700 81St AveMerrillville, IN 46410

Property Details for 700 81St Ave

Year built

1988

Construction

WOOD

Lot size

0.64 AC

Property size (Sq ft)

960 SF

Property type

Grocery and convenience stores

APN

45-12-22-153-009.000-030

APU

451222153009000030

Description

This exceptional 0.64-acre commercial land parcel presents a unique investment opportunity in the thriving Merrillville, Indiana market. Located at 700 East 81st Avenue, this property boasts unparalleled accessibility, situated near the intersection of major interstates I-65, I-80, and I-94, ensuring convenient access for businesses and customers alike. The strategic location is further enhanced by its proximity to a significant concentration of existing commercial development. Neighboring properties include over two million square feet of retail space, providing a robust and established commercial environment. In addition, over one million square feet of office and hotel space are located nearby, creating a high-traffic area with substantial consumer and employee populations. This prime location offers significant potential for a wide range of commercial developments, making it an ideal investment for developers seeking a high-visibility site with excellent connectivity and established commercial infrastructure. The property is zoned for commercial use (verification of zoning with local authorities is recommended). The asking price for this exceptional parcel is $1,290,000. This represents a compelling opportunity to acquire a strategically located commercial land parcel in a rapidly growing area. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $453,519

  6.5%

  $418,633

  7%

  $388,731

• Comparable approach

  Method

  Valuation

  Relative Method

  $315,101

  Geo Method

  $315,101

• Alternative Use

  Use

  Valuation

  Residential

  $353,133

  Hospitality

  $323,468

  Educational

  $269,121

  Medical

  $278,377

  Retail

  $418,633

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.4716

Longitude

-87.3322

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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