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    Mixed-Use Asset Near Crown Point Title is generated by Realmo AI

    250 North Main Street, Crown Point, IN 46307

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    Mixed-use property with residential and commercial units near Crown Point.

    Type:Office, Mixed Use
    Property size:
    12,606 SF
    Price / SF:
    $206/SF
    Added:
    May 21, 2026
    Days on Market:
    12
    Last Refresh:
    May 27 at 8:17 am

    Property Features for 250 North Main Street

    General Information

    Standard status
    Active
    Size
    12,606 SF
    Property subtype
    Office, Mixed Use

    Building Details

    Year Built
    1969

    We can help!

    Listing Contact
    Tony Mitidiero

    Listing agent Tony Mitidiero License #471000579

    Listing office eXp Commercial, LLC.

    Listing date May 21, 2026

    Source Crexi

    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 eXp Commercial, LLC.

    HighLights

    • Strong cash flow with great tenants in place.
    • Mixed‑use property with four residential units (including in‑unit laundry) and twelve commercial spaces.
    • Located in a high‑visibility corridor, 2.5 blocks from Crown Point Square.
    • Recent capital improvements including roof, windows, and entranceways.
    • Originally designed as 12 units, currently structured as 16 units.
    • Excellent condition and high build quality.

    Overview

    This mixed-use property is located within walking distance of Crown Point Square. Originally designed as 12 units, the property is currently configured as 16 units. It features four 1,000 sq. ft. two-bedroom residential units, each equipped with in-unit laundry. Additionally, there are twelve commercial spaces, along with a shared conference room and breakroom for the lower-level tenants. The property has undergone recent capital improvements, including the mansard roof, flat roof, windows, gutters, soffits, fascia, and the two entranceways with new aluminum wrap and new individual roofs, plus new mailboxes and a furnace pump. The building has a total size of 12,606 sq. ft. This property is positioned for a long-term investor or business owner-occupant seeking diversified income as Crown Point grows as the hub of Northwest Indiana.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $272.3k $21.60
    − Vacancy −$59.1k −$4.69
    EGI $213.2k $16.91
    − OpEx −$53.3k −$4.23
    NOI $159.9k $12.68
    12,606 SF · lease $21.60/SF/yr · vacancy 21.70% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $2.28M
    $2.00M – $2.67M (±1% cap)
    NOI $159,902 @ 7.0% cap · market cap 6.15%
    Second Best
    Mixed Use
    $1.78M
    $1.56M – $2.08M (±1% cap)
    NOI $124,799 @ 7.0% cap · market cap 4.80%
    Theoretical Best
    Specialty Retail
    $3.52M
    $3.08M – $4.11M (±1% cap)
    NOI $246,337 @ 7.0% cap · market cap 9.47%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    The Dollhouse NWI Nail Salon Plump You Up, ... Spa & Massage Center Ooh Nice Nails Nail Salon Skin by Jo ... Spa & Massage Center Gisele Ploog Counselor

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crown Point
    County
    Lake
    State
    Indiana
    Longitude
    -87.363915
    Latitude
    41.4213098

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with residential and commercial units near Crown Point.
    Where is this mixed-use property located?
    The property is located at 250 North Main Street Crown Point, IN.
    What is the asking price?
    The asking price for this property is $2,599,900.
    What are key features of this property?
    This property features: Strong cash flow with great tenants in place.; Mixed‑use property with four residential units (including in‑unit laundry) and twelve commercial spaces.; Located in a high‑visibility corridor, 2.5 blocks from Crown Point Square.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tony Mitidiero
    Real Estate License ID: 471000579
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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