3115 Central AveLake Station, IN 46405

Property Details for 3115 Central Ave

Year built

1956

Lot size

0.17 AC

Property type

Banks

APN

45-09-17-277-002.000-021

APU

450917277002000021

Description

This exceptional retail property, located at 3115 Central Avenue in Lake Station, Indiana, presents a unique investment opportunity. The building, classified as a bank, boasts a substantial 3,383 square feet of space situated on a generous 0.87-acre lot. Its convenient location in Lake County, zip code 46405, offers excellent visibility and accessibility. The property's PIN number is 45-09-17-277-004.000-021. The asking price is $275,000. The 2023 property taxes, payable in 2024, amounted to $7,619.32. This presents a strong potential for return on investment. The property's size and location make it suitable for a variety of commercial uses, particularly given its previous use as a bank. The building's layout and features would need to be assessed by a potential buyer to determine its suitability for their specific needs. This property is being offered as-is. Serious inquiries are encouraged to explore this promising commercial real estate venture. Further details regarding the property's condition and potential uses are available upon request. The geographic coordinates are 41.573533 latitude and -87.2455091 longitude.

• CAP approach

  CAP return

  Valuation

  6%

  $3,498,241

  6.5%

  $3,229,146

  7%

  $2,998,492

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,430,543

  Geo Method

  $2,430,543

• Alternative Use

  Use

  Valuation

  Residential

  $2,723,905

  Hospitality

  $2,495,082

  Educational

  $2,075,879

  Medical

  $2,147,272

  Retail

  $3,229,146

Location Insight

City

Lake Station

County

Lake

State

Indiana

Latitude

41.5734

Longitude

-87.246

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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