Mixed-Use Property with Residential
For Sale
$2,399,000
250 N Main Street, Crown Point, IN 46307
COMMERCIAL - Crown Point, IN
Property Size12,606 SF
Lot Size0.13 Acres
Price / SF$190.31
Days on Market92
Property Features for 250 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
22
Parking features
Off Street
Subdivision
Railroad Add To Crown Point
View
City
Directions
2.5 Blocks North of the Crown Point Square on Main Street.
Standard status
Active
APN
451605460004000042
Size
12,606 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT. SE. (51 X 120 FT.) S.5 T.34 R.8 .13 A.
Tax Annual Amount
26019
Legal Description
PT. SE. (51 X 120 FT.) S.5 T.34 R.8 .13 A.
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Amenities
in-unit laundry
shared conference room breakroom
Building Details
Year built
1969
Listing Agency:
eXp Realty, LLC
(888) 611-3912
Listed By:
Tony Mitidiero
(708) 259-3734
Added: May 21
Changed: Aug 19
Last Checked: Aug 20 at 2:06AM
MLS# 839259
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 12,606-square-foot mixed-use property contains four residential apartments and twelve commercial spaces. Each apartment offers two bedrooms, 1,000 square feet, and in-unit laundry. Lower-level commercial occupants share a conference room and breakroom. The building dates to 1969 and includes hot-water heating, off-street parking, public water, and public sewer.
Located at 250 N Main Street in Crown Point, the property is within a 2.5-block walk of Crown Point Square. Recent capital work includes improvements to the mansard and flat roofs, windows, gutters, soffits, fascia, entranceways, aluminum exterior wrapping, individual entrance roofs, mailboxes, and a furnace pump. The existing configuration combines residential and commercial space within one property and supports an owner-user or investor seeking diversified occupancy.
Located at 250 N Main Street in Crown Point, the property is within a 2.5-block walk of Crown Point Square. Recent capital work includes improvements to the mansard and flat roofs, windows, gutters, soffits, fascia, entranceways, aluminum exterior wrapping, individual entrance roofs, mailboxes, and a furnace pump. The existing configuration combines residential and commercial space within one property and supports an owner-user or investor seeking diversified occupancy.
Key Highlights
- 12,606 square feet on 0.13 acres
- Four 1,000 sq. ft. two‑bedroom residential units with in‑unit laundry
- Twelve commercial spaces plus a shared conference room and breakroom
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
$124,799
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
5.20%
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%
$2,495,980
$2.5M
Cap Rate 7%
$1,782,843
$1.8M
Cap Rate 9%
$1,386,656
$1.4M
Market Conditions
NOI Build-Up for 12,606 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
$226.9K $18.00/SF
− Vacancy
−$27.2K −$2.16/SF
EGI
$199.7K $15.84/SF
− OpEx
−$74.9K −$5.94/SF
NOI
$124.8K $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 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%
$2,495,980
Cap Rate 7%
$1,782,843
Cap Rate 9%
$1,386,656
Alternative Uses
Best Use
Mixed Use
$1.78M
$1.56M – $2.08M
NOI $124,799 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$1.59M
$1.39M – $1.86M
NOI $111,527 @ 7.0% cap · market cap 4.65%
Theoretical Best
Specialty Retail
$3.52M
$3.08M – $4.11M
NOI $246,337 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,226
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 Multifamily 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?
Mixed-use property - Residential units complement commercial spaces and shared lower-level amenities.
Where is this mixed-use property located?
The property is located at 250 N Main Street Crown Point, IN.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 12,606 square feet on 0.13 acres; Four 1,000 sq. ft. two‑bedroom residential units with in‑unit laundry; Twelve commercial spaces plus a shared conference room and breakroom
