Retail Condo with
For Sale
$485,000
346 E Us Highway 30 Unit J, Schererville, IN 46375
Commercial Sale, Schererville, IN
Property Size2,632 SF
Lot Size2.40 Acres
Price / SF$184.27
Days on Market49
Property Features for 346 E Us Highway 30 Unit J
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking
25
Parking features
Off Street
Interior features
Ceiling Fan(s), Tray Ceiling(s), Open Floorplan, High Ceilings, Entrance Foyer
Subdivision
Fox Run Plaza Condo Inc
Directions
Highway 30 to Fox Run Plaza which is just East of cross street Austin Avenue in Schererville.
Standard status
Active
APN
451115330009000036
Size
2,632 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FOX RUN PLAZA UNIT J
Tax Annual Amount
5378
Legal Description
FOX RUN PLAZA UNIT J
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
freshly painted
new shingle roof
new furnace and A/C unit
40-gallon hot water tank
epoxy floor
large windows
sound system
acoustical ceiling
2 private offices/breakrooms
kitchen
2 bathrooms
utility room
laundry area
bonus room
utility sink
Building Details
Year built
2000
Listing Agency:
Advantage Realty Team, LLC
(219) 771-7000
Listed By:
John Rupp
(219) 928-2899
Added: Jul 3
Changed: Aug 19
Last Checked: Aug 20 at 3:06PM
MLS# 841700
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.
Investment Insights
Based on property information with market context.
This commercial condominium offers 2,632 square feet with an open showroom and foyer enhanced by large windows, an epoxy floor, high ceilings, and an acoustical ceiling that supports a sound system. The rear portion includes two private offices or breakrooms, a kitchen with countertops, cabinets, and sink, plus two bathrooms, including one with a shower.
Additional space includes a utility room, laundry area with washer and gas dryer hookups, a bonus room suited for storage, files, or office use, and a utility sink near the rear exterior door. Building improvements include a shingle roof installed in December 2025 and a furnace and A/C unit installed in 2021. Public water and public sewer serve the unit, with natural gas forced-air heat and off-street parking.
Additional space includes a utility room, laundry area with washer and gas dryer hookups, a bonus room suited for storage, files, or office use, and a utility sink near the rear exterior door. Building improvements include a shingle roof installed in December 2025 and a furnace and A/C unit installed in 2021. Public water and public sewer serve the unit, with natural gas forced-air heat and off-street parking.
Key Highlights
- 2632 square feet of commercial condominium space
- Open showroom and foyer with epoxy flooring and large windows
- Two private offices or breakrooms in the rear portion
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,363
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$507,260
$507.3K
Cap Rate 7%
$362,329
$362.3K
Cap Rate 9%
$281,811
$281.8K
Market Conditions
NOI Build-Up for 2,632 SF
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.
Gross rent
$37.9K $14.40/SF
− Vacancy
−$1.7K −$0.63/SF
EGI
$36.2K $13.77/SF
− OpEx
−$10.9K −$4.13/SF
NOI
$25.4K $9.64/SF
Area
Lake County, IN
Vacancy
4.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$507,260
Cap Rate 7%
$362,329
Cap Rate 9%
$281,811
Alternative Uses
Best Use
Retail
$362.3K
$317.0K – $422.7K
NOI $25,363 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$734.8K
$642.9K – $857.2K
NOI $51,433 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
48k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Dining 6%
Beauty & Spa 2%
Speedway
Shops & Services
21,806 visits/mo
0.3 miles
Circle K
Shops & Services
16,350 visits/mo
0.2 miles
Dollar General
Shops & Services
6,484 visits/mo
0.5 miles
Schoop's Hamburgers
Dining
2,902 visits/mo
0.3 miles
LA Tan
Beauty & Spa
842 visits/mo
0.5 miles
Demographics for 46375, IN
24,051
Population
10,064
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,879
Density / Sq Mi
$89,646
Median Household Income
$51,448
Median Earnings
$1,250
Median Rent
$295,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Well-maintained commercial unit with private offices, kitchen facilities, two bathrooms, and flexible support areas.
Where is this retail space located?
The property is located at 346 E Us Highway 30 Unit J Schererville, IN.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2632 square feet of commercial condominium space; Open showroom and foyer with epoxy flooring and large windows; Two private offices or breakrooms in the rear portion
