22-Unit Apartment
For Sale
$2,650,000
321 Hoffman Ct, Crown Point, IN 46307
Established multifamily property near downtown shopping, dining, events, and employers.
Property Size11,868 SF
Lot Size1.00 Acre
Price / SF$223.29
Days on Market223
Property Features for 321 Hoffman Ct
General Information
Standard status
Active
Size
11,868 SF
Lot size
1.00 Acre
Property subtype
Commercial
Additional Details
Multifamily Units
22
Building Details
Year Built
1965
Listing Agency:
Advanced Real Estate, LLC
Listed By:
Craig Frendling
(219) 746-2693
Source:
Nwindianahomesearcher
Added: Mar 6
Changed: Oct 1
Last Checked: Oct 14 at 11:18PM
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 Advanced Real Estate, LLC
Investment Insights
Based on property information with market context.
This apartment property contains 22 units across 11,868 square feet and was built in 1965. The asset occupies approximately 1 acre, providing a defined multifamily footprint in an established setting.
Located at 321 Hoffman Ct in Crown Point, Indiana, the property is one block from the Bulldog Park entertainment district. Downtown shopping, dining, events, and employers are also nearby, placing everyday amenities and community activity within close reach.
Located at 321 Hoffman Ct in Crown Point, Indiana, the property is one block from the Bulldog Park entertainment district. Downtown shopping, dining, events, and employers are also nearby, placing everyday amenities and community activity within close reach.
Key Highlights
- 22‑unit apartment property
- 11,868 square feet on approximately 1 acre
- Built in 1965
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,998
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,099,960
$2.1M
Cap Rate 7%
$1,499,971
$1.5M
Cap Rate 9%
$1,166,644
$1.2M
Market Conditions
NOI Build-Up for 11,868 SF
Gross rent
$202.2K $17.04/SF
− Vacancy
−$11.3K −$0.95/SF
EGI
$190.9K $16.09/SF
− OpEx
−$85.9K −$7.24/SF
NOI
$105.0K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,099,960
Cap Rate 7%
$1,499,971
Cap Rate 9%
$1,166,644
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,998 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.31M
$2.90M – $3.87M
NOI $231,916 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
842
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - Established multifamily property near downtown shopping, dining, events, and employers.
Where is this apartment building located?
The property is located at 321 Hoffman Ct Crown Point, IN.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 22‑unit apartment property; 11,868 square feet on approximately 1 acre; Built in 1965
