Downtown Retail Building with
For Sale
$99,900
Pending
232 Main St, Hobart, IN 46342
For sale retail property near I-65 with visibility on Main St in Hobart, Indiana.
Property Size736 SF
Days on Market236
Property Features for 232 Main St
General Information
Standard status
Pending
Size
736 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1876
Listing Agency:
Ginter Realty
Listed By:
Carrie Adelman · License #RB14038267
(219) 973-1842
Source:
Nwindianahomesearcher
Added: Feb 23
Changed: Oct 1
Last Checked: Oct 16 at 9:26AM
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 Ginter Realty
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Investment Insights
Based on property information with market context.
This for-sale downtown commercial property at 232 Main St, Hobart, Indiana is positioned for strong street-level exposure. The offering includes a retail building with approximately 736 square feet of space.
Public remarks highlight convenient access “just minutes from I-65,” supporting easy routes for customers and deliveries. The location is presented as being in the heart of the downtown area, with visibility and charm noted for the storefront environment.
The building is being marketed as a bank and retail-oriented commercial opportunity, offering a compact footprint that may suit users looking for a presence on Main St.
Public remarks highlight convenient access “just minutes from I-65,” supporting easy routes for customers and deliveries. The location is presented as being in the heart of the downtown area, with visibility and charm noted for the storefront environment.
The building is being marketed as a bank and retail-oriented commercial opportunity, offering a compact footprint that may suit users looking for a presence on Main St.
Key Highlights
- Retail property for sale near I‑65 in Hobart, Indiana
- Located with visibility on Main St in Hobart
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,092
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$141,840
$141.8K
Cap Rate 7%
$101,314
$101.3K
Cap Rate 9%
$78,800
$78.8K
Market Conditions
NOI Build-Up for 736 SF
Gross rent
$10.6K $14.40/SF
− Vacancy
−$466 −$0.63/SF
EGI
$10.1K $13.77/SF
− OpEx
−$3.0K −$4.13/SF
NOI
$7.1K $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 Rate 5%
$141,840
Cap Rate 7%
$101,314
Cap Rate 9%
$78,800
Alternative Uses
Best Use
Specialty Retail
$205.5K
$179.8K – $239.7K
NOI $14,382 @ 7.0% cap · market cap 14.40%
Second Best
Retail
$101.3K
$88.7K – $118.2K
NOI $7,092 @ 7.0% cap · market cap 7.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Home Improvements & Furnishings 12%
Family Express
Shops & Services
9,636 visits/mo
0.4 miles
Chase Bank
Shops & Services
7,661 visits/mo
0.2 miles
Citgo
Shops & Services
3,737 visits/mo
0.2 miles
Hobart Ace Hardware
Home Improvements & Furnishings
3,610 visits/mo
0.4 miles
Dollar General
Shops & Services
2,827 visits/mo
0.1 miles
Demographics for 46342, IN
32,540
Population
13,774
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
35.0 sq mi
ZIP Area
930
Density / Sq Mi
$72,163
Median Household Income
$41,574
Median Earnings
$1,110
Median Rent
$193,400
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
Frequently Asked Questions
What type of property is this?
Bank - For sale retail property near I-65 with visibility on Main St in Hobart, Indiana.
Where is this bank located?
The property is located at 232 Main St Hobart, IN.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: Retail property for sale near I‑65 in Hobart, Indiana; Located with visibility on Main St in Hobart
