870 Richard RdDyer, IN 46311

Property Details for 870 Richard Rd

Year built

1986

Construction

WOOD

Lot size

0.32 AC

Property size (Sq ft)

4,000 SF

Property type

Office properties

APN

45-11-18-104-002.000-034

APU

451118104002000034

Description

This exceptional 4,000 square foot retail property, situated on a 0.32-acre lot at 870 Richard Road in Dyer, Indiana, presents a remarkable investment opportunity. Its prime location near the high-traffic intersection of Calumet Avenue and Route 30 (Lincoln Highway) ensures maximum visibility and accessibility. The all-brick, truss construction building is exceptionally durable and well-maintained. Previously operating as a successful daycare center, this versatile space is easily adaptable to a variety of commercial uses. The flexible layout allows for division into two or four separate units, catering to diverse business needs. The building features two separate vestibules, each with two access entries, providing ample space and convenient access for customers and employees. Two HVAC units and two electric services ensure efficient climate control and power distribution. Internal amenities include five bathrooms and one kitchen, adding to the functionality of the space. External access is provided by two front doors and four rear doors, enhancing convenience and flexibility. A fenced rear area offers additional security and potential for outdoor use. This property's strategic location, combined with its adaptable design and numerous features, makes it an ideal investment for discerning buyers seeking a high-traffic, high-visibility retail space in a thriving community. The asking price is $650,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,285,486

  6.5%

  $1,186,602

  7%

  $1,101,845

• Comparable approach

  Method

  Valuation

  Relative Method

  $521,000

  Geo Method

  $521,000

• Alternative Use

  Use

  Valuation

  Residential

  $1,471,387

  Hospitality

  $1,347,783

  Educational

  $1,121,339

  Medical

  $1,159,904

  Retail

  $1,744,306

Location Insight

City

Dyer

County

Lake

State

Indiana

Latitude

41.4911

Longitude

-87.5074

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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