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

    444 Megan Way Munster, IN 46321

    View on Map
    Claim this Listing
    For Sale
    $159,900

    LAND - Munster, IN

    Lot size:
    0.32 Acres
    Added:
    Aug 11, 2025
    Days on Market:
    261
    Last Refresh:
    Apr 28 at 7:06 am

    Property Features for 444 Megan Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    450636453002000027
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    COMMUNITY RESOURCES, INC. LOT 67
    Tax Annual Amount
    2897

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Vasilios Vossos

    Listing agent Vasilios Vossos License #RB14027546

    Listing office BVG Realty, LLC 1832 Hart St, Dyer, IN

    Listing date Aug 11, 2025

    MLS# 825783 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.

    Overview

    Residential Land in Munster, Indiana

    Located within Community Estates, Lot 67 offers a park-like setting suitable for building a home. The property is conveniently located within walking distance of the train. Basic covenants include minimum square footage requirements: Ranch with basement - 2,000 square feet, 1.5 Story with basement - 1,700 square feet, Bi-level and tri-level - 1,800 square feet (minimum 1st floor), Four-level split - 1,650 square feet (minimum 1st floor), Two Story with basement - 2,400 square feet. No building shall exceed three stories in height. No aluminum or vinyl siding on the exterior walls. No sheds or above ground pools allowed. No fences greater than 4 ft tall. There are no HOA fees. The lot size is 0.318 acres and is located in Munster, Indiana.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Munster
    County
    Lake
    State
    Indiana
    Longitude
    -87.517086
    Latitude
    41.523128

    Nearby Similar for Sale

    • $3,700,000

      Premium Munster Office/Medical Space

      Turn-key office/medical space in Munster's business corridor near Indiana/Illinois border.
      9404 Margo Lane, Munster, IN 46321
      View Details
    • $425,000
      2,400 SF

      Turnkey Medical Office Condo

      2,400 SF medical office condo for sale in Munster.
      1646 45th Street, Munster, IN 46321
      View Details
    • Contact for pricing

      New Class A Office Space

      New construction office space near retail district and Illinois border.
      10419 Calumet Ave, Munster, IN 46321
      View Details
    • $850,000
      3,300 SF

      Calumet Avenue Commercial Condominium Unit

      First-floor condominium unit in a rapidly developing commercial corridor.
      9410 Calumet Ave, Suite 103A/B, Munster, IN 46321
      View Details
    • $640,000
      4,048 SF

      Munster Investment Property For Sale

      Rare investment opportunity near South Shore Train Station in Munster.
      303 Ridge Rd, Munster, IN
      View Details
    • $2,499,000

      Munster Apartment Building For Sale

      12-unit apartment building in desirable Munster location near hospitals.
      1650 45th St, Munster, IN, 46321
      View Details
    • Contact for pricing
      451,240 SF

      Superior Avenue Specialty Property Available

      Specialty property for sale with significant square footage.
      475 Superior Ave, Munster, IN 46321
      View Details
    • $700,000

      Commercial Land on Ridge Road

      Commercial land ideal for retail, restaurants, or office uses.
      Ridge Rd 710, Munster, IN
      View Details
    • Contact for pricing
      3,880 SF

      Freestanding Restaurant on Ridge Road

      3,880 SF restaurant on 0.37 acres with 77 parking spaces.
      745 Ridge Rd, Munster, IN
      View Details
    • $1,595,000
      2,735 SF

      Hospitality, Mixed Use, Office, Retail

      407 Ridge Rd, Munster, IN 46321
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot in a prime location near train.
    Where is this residential land & home lot located?
    The property is located at 444 Megan Way Munster, IN.
    What is the asking price?
    The asking price for this property is $159,900.
    What are key features of this property?
    This property features: Premier location within Community Estates.; Short walk to the train for easy commuting.; Park‑like setting for building a dream home.
    (219) 680-9037
    We can help!
    Listing Contact
    Vasilios Vossos
    Real Estate License ID: RB14027546
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!