Westville Commercial Corner
For Sale
Contact for pricing
52 W Main Street, Westville, IN 46391
High-visibility commercial property in Westville, Indiana, suitable for various uses.
Property Size1,095 SF
Lot Size0.20 Acres
Price / SF$205.48
Days on Market186
Property Features for 52 W Main Street
General Information
Standard status
Active
Size
1,095 SF
Lot size
0.20 Acres
Property subtype
Industrial, Retail
Building Details
Year Built
1940
Listing Agency:
RE/MAX Lifestyles
(219) 241-8401
Listed By:
Nick Blanusha · License #RB25000564
Source:
Crexi
Added: Feb 7
Changed: Aug 10
Last Checked: Aug 11 at 4:52PM
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 RE/MAX Lifestyles
Investment Insights
Based on property information with market context.
Located at the intersection of Main Street and US Highway 421 in Westville, Indiana, this commercial property offers high visibility and access. The solid brick building spans 1,095 square feet on an approximately 0.2-acre lot. The layout is versatile and suitable for a variety of business needs. The structure retains two overhead doors, making it a potential turnkey opportunity for a restaurant or for an industrial-chic retail or office conversion. The property is zoned CBD-1.
Key Highlights
- High‑traffic commercial corner location at the intersection of Main Street and US Highway 421.
- Unbeatable visibility and access.
- Versatile 1,095 sq ft layout suitable for various business needs.
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
$10,312
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
4.58%
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%
$206,240
$206.2K
Cap Rate 7%
$147,314
$147.3K
Cap Rate 9%
$114,578
$114.6K
Market Conditions
NOI Build-Up for 1,095 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
$15.3K $14.00/SF
− Vacancy
−$598 −$0.55/SF
EGI
$14.7K $13.45/SF
− OpEx
−$4.4K −$4.04/SF
NOI
$10.3K $9.42/SF
Area
LaPorte County, IN
Vacancy
3.90%
Lease Rate
$14.00 /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%
$206,240
Cap Rate 7%
$147,314
Cap Rate 9%
$114,578
Alternative Uses
Best Use
Retail
$147.3K
$128.9K – $171.9K
NOI $10,312 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$304.4K
$266.4K – $355.2K
NOI $21,309 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 6%
Casey's General Store
Shops & Services
16,161 visits/mo
0.4 miles
Mobil
Shops & Services
4,219 visits/mo
0.5 miles
SUBWAY
Dining
1,377 visits/mo
0.2 miles
Demographics for 46391, IN
9,077
Population
2,174
Households
4.2
Avg Household Size
38
Median Age
14%
College-Educated
83%
High-School Grad
39.7 sq mi
ZIP Area
229
Density / Sq Mi
$86,955
Median Household Income
$48,004
Median Earnings
$1,197
Median Rent
$254,600
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?
Retail space - High-visibility commercial property in Westville, Indiana, suitable for various uses.
Where is this retail space located?
The property is located at 52 W Main Street Westville, IN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: High‑traffic commercial corner location at the intersection of Main Street and US Highway 421.; Unbeatable visibility and access.; Versatile 1,095 sq ft layout suitable for various business needs.
