401 81St AveMerrillville, IN 46410

Property Details for 401 81St Ave

Year built

1985

Construction

WOOD

Lot size

2.71 AC

Property size (Sq ft)

32,287 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

45-12-21-402-003.000-030

APU

451221402003000030

Description

This exceptional retail opportunity is located in the highly desirable Ross Plaza, situated on US 30 in Merrillville, Indiana. The property boasts a prime location within a shadow-anchored power center, benefiting from its proximity to a major national tenant, Meijer. This ensures high traffic volume and excellent visibility for potential tenants. Two retail spaces are currently available, ranging in size from 1,600 to 2,535 square feet, providing flexibility for various business needs. The center enjoys a highly accessible location, with a signalized entrance directly from US 30, ensuring easy access for customers. Merrillville Road, a main thoroughfare, provides convenient access from nearby residential neighborhoods. This strategic location on a major roadway, combined with the presence of a significant anchor tenant, creates a compelling opportunity for businesses seeking high visibility and strong foot traffic. The property is situated in Lake County and offers a unique chance to establish a thriving retail presence in a bustling commercial area. The available spaces are ideal for a variety of retail concepts, capitalizing on the significant traffic flow generated by the adjacent Meijer and the overall high visibility of the location. Don't miss this chance to secure a space in this thriving retail center.

• CAP approach

  CAP return

  Valuation

  6%

  $15,252,899

  6.5%

  $14,079,599

  7%

  $13,073,913

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,597,562

  Geo Method

  $10,597,562

• Alternative Use

  Use

  Valuation

  Residential

  $11,876,668

  Hospitality

  $10,878,964

  Educational

  $9,051,171

  Medical

  $9,362,454

  Retail

  $14,079,599

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.47

Longitude

-87.3413

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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