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    29 Us-41 Schererville In 46375 Schererville, IN 46375
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    29 Us-41 Schererville In 46375 Schererville, IN 46375

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    • Retail properties & Spaces
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    Cap Rate Potential
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    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 29 Us-41 Schererville In 46375

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional 1,190 square foot retail space presents a unique investment opportunity in a thriving Northwest Indiana location. Situated on a highly visible corner lot, this single-tenant property benefits from its strategic placement within the Main Street Center, a bustling retail hub. The center enjoys exceptional visibility and high foot traffic due to its proximity to a major shopping destination anchored by nationally recognized brands including Whole Foods Market, Dick's Sporting Goods, DSW, and HomeGoods. Across the street lies one of Chicagoland's premier Target stores, further enhancing the property's accessibility and exposure to a large consumer base. The property's classification as a "small shop" within the retail sector suggests its suitability for a variety of businesses, from boutiques and specialty stores to service-oriented enterprises. The single-tenant occupancy provides a straightforward and manageable investment, minimizing complexities associated with multi-tenant properties. This location in Lake County offers excellent access to a dense population and strong consumer spending power, making it an ideal location for a business seeking high visibility and a robust customer base. The property's size is well-suited for a range of retail concepts, offering ample space for inventory, display, and customer interaction. This is a rare opportunity to acquire a prime retail space in a high-traffic, high-demand area. The combination of location, visibility, and size makes this property an attractive investment for discerning buyers seeking a strong return on investment.

    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
    -87.471
    Latitude
    41.5224

    Comparable in this City

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      7,500 SF

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      15,120 SF

      22 Us-41

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    • Value Estimation
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      813 Us Hwy 30

      RETAIL STORES (PERSONAL SERVICES) • 7,858 SF
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    • Value Estimation
      $4,455,000
      163,650 SF

      1030 Us Hwy 41

      RETAIL STORES (PERSONAL SERVICES) • 163,650 SF
      1030 Us Hwy 41, Schererville, IN 46375-1304
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    • Value Estimation by Request
      12,640 SF

      2041 Us Hwy 41

      RETAIL STORES (PERSONAL SERVICES) • 12,640 SF
      2041 Us Hwy 41, Schererville, IN 46375-2801
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    • Value Estimation by Request
      3,236 SF

      1695 Us Hwy 41

      RETAIL STORES (PERSONAL SERVICES) • 3,236 SF
      1695 Us Hwy 41, Schererville, IN 46375-1319
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Retail Space on US 41

      42,010 SF retail opportunity in Schererville, Indiana.
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      Retail Space in Town Square

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      Retail Space on Main Road

      New retail development at a high-traffic intersection in Schererville.
      155 Us Highway 41, 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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