Building Details

Year Built 1984

Listing Agency: Brokerworks Group

Listed By: Danek Znika Show Phone

Source: Realtopiare

Added: Jul 21 Changed: Sep 15 Last Checked: Oct 7 at 12:55PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brokerworks Group

Investment Insights

Based on property information with market context.

Commercial land positioned along U.S. 30 at 2060 81st Ave in Merrillville, Indiana. The site is identified for development supporting a quick-service restaurant, retail concept, or another commercial use requiring a visible corridor setting.

The property address is 2060 81st Ave, Merrillville, IN 46410. Its placement on U.S. 30 provides a defined commercial corridor context for future planning and site evaluation.

Key Highlights

• Positioned along U.S. 30 in Merrillville
• Address: 2060 81st Ave, Merrillville, IN 46410
• Identified as suitable for a quick‑service restaurant concept

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,241

Cap Rate

4.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$444,820 $444.8K

Cap Rate 7%

$317,729 $317.7K

Cap Rate 9%

$247,122 $247.1K

Market Conditions

NOI Build-Up for 2,308 SF

Gross rent

$33.2K $14.40/SF

− Vacancy

−$1.5K −$0.63/SF

EGI

$31.8K $13.77/SF

− OpEx

−$9.5K −$4.13/SF

NOI

$22.2K $9.64/SF

Area

Lake County, IN

Vacancy

4.40%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$444,820

Cap Rate 7%

$317,729

Cap Rate 9%

$247,122

Alternative Uses

Best Use

Retail

$317.7K

$278.0K – $370.7K (±1% cap)

NOI $22,241 @ 7.0% cap · market cap 4.49%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$644.3K

$563.8K – $751.7K (±1% cap)

NOI $45,101 @ 7.0% cap · market cap 9.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick Real Estate Agency Dental Office Big Box & Wholesale Store Building Supply HVAC Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

533

Businesses Nearby

28k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 62% Dining 16% Shops & Services 14% Home Improvements & Furnishings 4%

Gordon Food Service Groceries

17,065 visits/mo 0.4 miles

SUBWAY Dining

4,425 visits/mo 0.5 miles

U-Haul Moving & Storage of Merrillville Shops & Services

1,879 visits/mo 0.4 miles

The Great Escape Home Improvements & Furnishings

1,173 visits/mo 0.1 miles

Avis Budget Car Rental Shops & Services

1,163 visits/mo 0.3 miles

Demographics for 46410, IN

39,471

Population

17,685

Households

2.2

Avg Household Size

39

Median Age

24%

College-Educated

93%

High-School Grad

30.1 sq mi

ZIP Area

1,311

Density / Sq Mi

$61,735

Median Household Income

$42,235

Median Earnings

$1,267

Median Rent

$192,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Commercial land - Site positioned along U.S. 30 at 2060 81st Ave for commercial development.

Where is this commercial land located?

The property is located at 2060 81st Ave Merrillville, IN.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: Positioned along U.S. 30 in Merrillville; Address: 2060 81st Ave, Merrillville, IN 46410; Identified as suitable for a quick‑service restaurant concept