Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Land in Established Neighborhood Title is generated by Realmo AI

    123 S Lillian St, Griffith, IN 46319

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    LAND - Griffith, IN

    Lot size:
    0.20 Acres
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 5:06 pm

    Property Features for 123 S Lillian St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    451103201003000006
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    S.70FT. OF N.256FT. OF W.155FT. OF NW NE S.3 T.35 R.9 .201A. W.30FT. IN LILLIAN AVE.
    Tax Annual Amount
    172

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Samantha Taylor-Lechert

    Listing agent Samantha Taylor-Lechert

    Listing office Ginter Realty 1457 S Lake Park Ave, Hobart, IN

    Listing date May 29, 2026

    MLS# 839768 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.

    HighLights

    • Land in an established neighborhood, increasingly rare in Lake County
    • No HOA fees and low taxes
    • Clean slate for custom build or investment portfolio
    • Public water and sewer available
    • Minutes from Beiriger Elementary School
    • Walking distance to Panther Park

    Overview

    This 0.201-acre land parcel is located in an established neighborhood in Griffith, Indiana. The property presents a clean slate for a custom build or investment portfolio. Situated in Lake County, the land benefits from low taxes and no HOA fees. The location is within walking distance of Panther Park and minutes from Beiriger Elementary School. Downtown Griffith, with its restaurants and local shops, is a short drive away. This land offers an opportunity in an established neighborhood.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Griffith
    County
    Lake
    State
    Indiana
    Longitude
    -87.442049
    Latitude
    41.52226

    Nearby Similar for Sale

    • $999,970
      5,564 SF

      Turnkey Restaurant & Event Venue

      Fully renovated restaurant with event-ready patio on 1.6 acres.
      840 S Broad Street, Griffith, IN 46319
      View Details
    • $1,174,700
      5,564 SF

      Turnkey Restaurant & Event Venue

      Fully renovated restaurant with event-ready patio in prime location.
      840 S Broad Street, Griffith, IN 46319
      View Details
    • $39,000

      Griffith, IN 0.83-Acre Lot

      Ready-to-build 0.83-acre lot in unincorporated Lake County.
      132 James Road, Griffith, IN 46319
      View Details
    • $319,900

      Updated Duplex with Extra Lot

      Investor-ready duplex in Griffith, IN with immediate cash flow.
      132-136 S Elgin Street, Griffith, IN 46319
      View Details
    • $245,000

      Griffith, IN Vacant Land

      Undeveloped 6.715-acre lot, ideal for building or investment.
      1716 S Broad Street, Griffith, IN 46319
      View Details
    • Contact for pricing

      Griffith Retail Center on 45th

      Highly visible retail center with strong tenant mix.
      1815-1955 W Glen Park Ave, Griffith, IN 46319
      View Details
    • $68,800

      Residential Lot in Griffith, Indiana

      Spacious residential lot for sale, build your dream home!
      1001 E 40th Lot 4 Place, Griffith, IN 46319
      View Details
    • $319,900

      Investor-Ready Duplex with Extra Lot

      Updated duplex with immediate income and adjacent lot included.
      132-136 S Elgin Street, Griffith, IN 46319
      View Details
    • $270,000
      1,540 SF

      Updated Townhome with Den

      Open concept, 2 bed, 2 bath townhome near Chicago.
      1017 N Woodlawn Avenue, Griffith, IN 46319
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land available in established Griffith neighborhood, ideal for builders.
    Where is this residential land & home lot located?
    The property is located at 123 S Lillian St Griffith, IN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Land in an established neighborhood, increasingly rare in Lake County; No HOA fees and low taxes; Clean slate for custom build or investment portfolio
    (219) 973-1856
    We can help!
    Listing Contact
    Samantha Taylor-Lechert
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    123 S Lillian St, Griffith, IN 46319
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!