $19.54/SF

Area

Porter County, IN

Vacancy

3.50%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,437,060

Cap Rate 7%

$1,026,471

Cap Rate 9%

$798,367

Alternative Uses

Best Use

Specialty Retail

$1.03M

$898.2K – $1.20M (±1% cap)

NOI $71,853 @ 7.0% cap · market cap 7.56%

Second Best

Retail

$739.7K

$647.3K – $863.0K (±1% cap)

NOI $51,782 @ 7.0% cap · market cap 5.45%

Theoretical Best

Healthcare Medical

$1.39M

$1.22M – $1.63M (±1% cap)

NOI $97,553 @ 7.0% cap · market cap 10.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Jannsen's Dunes Mart Grocery & Convenience Store Ana McNamara Law ... Law Firm South Shore Ovenworks Restaurant Hobgoblin Specialty Food Shop

Suggested Use

Top Pick Parking Lot & Garage Furniture & Home Goods Catering Service Grocery & Convenience Store Food Market Wine and Liquor Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

66

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 46301, IN

580

Population

510

Households

1.1

Avg Household Size

63

Median Age

72%

College-Educated

99%

High-School Grad

4.4 sq mi

ZIP Area

132

Density / Sq Mi

$118,750

Median Household Income

$71,944

Median Earnings

$581,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Storefront property - A general store and a separate retail tenant occupy two units, with customer parking and overflow parking nearby.

Where is this storefront property located?

The property is located at 2 W Dunes Hwy Beverly Shores, IN.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 3,677 SF single‑story building, constructed in 1952; Two retail units, including a general store and a wine and spirits retailer; General store carries beachwear and camping goods and rents bikes, sea kayaks, and paddleboards