5124 Pine Island Ct - Retail FOR SALE


Crown Point, IN 46307
$2,900,000 USD
219-746-3725
5124 Pine Island Ct, Crown Point, IN for Sale
$2,900,000 USD
Retail - FOR SALE
1/1
null | 6.76% Cap Rate

5124 Pine Island Ct
Crown Point, IN 46307


HIGHLIGHTS

  • Family Dollar-anchored; corporate lease to 2031 with a 9/1/26 rent step-up
  • Signalized hard corner on US-30 & Pine Island Dr - 43,000+ VPD (INDOT)
  • 100% leased, predominantly NNN - expense exposure limited to the anchor
  • 2.63-acre site, 70 parking spaces, monument sign with message board
  • Offered at $2,900,000 - 6.76% in-place / 7.03% Year-1 cap

OVERVIEW

Pine Island Plaza is a 100% leased, Family Dollar-anchored retail strip center on the signalized hard corner of US Route 30 and Pine Island Drive, on the Crown Point / Schererville border in Lake County, Indiana. The 2.63-acre site carries 43,000+ vehicles per day (INDOT) and sits midway between the I-65 and US-41 corridors, surrounded by national retail and dense multifamily housing. The center is anchored by Family Dollar under a corporate lease running through August 2031, with a contractual rent increase to $7,058.34/month effective 9/1/2026 that grows Year 1 income. The balance of the building is leased to a diversified mix of national and local tenants. Seven of the eight leases are NNN, with tenants reimbursing their pro-rata share of taxes, insurance, and CAM, limiting the owner's expense exposure to the gross-leased anchor space. Staggered expirations from 2027 through 2031 provide durable, laddered cash flow. The property offers 70 parking spaces, a monument sign with electronic message board, and excellent visibility at one of Northwest Indiana's busiest retail intersections. Offered at $2,900,000 - a 6.76% cap on in-place NOI and 7.03% on Year 1 NOI (reflecting the 9/1/2026 anchor step-up).

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$125 USD /SF

CAP RATE

6.76%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pine Island Plaza

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

CROSS STREETS

SEC Pine Island Dr. & Rte. 30

LAND ACRES

2.63 AC

LAND SF

114,563 SF

ZONING

C-3, Highway Commercial

APN/PARCEL ID

45-11-24-278-001.000-036

ASK ABOUT THIS PROPERTY

Carrie AustgenAustgen Real Estate, LLCMore Info
219-746-3725

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Carrie AustgenAustgen Real Estate, LLCMore Info
219-746-3725

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.