Two-Building Industrial
For Sale
$350,000
3777 Vermont St, Gary, IN 46409
M1-2 property with warehouse space, outdoor storage, and access for trucks and heavy equipment.
Property Size4,226 SF
Price / SF$82.82
Days on Market13
Property Features for 3777 Vermont St
General Information
Standard status
Active
Size
4,226 SF
Zoning
M1-2
Additional Details
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$4,000
Building Details
Buildings
2
Listing Agency:
Integrity Realty Partners
(219) 628-3432
Listed By:
Angela Manning · License #RB17000786
(219) 628-3432
Source:
Exprealty
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 11 at 5:14AM
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 Integrity Realty Partners
Investment Insights
Based on property information with market context.
This industrial property comprises two freestanding warehouse buildings totaling 4,226 square feet across four separate parcels. The improvements include open-span warehouse areas, high ceilings, concrete floors, overhead lighting, and existing warehouse racking. The second building provides additional warehouse or storage capacity for operations requiring separate work areas.
M1-2 Light Industrial zoning supports a range of industrial applications, subject to verification of intended use and applicable requirements. The site also includes a gravel yard with abundant parking and outdoor storage areas. Access accommodates semi-trucks, trailers, and heavy equipment, adding practical functionality for storage, logistics, contracting, manufacturing, distribution, automotive, and related industrial operations.
M1-2 Light Industrial zoning supports a range of industrial applications, subject to verification of intended use and applicable requirements. The site also includes a gravel yard with abundant parking and outdoor storage areas. Access accommodates semi-trucks, trailers, and heavy equipment, adding practical functionality for storage, logistics, contracting, manufacturing, distribution, automotive, and related industrial operations.
Key Highlights
- 4,226 SF across two freestanding warehouse buildings
- Four separate parcels included
- M1‑2 Light Industrial zoning
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
$29,771
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
8.51%
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%
$595,420
$595.4K
Cap Rate 7%
$425,300
$425.3K
Cap Rate 9%
$330,789
$330.8K
Market Conditions
NOI Build-Up for 4,226 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
$37.0K $8.76/SF
− Vacancy
−$2.0K −$0.47/SF
EGI
$35.0K $8.29/SF
− OpEx
−$5.3K −$1.24/SF
NOI
$29.8K $7.04/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$595,420
Cap Rate 7%
$425,300
Cap Rate 9%
$330,789
Alternative Uses
Best Use
Warehouse
$425.3K
$372.1K – $496.2K
NOI $29,771 @ 7.0% cap · market cap 8.51%
Second Best
Industrial
$350.2K
$306.5K – $408.6K
NOI $24,517 @ 7.0% cap · market cap 7.00%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,581 @ 7.0% cap · market cap 23.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46409, IN
6,975
Population
4,238
Households
1.6
Avg Household Size
35
Median Age
12%
College-Educated
85%
High-School Grad
3.6 sq mi
ZIP Area
1,938
Density / Sq Mi
$40,637
Median Household Income
$29,769
Median Earnings
$1,194
Median Rent
$73,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - M1-2 property with warehouse space, outdoor storage, and access for trucks and heavy equipment.
Where is this warehouse located?
The property is located at 3777 Vermont St Gary, IN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 4,226 SF across two freestanding warehouse buildings; Four separate parcels included; M1‑2 Light Industrial zoning
