Fully Equipped Restaurant
For Sale
$329,900
399 Clark Street, Lowell, IN 46356
Commercial Sale, Lowell, IN
Property Size486 SF
Lot Size0.48 Acres
Price / SF$678.81
Days on Market135
Property Features for 399 Clark Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Rooms
Basement
Parking
12
Basement
Partially Finished, Finished
Directions
US 41 to Rt 2 to stop & go light turn left on Mill street to Y in road.
Standard status
Active
APN
451923331001000008
Size
486 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT. SW. S.23 T.33 R.9 .48 A.
Tax Annual Amount
3294
Legal Description
PT. SW. S.23 T.33 R.9 .48 A.
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1920
Listing Agency:
McColly Real Estate
(219) 663-3835
Listed By:
David Taylor · License #RB14023719
(219) 306-7812
Added: Apr 15
Changed: Aug 19
Last Checked: Aug 27 at 10:06AM
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.
Investment Insights
Based on property information with market context.
This 486-square-foot restaurant property includes the land and building, a customer-facing ordering area, and a commercial kitchen. The sale includes the Faustinos name, 17 years of goodwill, recipes, commercial-grade kitchen equipment, POS transaction software, inventory, and a customer database containing thousands of contacts.
Built in 1920, the property occupies 0.48 acres at 399 Clark Street in Lowell, Indiana. Natural gas heating serves the building, with public water and public sewer. A basement provides additional on-site space.
Built in 1920, the property occupies 0.48 acres at 399 Clark Street in Lowell, Indiana. Natural gas heating serves the building, with public water and public sewer. A basement provides additional on-site space.
Key Highlights
- 486 square feet on 0.48 acres
- Sale includes the Faustinos name and 17 years of goodwill
- Commercial‑grade kitchen equipment, POS software, recipes, and inventory included
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
$9,497
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
2.88%
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%
$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
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
$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 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%
$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 2.88%
Second Best
Industrial
$40.3K
$35.3K – $47.0K
NOI $2,820 @ 7.0% cap · market cap 0.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Restaurant includes a front ordering area and a commercial kitchen arranged for carryout operations.
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 $329,900.
What are key features of this property?
This property features: 486 square feet on 0.48 acres; Sale includes the Faustinos name and 17 years of goodwill; Commercial‑grade kitchen equipment, POS software, recipes, and inventory included
