Sign Up Successful!
You now have access to more from Realmo!
    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

    3800 Gill St Hobart, IN 46342

    Sponsored
    For Sale
    $99,900

    LAND - Hobart, IN

    Lot size:
    1.52 Acres
    Days on Market:
    101
    Last Refresh:
    Feb 1 at 10:06 am

    Property Features for 3800 Gill St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    450825206012000018
    Lot size
    1.52 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Susie Etter

    Advanced Real Estate LLC (219) 746-2693

    Listing agent Susie Etter (219) 629-3300

    Listing date Oct 24, 2025

    MLS# 829774

    Copyright © 2025 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

    Hobart Land Package For Sale

    This offering comprises a land package totaling 1.52 acres, including Lot 2, which is developed and features available utilities, with a frontage of 75 feet and a size of 0.22 acres. The package also includes lots 16-24 (0.65 acres) and lots 25-33 (0.65 acres). Lot 2, situated on the east side, benefits from road access and available utilities. The remaining lots are located to the south of Lot 2 and across the street south of a house on the west side. While there is currently no street developed for these lots, the land is already subdivided, and the seller possesses the survey.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.287179
    Latitude
    41.549009

    Nearby Similar for Sale

    • $1,299,900
      Pending

      Hobart Commercial Property For Sale

      2.3 acres with two buildings suitable for various uses.
      939 S Wisconsin St, Hobart, IN 46342
      View Details
    • $299,000
      Pending

      Downtown Hobart Commercial Property For Sale

      Newly-remodeled 9,400+ SQFT commercial property in Hobart, Indiana.
      301 Center St, Hobart, IN 46342
      View Details
    • New
      $209,900
      0.36 Acres

      Hobart Duplex For Sale

      Two-unit duplex with updated features, ideal for investors.
      1231 W 3Rd St, Hobart, IN 46342
      View Details
    • $344,800

      Updated Two-Unit Apartment Building

      Turnkey investment opportunity with two updated units and separate utilities.
      2302 W 37Th Ave, Hobart, IN 46342
      View Details
    • $475,000
      2,648 SF

      Retail Property in Hobart, Indiana

      Retail property with 46,609 sqft space in Hobart, Indiana.
      11 N Hobart Rd, Hobart, IN 46342
      View Details
    • $999,990
      24.12 Acres

      Hobart Airport & Business Park

      24-Acre Airport, Mixed-Use Potential
      3600 Lake Park Ave, Hobart, IN 46342
      View Details
    • $289,900
      1.56 Acres

      Hobart Mixed-Use Commercial Property

      1.56 Acres, 3-Bedroom Home, High Potential
      114 Lake Park Ave, Hobart, IN 46342
      View Details
    • $399,900
      0.13 Acres

      Downtown Hobart Retail Gem

      Large retail space, prime location, updated.
      530 3Rd St, Hobart, IN 46342
      View Details
    • $249,900
      0.44 Acres

      Hobart Office Building - Huge Potential

      Affordable Office Building, 3000+ sq ft, 0.44 acre lot
      7553 Ridge Rd, Hobart, IN 46342
      View Details
    • $425,000
      7,110 SF

      Hobart Office Building For Sale

      Prime Hobart Office, High Visibility
      904 Old Ridge Rd, Hobart, IN 46342
      View Details
    • $599,900
      4,753 SF

      Hobart Restaurant & Bar for Sale

      Prime Hobart location, high traffic, liquor license.
      3700 Montgomery St, Hobart, IN 46342
      View Details

    FAQs

    What type of property is this?
    Land - 1.52 acres of land package in Hobart, Indiana.
    Where is this land located?
    The property is located at 3800 Gill St Hobart, IN.
    What is the asking price?
    The asking price for this property is $99,900.
    What are key features of this property?
    This property features: - 1.52 Acres total land for sale.; - Lot 2 is developed with road access and utilities available.; - Includes multiple lots: Lot 2 (.22 acres), Lots 16-24 (.65 acres), and Lots 25-33 (.65 acres).
    (219) 629-3300
    Request Owner's contact information
    3800 Gill St Hobart, IN 46342
    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.
    3800 Gill St
    Hobart, IN 46342
    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
    3800 Gill St Hobart, IN 46342
    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
    Susie Etter
    Real Estate License ID: RB14048146
    (219) 629-3300
    Learn more
    Google sign-in failed. Please try again or use another login method.