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

    5455 Connecticut St Merrillville, IN 46410

    Sponsored
    For Sale
    Contact for pricing

    LAND - Merrillville, IN

    Lot size:
    0.22 Acres
    Days on Market:
    9
    Last Refresh:
    Feb 4 at 6:06 am

    Property Features for 5455 Connecticut St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    451203106005000030
    Lot size
    0.22 Acres

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Diana Smoot
    Diana Smoot

    McColly Real Estate (219) 864-7200

    Listing agent Diana Smoot (219) 765-0929

    Listing date Jan 27, 2026

    MLS# 469263 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

    Wooded Lot For Sale

    This is a wooded lot measuring 75x126, located in Merrillville, Indiana. The lot size is approximately 0.2169 acres. It is suitable for building a dream home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.333315
    Latitude
    41.519211

    Nearby Similar for Sale

    • $364,900
      Pending

      Merrillville Duplex: Income Potential

      Duplex in Merrillville with strong income and value-add potential.
      3608 W 73Rd Ct, Merrillville, IN 46410
      View Details
    • $600,000
      Pending

      Income-Producing 4-Unit Property

      Stabilized asset with reliable performance.
      7636 Whitcomb St, Merrillville, IN 46410
      View Details
    • $1,555,000
      9,240 SF

      Updated Office Building Investment Opportunity

      Updated Merrillville office building, tenant occupied, ideal for investors.
      8420 Indiana St, Merrillville, IN 46410
      View Details
    • $590,000
      5,581 SF

      High-Traffic U.S. 30 Frontage Flex

      Flex space on U.S. 30 with redevelopment potential.
      2215 W Lincoln Hwy, Merrillville, IN 46410
      View Details
    • $2,350,000
      17,220 SF

      Medical Office Buildings Near Hospital

      Two medical office buildings near Southlake Methodist Hospital for sale.
      8695 Connecticut St, Merrillville, IN 46410
      View Details
    • $1,995,000
      32,792 SF

      Merrillville Professional Office Building For Sale

      Single-story office building with executive and medical suites in Merrillville.
      521 E 86Th Ave, Merrillville, IN 46410
      View Details
    • $277,777

      Move-in Ready Home, Large Lot

      Well-maintained 3-bedroom home on a quarter-acre lot.
      4229 W 92Nd Pl, Merrillville, IN 46410
      View Details
    • Contact for pricing
      8,327 SF

      Single-Tenant Cracker Barrel Investment Opportunity

      NNN leased Cracker Barrel with 15 years remaining near Chicago.
      6200 Opportunity Ln, Merrillville, IN 46410
      View Details
    • $171,000

      Immaculate Condo in Brookstone

      Move-in ready 2-bed, 1.5 bath condo with great amenities.
      2035 W 75Th Pl, Merrillville, IN 46410
      View Details
    • Contact for pricing
      17,814 SF

      Freestanding Office Building in Merrillville

      Turnkey office building near I-65 and US 30.
      8401 Ohio St, Merrillville, IN 46402
      View Details
    • $1,899,000
      11,856 SF

      Merrillville Office Building For Sale

      Well-maintained office building with long-term tenant in prime location.
      8700 Broadway, Merrillville, IN 46410
      View Details
    • $599,000
      10,750 SF

      Medical Office Building For Sale

      Medical office building near Methodist Hospital with ample parking.
      8683 Connecticut St, Merrillville, IN 46410
      View Details

    FAQs

    What type of property is this?
    Land - Wooded lot available for building a dream home.
    Where is this land located?
    The property is located at 5455 Connecticut St Merrillville, IN.
    What is the asking price?
    The asking price for this property is $8,000.
    What are key features of this property?
    This property features: - Wooded lot provides privacy and natural beauty.; - Lot size is 75x126.; - Opportunity to build a custom dream home.
    (219) 765-0929
    Request Owner's contact information
    5455 Connecticut St Merrillville, IN 46410
    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.
    5455 Connecticut St
    Merrillville, IN 46410
    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
    5455 Connecticut St Merrillville, IN 46410
    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
    Diana Smoot
    Diana Smoot
    Real Estate License ID: RB14015673
    (219) 765-0929
    Learn more
    Google sign-in failed. Please try again or use another login method.