6340 Melton RdPortage, IN 46368

Property Details for 6340 Melton Rd

Year built

1948

Construction

WOOD

Lot size

3.93 AC

Property size (Sq ft)

3,208 SF

Property type

Retail space

APN

64-05-01-403-007.000-016

APU

640501403007000016

Description

This exceptional 3.93-acre parcel at 6340 Melton Road in Portage, Indiana presents a remarkable opportunity for commercial development. The property boasts a prime location in a rapidly growing area, offering unparalleled visibility and accessibility. Previously occupied by a building that has since been demolished and cleared, the land is ready for immediate development. Its Highway Commercial zoning and inclusion in a Tax Increment Financing (TIF) district provide significant advantages for potential investors. The strategic location, surrounded by established businesses such as several hotel brands, Bass Pro Shops, Dunkin' Donuts, and a Luke gas station, ensures high traffic volume and excellent exposure. Convenient access to major highways and roadways guarantees maximum visibility for any commercial venture. This expansive site allows for the development of multiple businesses on a single parcel, providing endless possibilities for entrepreneurs and investors seeking a high-impact location. The cleared land eliminates the need for demolition and site preparation, allowing for a faster and more cost-effective development process. This is an exceptional opportunity to establish a thriving commercial presence in a thriving market. The combination of prime location, favorable zoning, and cleared land makes this property an ideal investment for those seeking significant return on investment in a rapidly expanding area. Don't miss this chance to capitalize on the potential of this exceptional commercial land.

• CAP approach

  CAP return

  Valuation

  6%

  $1,515,511

  6.5%

  $1,398,933

  7%

  $1,299,009

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,052,962

  Geo Method

  $1,052,962

• Alternative Use

  Use

  Valuation

  Residential

  $1,180,052

  Hospitality

  $1,080,922

  Educational

  $899,314

  Medical

  $930,243

  Retail

  $1,398,933

Location Insight

City

Portage

County

Porter

State

Indiana

Latitude

41.5993

Longitude

-87.1703

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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