Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1301 W Ridge Rd Gary, IN 46408

    View on Map
    Sponsored
    Pending
    $148,000

    LAND - Gary, IN

    Lot size:
    1.12 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 26 at 2:06 am

    Property Features for 1301 W Ridge Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    APN
    450828110005000004
    Lot size
    1.12 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Olga Vega

    LEGACY REALTY GROUP LLC

    Listing agent Olga Vega

    Listing date Mar 18, 2026

    MLS# 833749 Listing URL

    Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Land on Ridge Road

    This is a large property situated on a 1.116-acre lot located on Ridge Road in Gary, Indiana. The property is located in Lake County, with easy access to the expressway. The existing structure is a tear-down, and the value is primarily in the land and its location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto Body Center Auto Repair Shop

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gary
    County
    Lake
    State
    Indiana
    Longitude
    -87.352804
    Latitude
    41.548307

    Nearby Similar for Sale

    • $345,000
      2,605 SF

      Professional Office Near Train Station

      Move-in ready office building near South Shore train station.
      5528 E Melton Rd, Gary, IN 46403
      View Details
    • $350,000
      Pending

      Merrillville Office Suite For Sale

      3,000 SF office suite ideal for professional services.
      2624 W 81St Ave, Merrillville, IN 46410
      View Details
    • $1,420,000
      9,240 SF

      Updated Office Building Investment Opportunity

      Updated two-story office building in Merrillville's Commercial & Office District.
      8420 Indiana St, Merrillville, IN 46410
      View Details
    • $450,000
      3,250 SF

      Turnkey Restaurant with Liquor License

      Fully equipped, remodeled restaurant with 3-way liquor license for sale.
      3634 Central Ave, Lake Station, IN 46405
      View Details
    • $200,000
      3,894 SF

      Turnkey Pub and Grub Business

      Turnkey pub and grub with licenses and apartment for sale.
      2808 Dekalb St, Lake Station, IN 46405
      View Details
    • $200,000
      4,560 SF

      Gary, IN Commercial Property

      Commercial property operating as mechanic shop, suitable for automotive/industrial uses.
      1134 Virginia St, Gary, IN 46407
      View Details
    • $285,000
      Pending

      Modern Office Building in Miller Beach

      State-of-the-art commercial building in distinctive lakefront community.
      563 S Lake St, Gary, IN 46403
      View Details
    • $145,900
      Pending

      Commercial Property in Miller District

      Commercial fixer-upper in Gary's Miller Business District.
      288 S Lake St, Gary, IN 46403
      View Details
    • $62,000
      800 SF

      Gary, IN Commercial Opportunity

      Commercial building on a busy street, great customer potential.
      2553 W 11Th Ave, Gary, IN 46404
      View Details
    • $49,000
      0.09 Acres

      Two-Unit Building: Investor Special

      Two 3-bedroom units, full rehab needed, strong rental demand.
      1072 Van Buren St, Gary, IN 46402
      View Details
    • $250,000
      Pending

      Renovated Duplex: Investment Opportunity

      Turnkey duplex with modern updates, ideal for investors.
      1379 Roosevelt Pl, Gary, IN 46404
      View Details
    • $560,000

      Commercial Garage Near I-80/94

      3.41 acre site with 5,262 SF building near I-80/94.
      2241 Hamlin St, Gary, IN 46406
      View Details

    FAQs

    What type of property is this?
    Commercial land - Over one-acre lot available on busy Ridge Road.
    Where is this commercial land located?
    The property is located at 1301 W Ridge Rd Gary, IN.
    What is the asking price?
    The asking price for this property is $148,000.
    What are key features of this property?
    This property features: - Over One-Acre Lot; - Prime Location on Ridge Road; - Minutes to Expressway
    (219) 588-9494
    Request Owner's contact information
    1301 W Ridge Rd Gary, IN 46408
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1301 W Ridge Rd
    Gary, IN 46408
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1301 W Ridge Rd Gary, IN 46408
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Olga Vega
    Real Estate License ID: RB14047917
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!