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    1516-1530 Us 41 Schererville, IN 46375
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    1516-1530 Us 41 Schererville, IN 46375

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    • Neighborhood centers
    • 93,794 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 1516-1530 Us 41

    Property size
    93,794 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional retail and office opportunity is located at 1516-1530 US 41 in Schererville, Indiana, within the thriving Chicago MSA. Fountain Park Shopping Center boasts 93,794 square feet on a 6.38-acre lot, zoned C-3. Currently, 42,000 square feet of space is available for lease, divisible down to approximately 5,000 square feet, with a maximum contiguous space of 42,000 square feet. The property enjoys a prime location directly on US 41, offering maximum visibility and exposure in a high-traffic area just north of US 30. This strong retail center features a diverse tenant mix including Twin Peaks, Midwest Express Clinic, Ciao Bella, American Renal, and Rise N Roll, ensuring a vibrant and established customer base. The available space is suitable for a variety of uses, including retail, office, or medical, presenting a unique chance to establish a presence in one of Northwest Indiana's premier retail trade areas. Lake County's strategic location and proximity to Chicago make this an attractive investment for businesses seeking high visibility and access to a large consumer market. The property offers significant potential for growth and success within a well-established and successful shopping center.

    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
    -87.473
    Latitude
    41.4941

    Comparable in this City

    • Value Estimation by Request
      87,823 SF

      1515 Us-41

      Neighborhood centers • 87,823 SF
      1515 Us-41, Schererville, IN 46375
      View Details
    • 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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      Retail Space on High-Traffic Road

      New retail development on Schererville's main road.
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      1,979 SF

      New Retail Center in Schererville

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      Retail Space in Schererville, IN

      Retail units available in strong Northwest Indiana market.
      142 W Lincoln Hwy, Schererville, IN 46375
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      Retail Space in Regional Corridor

      Retail space in a high-traffic, affluent area.
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      Retail Space in Town Square

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      Turnkey Professional Office Suite

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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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