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    Property profile & analytics

    427 Commercial Ave Lowell, IN 46356

    • Commercial real estate
    • 4,016 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3224027
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 427 Commercial Ave

    Property size
    4,016 SF
    Property type
    Commercial real estate

    Description

    This remarkable 4,016 square foot property, located at 427 E Commercial Ave in Lowell, Indiana, presents a unique investment opportunity. Built circa 1865, this two-story building, with an unfinished basement, is listed on the National Register of Historic Places and boasts a captivating blend of Italianate and Victorian architectural styles. The property sits on a 10,752 square foot lot and features soaring ceilings, exquisite woodwork, and enchanting period details throughout. The main level includes a commercial-grade kitchen with a center stainless steel island, one bathroom, and three fireplaces. The upper level offers an additional bathroom and a separate shower room. Previously used as a mixed-use restaurant and living quarters, this versatile space is ideal for a variety of commercial ventures, including a restaurant, professional offices, or an elegant event venue. The expansive grounds, including fenced front and rear yards, provide ample space for outdoor activities. Conveniently located in downtown Lowell, the property offers views of Founders Park and benefits from city water and sewer, as well as Nipsco gas and electric services. On-site parking is available, supplemented by ample public parking nearby. The property is being sold "As-Is," and all permits must be obtained through the Town of Lowell and the Lowell Historic Preservation Commission. Asking price is $475,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Lake
    State
    Indiana
    Longitude
    -87.4193961
    Latitude
    41.2916638

    Comparable in this City

    • $255,000
      3.29 Acres

      Route 41 Commercial Opportunity

      3+ acre parcel with commercial building and single-family home.
      20508 Wicker Blvd, Lowell, IN 46356
      View Details
    • $255,000
      2,130 SF

      Route 41 Commercial Opportunity

      3+ acre parcel with commercial building and single-family home.
      20508 Wicker Blvd, Lowell, IN 46356
      View Details
    • $4,920,000
      Pending

      193 Acres in Lowell, Indiana

      Large acreage ideal for residential development in Lowell, Indiana.
      5920 Belshaw Rd, Lowell, IN 46356
      View Details
    • $136,900
      0.77 Acres

      Wooded Homesite in Gated Community

      Rare privacy, natural beauty, and modern convenience in Lowell, Indiana.
      4136 166 Ln, Lowell, IN 46356
      View Details
    • New
      $110,000
      11.00 Acres

      Unincorporated Land in Lake County

      Approximately 11 acres of land for sale in Lowell, Indiana.
      7003 W 173Rd Pl, Lowell, IN 46356
      View Details
    • $219,000
      1.82 Acres

      Heavily Wooded Homesite in Lowell

      1.82 acre wooded lot in Graythorne Subdivision.
      4310-lot 166 Ln, Lowell, IN 46356
      View Details

    Similar Nearby for Sale

    • $255,000
      3.29 Acres

      Route 41 Commercial Opportunity

      3+ acre parcel with commercial building and single-family home.
      20508 Wicker Blvd, Lowell, IN 46356
      View Details
    • $255,000
      2,130 SF

      Route 41 Commercial Opportunity

      3+ acre parcel with commercial building and single-family home.
      20508 Wicker Blvd, Lowell, IN 46356
      View Details
    • $4,920,000
      Pending

      193 Acres in Lowell, Indiana

      Large acreage ideal for residential development in Lowell, Indiana.
      5920 Belshaw Rd, Lowell, IN 46356
      View Details
    • $136,900
      0.77 Acres

      Wooded Homesite in Gated Community

      Rare privacy, natural beauty, and modern convenience in Lowell, Indiana.
      4136 166 Ln, Lowell, IN 46356
      View Details
    • New
      $110,000
      11.00 Acres

      Unincorporated Land in Lake County

      Approximately 11 acres of land for sale in Lowell, Indiana.
      7003 W 173Rd Pl, Lowell, IN 46356
      View Details
    • $219,000
      1.82 Acres

      Heavily Wooded Homesite in Lowell

      1.82 acre wooded lot in Graythorne Subdivision.
      4310-lot 166 Ln, Lowell, IN 46356
      View Details

    Similar Nearby for Lease

    • $126 SF/Yr
      3,456 SF

      Downtown Lowell Retail Space

      Newly renovated, prime location, 3,456 sq ft.
      307 Commercial Ave, Lowell, IN 46356
      View Details
    • Contact for pricing

      Retail Space in Lowell Plaza

      Retail shopping center with excellent visibility on East Commercial Ave.
      E Commercial Ave, Lowell, IN 46356
      View Details
    • Contact for pricing
      5,732 SF

      Retail Space in Lowell Plaza

      Retail space available in a prime Lowell shopping center.
      2052 E Commercial Ave, Lowell, IN 46356
      View Details
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    427 Commercial Ave
    Lowell, IN 46356
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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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