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    5007 W 5Th Ave Gary, IN 46406

    For Sale
    $125,000

    Mixed Use - Gary, IN

    Type:Mixed Use
    Property size:
    5,000 SF
    Lot size:
    0.08 Acres
    Days on Market:
    104
    Last Refresh:
    Dec 6 at 4:06 am

    Property Features for 5007 W 5Th Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Rooms
    Basement
    APN
    450701407007000004
    Exterior features
    Corner Lot
    Basement Y/N
    1
    Size
    5,000 SF
    Lot size
    0.08 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1956
    Architectural style
    Other

    Heritage Real Estate Services INC (219) 613-3968 [email protected]

    Listing agent Binika Henderson (219) 613-3968 License #RB14040519

    Listing date Aug 25, 2025

    MLS# 821621 Listing URL

    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.

    Overview

    Mixed-Use Building in Gary, Indiana

    This mixed-use property in Gary, Indiana, presents an opportunity for entrepreneurs. The building, sold as is, includes a comprehensive security system. The 5,000 square foot property is situated on a 0.076-acre lot. The fully-furnished basement features a bathroom, break room, and studio space. Studio equipment is included in the full asking price. The property is located in Lake County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conklave Entertainment Recording Studio Studio brunswick Hair Salon

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Accounting Firm Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Gary
    County
    Lake
    State
    Indiana
    Longitude
    -87.39902
    Latitude
    41.601585

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property featuring a furnished basement with studio space.
    Where is this mixed-use property located?
    The property is located at 5007 W 5Th Ave Gary, IN.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: - Fully-furnished basement featuring a bathroom, break room, and studio space.; - Comprehensive security system in place.; - Studio equipment included with the full asking price.
    (219) 613-3968
    Request Owner's contact information
    5007 W 5Th Ave Gary, IN 46406
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    Gary, IN 46406
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    Realmo Value Estimation

    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.

    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.

    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
    5007 W 5Th Ave Gary, IN 46406
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