3700 Montgomery StHobart, IN 46342

Property Details for 3700 Montgomery St

Year built

1956

Construction

WOOD

Lot size

0.66 AC

Property size (Sq ft)

4,753 SF

Property type

Retail space

APN

45-08-26-204-006.000-018

APU

450826204006000018

Description

This exceptional 4,753 square foot retail property, located at 3700 Montgomery Street in Hobart, Indiana, presents a unique investment opportunity. Currently configured as a former restaurant, this space boasts excellent street visibility and benefits from high traffic counts, ensuring significant potential for a variety of businesses. The property sits on a one-acre lot, providing ample parking for patrons and employees. A key advantage is the availability of a liquor license, a valuable asset for any establishment serving alcoholic beverages. The asking price is $599,900, translating to $126.22 per square foot. The property's address is verified as 3700 Montgomery St, Hobart, IN 46342, within Lake County. The property includes two APNs: 45-08-26-204-022.000-018 and 45-08-26-204-006.000-018. This turnkey opportunity is ideal for an experienced restaurateur or entrepreneur seeking a well-situated establishment with significant potential for growth and profitability. The spacious layout and prime location make this property a truly compelling investment. Don't miss this chance to own a thriving business in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,245,394

  6.5%

  $2,072,671

  7%

  $1,924,623

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,560,077

  Geo Method

  $1,560,077

• Alternative Use

  Use

  Valuation

  Residential

  $1,748,376

  Hospitality

  $1,601,503

  Educational

  $1,332,432

  Medical

  $1,378,256

  Retail

  $2,072,671

Location Insight

City

Hobart

County

Lake

State

Indiana

Latitude

41.5507

Longitude

-87.3029

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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