Retail Building Ready for
For Sale
$2,700,000
218 South East Street Crown, Crown Point, IN 46307
Gutted interior, new roof, and fire sprinklers support a customized retail buildout.
Property Size18,311 SF
Days on Market194
Property Features for 218 South East Street Crown
General Information
Standard status
Active
Size
18,311 SF
Total Parking Spaces
82
Property subtype
Street Retail
Property Condition
Severity
Repairs Needed
Evidence
completely gutted
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Furnished
No
Sprinkler System
Yes
Building Details
Building Size
18,311 SF
Year Built
1962
Buildings
1
Construction
steel frame
Listing Agency:
Commercial In-Sites
(219) 795-1100
Listed By:
David Lasser
(219) 795-1100
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 3:22AM
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 Commercial In-Sites
Investment Insights
Based on property information with market context.
This steel-framed retail building was constructed in 1962 with steel and brick exterior siding. The interior has been completely gutted for a new buildout, with a new roof and fire protection sprinkler system already installed. A lighted, double-faced pole sign stands on the north side of the property, and the site includes 82 parking spaces. Electrical service is 3 Phase 240V, 225+ AMP.
The property sits just east of downtown Crown Point Square and the Historic Court House, near the corner of East and Walnut Street. It is viewable from U.S. 231/East Street and is across from Centier Bank and Crown Brewing. The site is suitable for office, retail, or restaurant uses.
The property sits just east of downtown Crown Point Square and the Historic Court House, near the corner of East and Walnut Street. It is viewable from U.S. 231/East Street and is across from Centier Bank and Crown Brewing. The site is suitable for office, retail, or restaurant uses.
Key Highlights
- Completely gutted interior ready for buildout
- New roof and fire protection sprinkler system installed
- 82 parking spaces available
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
$176,454
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
6.54%
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%
$3,529,080
$3.5M
Cap Rate 7%
$2,520,771
$2.5M
Cap Rate 9%
$1,960,600
$2.0M
Market Conditions
NOI Build-Up for 18,311 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
$263.7K $14.40/SF
− Vacancy
−$11.6K −$0.63/SF
EGI
$252.1K $13.77/SF
− OpEx
−$75.6K −$4.13/SF
NOI
$176.5K $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%
$3,529,080
Cap Rate 7%
$2,520,771
Cap Rate 9%
$1,960,600
Alternative Uses
Best Use
Retail
$2.52M
$2.21M – $2.94M
NOI $176,454 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.11M
$4.47M – $5.96M
NOI $357,820 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
881
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Gutted interior, new roof, and fire sprinklers support a customized retail buildout.
Where is this retail space located?
The property is located at 218 South East Street Crown Crown Point, IN.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Completely gutted interior ready for buildout; New roof and fire protection sprinkler system installed; 82 parking spaces available
