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

    6201 Opportunity Ln Merrillville, IN 46410

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Restaurant pad with paved parking and utilities in place.

    Lot size:
    1.00 Acre

    Property Features for 6201 Opportunity Ln

    General Information

    Lot size
    1.00 Acre

    We can help!

    Listing Contact
    Aaron Mcdermott
    Aaron Mcdermott
    Source: Moodyscre

    Listing Agency: Latitude Commercial Listing Agent: Aaron Mcdermott

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Improved Restaurant Pad Ready

    This commercial land is an already improved restaurant pad, making it a potentially quick turnaround to a completed building. It features a paved parking lot and utilities at the site. The pad is located in the same parking lot as the Econolodge on the northside of the lot, making it a perfect fit for a highway-related restaurant that caters to travelers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Days Inn & Suites ... Hotel & Motel

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.317181
    Latitude
    41.5042953

    Nearby Similar for Sale

    • New
      $350,000
      Pending

      Merrillville Office Suite For Sale

      3,000 SF office suite ideal for professional services.
      2624 W 81St Ave, Merrillville, IN 46410
      View Details
    • $1,420,000
      9,240 SF

      Updated Office Building Investment Opportunity

      Updated two-story office building in Merrillville's Commercial & Office District.
      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
    • Contact for pricing
      3,298 SF

      Restaurant with Drive-Thru Window

      Restaurant with drive-thru, high visibility, repurposing opportunity.
      1441 E 82Nd Ave, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Former Restaurant Space Available

      Restaurant space with drive-thru, high visibility, repurposing opportunity.
      1441 e 82Nd Ave, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Merrillville Office and Warehouse Property

      Large office and warehouse property in Merrillville, Indiana.
      8450 Broadway, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Class A Distribution Facility

      Modern distribution facility in a master-planned business park.
      6800 Mississippi St, Merrillville, IN 46342
      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
    • $699,000
      10,750 SF

      Merrillville Medical Office Building

      10,750 SF Medical Office, Vacant
      8683 Connecticut St, Merrillville, IN 46410
      View Details
    • Contact for pricing
      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
    • $2,399,000
      32,792 SF

      Merrillville Office Building

      32,792 SF Office, Value-Add Opportunity
      521 86Th Ave, 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

    FAQs

    What type of property is this?
    Commercial land - Restaurant pad with paved parking and utilities in place.
    Where is this commercial land located?
    The property is located at 6201 Opportunity Ln Merrillville, IN.
    What are key features of this property?
    This property features: - Already improved restaurant pad ready for development.; - Utilities are already at the site.; - Paved parking lot is already in place.
    (219) 864-0200 Call to check price and availability
    Request Owner's contact information
    6201 Opportunity Ln 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.
    6201 Opportunity Ln
    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
    6201 Opportunity Ln 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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Aaron Mcdermott
    Aaron Mcdermott
    Real Estate License ID: IL 471007837
    (219) 864-0200 (219) 545-2859 (209) 864-0200
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!