Auto Shop with Vehicle Storage
2400 W Ridge Rd, Gary, IN 46408
For Sale
$440,000
M-1 Light Manufacturing zoning supports automotive, industrial, manufacturing, and service-related operations.
Property Size5,832 SF
Price / SF$75.45
Days on Market93
Property Features for 2400 W Ridge Rd
General Information
Standard status
Size
Zoning
Site & Location
Road Access
Outdoor Storage
Additional Details
Service Bays
Amenities
new roof
updated electrical panels
open work areas
office space
tool room
parts storage
industrial shelving
Building Details
Year Built
Buildings
Listing Agency:
Integrity Realty Partners
Listed By:
Angela Manning · License #RB17000786
(219) 628-3432
Source:
Amyboston.realtopiare
Added: Aug 7
Changed: Oct 25
Last Checked: Oct 7 at 3:56PM
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 Integrity Realty Partners
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,832-square-foot commercial building is configured for automotive work, with three vehicle lifts and broad open areas for shop operations. The property also includes office space, a tool room, parts storage, industrial shelving, and a yard suitable for vehicle storage, equipment, outdoor inventory, or additional parking. Recent improvements include a new roof with new sheeting and updated electrical panels.
Located at 2400 W Ridge Road in Gary, Indiana, the property fronts a heavily traveled commercial corridor with visibility to thousands of passing vehicles daily. M-1 Light Manufacturing zoning allows for a range of automotive, industrial, manufacturing, and service-related business applications.
Located at 2400 W Ridge Road in Gary, Indiana, the property fronts a heavily traveled commercial corridor with visibility to thousands of passing vehicles daily. M-1 Light Manufacturing zoning allows for a range of automotive, industrial, manufacturing, and service-related business applications.
Key Highlights
- 5,832‑square‑foot commercial building configured for automotive operations
- Three vehicle lifts with expansive open work areas
- New roof with new sheeting and updated electrical panels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,834
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,680
$676.7K
Cap Rate 7%
$483,343
$483.3K
Cap Rate 9%
$375,933
$375.9K
Market Conditions
NOI Build-Up for 5,832 SF
Gross rent
$51.1K $8.76/SF
− Vacancy
−$2.8K −$0.47/SF
EGI
$48.3K $8.29/SF
− OpEx
−$14.5K −$2.49/SF
NOI
$33.8K $5.80/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,680
Cap Rate 7%
$483,343
Cap Rate 9%
$375,933
Alternative Uses
Best Use
Retail
$802.9K
$702.5K – $936.7K
NOI $56,200 @ 7.0% cap · market cap 12.77%
Second Best
Industrial
$483.3K
$422.9K – $563.9K
NOI $33,834 @ 7.0% cap · market cap 7.69%
Theoretical Best
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,965 @ 7.0% cap · market cap 25.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46408, IN
15,109
Population
7,861
Households
1.9
Avg Household Size
38
Median Age
12%
College-Educated
84%
High-School Grad
9.7 sq mi
ZIP Area
1,558
Density / Sq Mi
$47,063
Median Household Income
$35,163
Median Earnings
$1,016
Median Rent
$96,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Auto shops in Lake County, IN
Properties on Market for Auto shops in Lake County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Ron Mechanic — 4428 Arthur St, Gary, IN 46408
- FatBoy Auto Group LLC — 4451 Cleveland St, Gary, IN 46408
- ROADSIDE ASSISTANCE — 4427 McKinley St, Gary, IN 46408
- HOOD Custom WHEEL'S UP GUNS DOWN — United States of America Republic, Gary, IN 46408
- Trans Pro — Gary, IN 46408
Frequently Asked Questions
What type of property is this?
Auto shop - M-1 Light Manufacturing zoning supports automotive, industrial, manufacturing, and service-related operations.
Where is this auto shop located?
The property is located at 2400 W Ridge Rd Gary, IN.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 5,832‑square‑foot commercial building configured for automotive operations; Three vehicle lifts with expansive open work areas; New roof with new sheeting and updated electrical panels
