Building Details

Year Built 1976

Listing Agency: Coldwell Banker Realty

Listed By: Marissa Stapleton Show Phone

Source: Realtopiare

Added: Sep 24 Changed: Sep 25 Last Checked: Sep 26 at 11:38AM

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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 Coldwell Banker Realty

Investment Insights

Based on property information with market context.

This 3,262-square-foot retail property sits on a 400' x 54' lot. Its layout includes open areas for retail or display, private offices, storage, and a loading dock. Updates include a newer roof, bathrooms, flooring, fresh paint, and exterior lighting.

At 92 W Us Hwy 12 in Beverly Shores, the property is steps from the South Shore Line and within walking distance of restaurants and shops. The building served as a family-owned art gallery and supply store for nearly 45 years; that business will close upon sale.

Key Highlights

• 3,262‑square‑foot retail property
• 400' x 54' lot
• Open retail and showroom areas, private offices, storage, and a loading dock

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

$45,937

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

8.75%

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%

$918,740 $918.7K

Cap Rate 7%

$656,243 $656.2K

Cap Rate 9%

$510,411 $510.4K

Market Conditions

NOI Build-Up for 3,262 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

$68.5K $21.00/SF

− Vacancy

−$2.9K −$0.88/SF

EGI

$65.6K $20.12/SF

− OpEx

−$19.7K −$6.04/SF

NOI

$45.9K $14.08/SF

Area

Porter County, IN

Vacancy

4.20%

Lease Rate

$21.00 /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%

$918,740

Cap Rate 7%

$656,243

Cap Rate 9%

$510,411

Alternative Uses

Best Use

Retail

$656.2K

$574.2K – $765.6K (±1% cap)

NOI $45,937 @ 7.0% cap · market cap 8.75%

Second Best

Flex RnD

$276.9K

$242.3K – $323.1K (±1% cap)

NOI $19,384 @ 7.0% cap · market cap 3.69%

Theoretical Best

Healthcare Medical

$1.24M

$1.08M – $1.44M (±1% cap)

NOI $86,543 @ 7.0% cap · market cap 16.48%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Parking Lot & Garage Furniture & Home Goods Catering Service Grocery & Convenience Store Food Market Wine and Liquor Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

70

Businesses Nearby

Explore this area Business Placement

Demographics for 46301, IN

580

Population

510

Households

1.1

Avg Household Size

63

Median Age

72%

College-Educated

99%

High-School Grad

4.4 sq mi

ZIP Area

132

Density / Sq Mi

$118,750

Median Household Income

$71,944

Median Earnings

$581,900

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail space - The interior includes open retail and showroom areas, private offices, storage, and a loading dock.

Where is this retail space located?

The property is located at 92 Us-12 Beverly Shores, IN.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: 3,262‑square‑foot retail property; 400' x 54' lot; Open retail and showroom areas, private offices, storage, and a loading dock