Mixed-Use Asset Near Crown
250 North Main Street Crown Point, IN 46307
250 North Main Street, Crown Point, IN, 46307
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For Sale
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Mixed-use property with residential and commercial units near Crown Point.
Property Size12,606 SF
Price / SF$190.31
Days on Market57
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
Listing Agency
eXp Commercial, LLC.
Listed by
Tony Mitidiero · License #RB14033343
Source
Crexi
Added: May 21 Checked: Jul 15 at 9:41 pm
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.
Investment Insights
Based on property information with market context.
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.
Key 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.
Local Financial Insights For Mixed Use
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 | $226.9k | $18.00 |
| − Vacancy | −$27.2k | −$2.16 |
| EGI | $199.7k | $15.84 |
| − OpEx | −$74.9k | −$5.94 |
| NOI | $124.8k | $9.90 |
12,606 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%
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 local authorities.
Property Analytics
Property Profile
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
Practitioner Service Location
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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 $2,399,000.
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.
