Conventional Restaurant with Carryout
For Sale
$319,900
399 Clark Street, Lowell, IN 46356
Commercial Sale, Lowell, IN
Property Size486 SF
Lot Size0.48 Acres
Price / SF$658.23
Days on Market182
Property Features for 399 Clark Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Rooms
Basement
Parking
12
Basement
Finished, Partially 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: Sep 11
Last Checked: Oct 13 at 4:06AM
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 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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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
