8000 Melton RdGary, IN 46403

Property Details for 8000 Melton Rd

Year built

1970

Construction

WOOD

Property size (Sq ft)

80,000 SF

Property type

Commercial real estate

APN

45-09-04-300-901.000-004

APU

450904300901000004

Description

This exceptional mixed-use property, located at 8000 E Melton Rd, Gary, IN 46403, presents a compelling investment opportunity. The 80,000 square foot building, constructed in 1970, sits on a substantial 5.76-acre lot (250,905 sq ft) and boasts flexible B5-1 zoning, making it suitable for a variety of uses. Currently housing a successful indoor discount mall (Second Chance Appliance & Discount Furniture), the property offers immediate income potential. The expansive lot provides ample space for expansion, while the high clear ceilings and 70 parking spaces, along with outdoor storage, cater to diverse operational needs. Its prime location offers convenient expressway access, enhancing its logistical advantages. The asking price is $1,500,000, representing a strong value proposition in Gary's developing market. This single-story building presents a unique chance to capitalize on its existing income stream and explore future development possibilities within a versatile zoning framework. The property's size, location, and zoning flexibility make it an ideal candidate for businesses requiring significant space, ample parking, and convenient access to major transportation routes. The existing tenant provides a stable income base, while the large lot size allows for future expansion or redevelopment. This is a rare opportunity to acquire a substantial property in a growing market at an attractive price point. The APN is 45-09-04-300-901.000-004.

• Alternative Use

  Use

  Valuation

  Residential

  $29,427,742

  Hospitality

  $26,955,652

  Educational

  $22,426,786

  Medical

  $23,198,078

  Retail

  $34,886,112

Location Insight

City

Gary

County

Lake

State

Indiana

Latitude

41.5958

Longitude

-87.2392

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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