Versatile Mixed-Use Property with
For Sale
$549,999
3447 45th St, Highland, IN
Mixed-use property featuring commercial space, residence, and liquor license.
Property Size5,374 SF
Price / SF$102.34
Days on Market256
Property Features for 3447 45th St
General Information
Standard status
Active
Size
5,374 SF
Taxes and HOA fees
Annual Taxes
$6,458
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Anthony Christopher · License #RB22001074
(708) 715-6193
Source:
Exprealty
Added: Jan 29
Changed: Oct 11
Last Checked: Oct 11 at 11:15AM
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 McColly Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property includes a commercial space, a residential unit, and a liquor license. The former Monty's Bar has been fully gutted. The property also features a commercial garage that connects directly to a 3-bedroom, 3-bath residence with a partially finished basement. The total property size is 5374 square feet. This property is suitable for owner-operators or cash-flow investors.
Key Highlights
- Includes a liquor license.
- Versatile property suitable for owner‑operators or investors.
- Combines commercial and residential spaces: former bar and garage with a 3‑bedroom, 3‑bath residence.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,511
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,220
$770.2K
Cap Rate 7%
$550,157
$550.2K
Cap Rate 9%
$427,900
$427.9K
Market Conditions
NOI Build-Up for 5,374 SF
Gross rent
$67.7K $12.60/SF
− Vacancy
−$6.1K −$1.13/SF
EGI
$61.6K $11.47/SF
− OpEx
−$23.1K −$4.30/SF
NOI
$38.5K $7.17/SF
Area
Vermillion County, IN
Vacancy
9.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,220
Cap Rate 7%
$550,157
Cap Rate 9%
$427,900
Alternative Uses
Best Use
Mixed Use
$550.2K
$481.4K – $641.9K
NOI $38,511 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$950.7K
$831.9K – $1.11M
NOI $66,552 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,049
Businesses Nearby
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Business Placement
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring commercial space, residence, and liquor license.
Where is this mixed-use property located?
The property is located at 3447 45th St Highland, IN.
What is the asking price?
The asking price for this property is $549,999.
What are key features of this property?
This property features: Includes a liquor license.; Versatile property suitable for owner‑operators or investors.; Combines commercial and residential spaces: former bar and garage with a 3‑bedroom, 3‑bath residence.
