Conventional Restaurant with Carryout
399 Clark Street, Lowell, IN 46356
For Sale
$319,900
Commercial Sale, Lowell, IN
Property Size486 SF
Lot Size0.48 Acres
Price / SF$658.23
Days on Market210
Property Features for 399 Clark Street
General Information
Property type
Property subtype
Rooms
Parking
Basement
Directions
Standard status
APN
Size
Lot size
Additional Details
Business Included
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Listing Agency:
McColly Real Estate
(219) 663-3835
Listed By:
David Taylor · License IN RB14023719
(219) 306-7812
Added: Apr 15
Changed: Oct 24
Last Checked: Nov 10 at 12:06PM
MLS# 837126
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 conventional restaurant property combines a 486-square-foot building with 0.48 acres of land. The layout includes a customer-facing ordering area and a dedicated back-of-house kitchen. Commercial-grade equipment, POS transaction software, recipes, inventory, and the Faustinos name are included, along with 17 years of goodwill and a customer database of thousands.
Built in 1920, the property has natural gas heating, public water, and public sewer. A basement provides additional interior space. The carryout-oriented configuration supports food-service operations from an established restaurant setting at 399 Clark Street in Lowell, Indiana.
Built in 1920, the property has natural gas heating, public water, and public sewer. A basement provides additional interior space. The carryout-oriented configuration supports food-service operations from an established restaurant setting at 399 Clark Street in Lowell, Indiana.
Key Highlights
- 486‑square‑foot restaurant building on 0.48 acres
- Faustinos name and 17 years of goodwill included
- Commercial‑grade kitchen equipment and POS transaction software
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,497
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$189,940
$189.9K
Cap Rate 7%
$135,671
$135.7K
Cap Rate 9%
$105,522
$105.5K
Market Conditions
NOI Build-Up for 486 SF
Gross rent
$13.1K $27.00/SF
− Vacancy
−$459 −$0.95/SF
EGI
$12.7K $26.06/SF
− OpEx
−$3.2K −$6.51/SF
NOI
$9.5K $19.54/SF
Area
Lake County, IN
Vacancy
3.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$189,940
Cap Rate 7%
$135,671
Cap Rate 9%
$105,522
Alternative Uses
Best Use
Specialty Retail
$135.7K
$118.7K – $158.3K
NOI $9,497 @ 7.0% cap · market cap 2.97%
Second Best
Industrial
$40.3K
$35.3K – $47.0K
NOI $2,820 @ 7.0% cap · market cap 0.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46356, IN
18,668
Population
7,290
Households
2.6
Avg Household Size
41
Median Age
20%
College-Educated
96%
High-School Grad
112.5 sq mi
ZIP Area
166
Density / Sq Mi
$87,535
Median Household Income
$51,151
Median Earnings
$1,190
Median Rent
$256,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Lake County, IN
Properties on Market for Conventional restaurants in Lake County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped food-service property with front-of-house ordering space and an organized commercial kitchen.
Where is this conventional restaurant located?
The property is located at 399 Clark Street Lowell, IN.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: 486‑square‑foot restaurant building on 0.48 acres; Faustinos name and 17 years of goodwill included; Commercial‑grade kitchen equipment and POS transaction software
