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    1515 Us-41 Schererville, IN 46375
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    1515 Us-41 Schererville, IN 46375

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    • Neighborhood centers
    • 87,823 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 1515 Us-41

    Year built
    1991
    Property size
    87,823 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional retail opportunity presents 1,215 square feet of vacant space within a thriving 87,823 square foot strip center located at 1515 US-41 in Schererville, Indiana. Built in 1991, this multi-tenant property boasts a highly desirable location, offering unparalleled access to a substantial customer base. The space is situated within the popular Strack & Van Til shopping center, ensuring high visibility and foot traffic. Benefit from the synergistic effect of co-tenancy with national brands such as Walmart, Maurices, Papa Johns, Dunkin', and Arby's, attracting thousands of shoppers daily. This prime location offers easy access from US 30 and US 41, providing excellent accessibility for customers and employees alike. The property is situated in Lake County, Indiana, zip code 46375, and offers a unique chance to establish or expand your business in a bustling retail environment. The property's strategic placement and strong tenant mix create an ideal environment for a variety of retail businesses. Don't miss this chance to secure a space in a high-traffic, well-established retail center. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Schererville
    County
    Lake
    State
    Indiana
    Longitude
    -87.469
    Latitude
    41.4945

    Comparable in this City

    • Value Estimation by Request
      93,794 SF

      1516-1530 Us 41

      Neighborhood centers • 93,794 SF
      1516-1530 Us 41, Schererville, IN 46375
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    • Value Estimation
      $760,000
      28,618 SF

      2129 Us Hwy 41

      SHOPPING CENTER, STRIP CENTER • 28,618 SF
      2129 Us Hwy 41, Schererville, IN 46375
      View Details
    • Value Estimation by Request
      14,365 SF

      635-665 Us 30

      SHOPPING CENTER, STRIP CENTER • 14,365 SF
      635-665 Us 30, Schererville, IN 46375
      View Details
    • Value Estimation
      $510,000
      25,376 SF

      344 Us Hwy 30

      SHOPPING CENTER, STRIP CENTER • 25,376 SF
      344 Us Hwy 30, Schererville, IN 46375-2654
      View Details
    • Value Estimation
      $510,000
      25,376 SF

      342 Us Hwy 30

      SHOPPING CENTER, STRIP CENTER • 25,376 SF
      342 Us Hwy 30, Schererville, IN 46375-2654
      View Details
    • Value Estimation by Request
      14,760 SF

      326 Us Hwy 30

      SHOPPING CENTER, STRIP CENTER • 14,760 SF
      326 Us Hwy 30, Schererville, IN 46375-2654
      View Details

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      Schererville Retail Build-to-Suit Opportunity

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      Retail Space with High Visibility

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    Similar Nearby for Lease

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      1,979 SF

      New Retail Center in Schererville

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    • $18 SF/Yr
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      Retail Space in Schererville, IN

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      142 W Lincoln Hwy, Schererville, IN 46375
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      Retail Space on High-Traffic Road

      New retail development on Schererville's main road.
      121 Us Highway 41, Schererville, IN 46375
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      Retail Space in Regional Corridor

      Retail space in a high-traffic, affluent area.
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      Turnkey Professional Office Suite

      Modern, well-maintained office suite ideal for various professional uses.
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      View Details
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    Schererville, IN 46375
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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