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    114 Lake Park Ave Hobart, IN 46342

    For Sale
    $289,900

    1.56 Acres, 3-Bedroom Home, High Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    313
    This exceptional 1.56-acre mixed-use property at 114 N Lake Park Avenue in Hobart, Indiana, presents a remarkable investment opportunity. The property boasts a 3-bedroom, 1.75-bathroom home, ideally suited for conversion or expansion to meet diverse commercial needs. The existing structure includes a second kitchen, offering flexibility for various uses such as in-law quarters, student housing, or a separate commercial space. The R2 zoning allows for a range of commercial and residential applications, providing significant versatility for the future owner. Located conveniently close to the town center, this property benefits from excellent accessibility and visibility. The substantial lot size offers ample space for expansion, redevelopment, or the addition of further structures. The property's current configuration provides a solid foundation for a variety of commercial ventures, while the residential component offers immediate income potential or comfortable living space. This unique offering presents a rare chance to acquire a large, versatile property in a desirable location with significant upside potential. The property is priced at $289,900. Serious inquiries are encouraged.

    Property Features for 114 Lake Park Ave

    General Information

    Property type
    Mixed-use properties
    Lot Size
    67,954 SF

    Building Details

    Year Built
    1942
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.26004
    Latitude
    41.53828

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    FAQs

    What type of property is this?
    Mixed-use property - 1.56 Acres, 3-Bedroom Home, High Potential
    Where is this mixed-use property located?
    The property is located at 114 Lake Park Ave Hobart, IN.
    What is the asking price?
    The asking price for this property is $289,900.
    Request Owner's contact information
    114 Lake Park Ave Hobart, IN 46342
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    Hobart, IN 46342
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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
    114 Lake Park Ave Hobart, IN 46342
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