22-Unit Apartment
For Sale
$2,650,000
321 Hoffman Court, Crown Point, IN 46307
Commercial Sale, Crown Point, IN
Property Size11,868 SF
Lot Size1.33 Acres
Price / SF$223.29
Days on Market140
Property Features for 321 Hoffman Court
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
22
Parking features
Off Street
Exterior features
Lighting, Storage, Rain Gutters
Subdivision
Said Add
Lot features
Private
Directions
From Downtown CP; South on Court St to Walnut, Right on Walnut that shifts a bit at West St but stay on Walnut a few blocks to Hoffman St; Left on Hoffman which will veer around to the right to the parking area between bldgs
Standard status
Active
APN
451608155017000042
Size
11,868 SF
Lot size
1.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT. NW1/4 S.8 T.34 R.8 1.029AC.
Tax Annual Amount
12669
Legal Description
PT. NW1/4 S.8 T.34 R.8 1.029AC.
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1965
Additional Structures
Storage
Listing Agency:
Advanced Real Estate, LLC
(219) 595-2007
Listed By:
Craig Frendling
(219) 746-2693
Added: Jun 18
Changed: Oct 24
Last Checked: Nov 4 at 12:06AM
MLS# 840918
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.
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Investment Insights
Based on property information with market context.
This 22-unit apartment property occupies approximately 1.334 acres and includes 11,868 square feet of building area. Constructed in 1965, the asset provides off-street parking along with storage, exterior lighting, and rain gutters. Heating is supplied by natural gas and forced-air systems.
The property is located at 321 Hoffman Court in Crown Point, Indiana, one block from the Bulldog Park entertainment district. Downtown shopping, dining, events, and local employers are identified as nearby area amenities. Public water and public sewer serve the property.
The property is located at 321 Hoffman Court in Crown Point, Indiana, one block from the Bulldog Park entertainment district. Downtown shopping, dining, events, and local employers are identified as nearby area amenities. Public water and public sewer serve the property.
Key Highlights
- 22‑unit apartment property with 11,868 square feet of building area
- Approximately 1.334 acres at 321 Hoffman Court, Crown Point, IN 46307
- One block from the Bulldog Park entertainment district
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
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Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property near Bulldog Park and downtown Crown Point with off-street parking and public utilities.
Where is this apartment building located?
The property is located at 321 Hoffman Court 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 with 11,868 square feet of building area; Approximately 1.334 acres at 321 Hoffman Court, Crown Point, IN 46307; One block from the Bulldog Park entertainment district
