Mixed-Use Property with 16
For Sale
$2,399,000
250 N Main Street, Crown Point, IN 46307
Commercial Sale, Crown Point, IN
Property Size12,606 SF
Lot Size0.13 Acres
Price / SF$190.31
Days on Market138
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
Building Details
Year built
1969
Listing Agency:
eXp Realty, LLC
(888) 611-3912
Listed By:
Tony Mitidiero
(708) 259-3734
Added: May 21
Changed: Sep 5
Last Checked: Oct 5 at 5:06PM
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 mixed-use property contains 16 units, including four 1,000-square-foot two-bedroom apartments with in-unit laundry and twelve commercial spaces. Lower-level commercial occupants also have access to a shared conference room and breakroom. The building dates to 1969 and is served by hot water heating, public water, public sewer, and off-street parking.
Recent improvements include work to the mansard and flat roofs, windows, gutters, soffits, fascia, entranceways, aluminum exterior wraps, individual entrance roofs, mailboxes, and a furnace pump. The property is located at 250 N Main Street in Crown Point, approximately 2.5 blocks from Crown Point Square.
Recent improvements include work to the mansard and flat roofs, windows, gutters, soffits, fascia, entranceways, aluminum exterior wraps, individual entrance roofs, mailboxes, and a furnace pump. The property is located at 250 N Main Street in Crown Point, approximately 2.5 blocks from Crown Point Square.
Key Highlights
- 16‑unit configuration with 4 residential apartments and 12 commercial spaces
- Four 1,000‑square‑foot two‑bedroom apartments with in‑unit laundry
- Shared conference room and breakroom for lower‑level commercial tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,799
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
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
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 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
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Diversified property combining residential apartments, commercial suites, and shared lower-level tenant 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: 16‑unit configuration with 4 residential apartments and 12 commercial spaces; Four 1,000‑square‑foot two‑bedroom apartments with in‑unit laundry; Shared conference room and breakroom for lower‑level commercial tenants
