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    3600 Lake Park Ave Hobart, IN 46342

    For Sale
    $999,990

    24-Acre Airport, Mixed-Use Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    314
    This exceptional 24.12-acre mixed-use property in Hobart, Indiana, presents a unique investment opportunity. The centerpiece is a fully operational private airport featuring a 3,125-foot runway and multiple large hangars, totaling over 14,500 square feet of hangar space. One hangar boasts 88x60 dimensions, 14-foot ceilings, insulated walls and ceilings, a concrete floor, and a 50'W x 13'6"H electric hangar door. Additional hangar space includes a 50'W x 11'H bi-fold aviation door. Beyond aviation, the property offers significant income potential. Existing infrastructure includes numerous cold storage units for RVs, boats, and campers, along with 35 indoor and 10 outdoor U-Lock storage units. Expansive paved and landscaped areas provide further opportunities for outdoor storage. Office and conference room space is available, along with a 1,680 sq ft, three-bedroom, 2.5-bathroom manufactured home suitable for residential use or as headquarters. The property benefits from L-1 and B-2/3 zoning, allowing for diverse business ventures. Its strategic location near major interstate corridors (I-65, 80, 90, 94) and proximity to Gary/Chicago International Airport, Midway, and O'Hare provides excellent accessibility. The property is currently tax-exempt.

    Property Features for 3600 Lake Park Ave

    General Information

    Property type
    Mixed-use properties
    Lot Size
    1,050,667 SF

    Building Details

    Year Built
    1992
    Property Profile Location Intelligence

    Current Use by Public Records

    Flying Sky Ranch ... Self-Storage Facility AUTO GLASS FITTERS Auto Glass Shop Hobart Sky Ranch ... Airport

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.26249
    Latitude
    41.55294

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    FAQs

    What type of property is this?
    Mixed-use property - 24-Acre Airport, Mixed-Use Potential
    Where is this mixed-use property located?
    The property is located at 3600 Lake Park Ave Hobart, IN.
    What is the asking price?
    The asking price for this property is $999,990.
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    3600 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

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    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
    3600 Lake Park Ave Hobart, IN 46342
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