Flexible Warehouse and Flex
For Sale
$650,000
Pending
2535 Garfield Street, Gary, IN 46404
SINGLE_FAMILY - Gary, IN
Property Size9,360 SF
Lot Size1.13 Acres
Days on Market48
Property Features for 2535 Garfield Street
General Information
Property type
Residential
Property subtype
Retail
Parking
25
Security features
Security Lighting
Interior features
High Ceilings, Open Floorplan
Exterior features
Lighting, Private Yard
Appliances
Gas Water Heater
Subdivision
County Market Place Add
Lot features
Paved
Directions
From I-94, N on Richard Gordon Hatcher Blvd, W on 25th Ave, S on Garfield St to property
Standard status
Pending
APN
450817426002000004
Size
9,360 SF
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COUNTY MARKET PLAZA LOT 7
Tax Annual Amount
22460
Legal Description
COUNTY MARKET PLAZA LOT 7
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
2006
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(219) 738-2455
Listed By:
Andrew McCatty
(708) 217-5232
Added: Jun 18
Changed: Aug 3
Last Checked: Aug 4 at 3:06AM
MLS# 840933
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.
Investment Insights
Based on property information with market context.
Approximately 9,360 square feet of versatile commercial space with an open, adaptable layout designed to support a range of business uses, including office, retail, warehouse, and service-oriented operations.
The property is located in Gary, Indiana, and described as having convenient access to major thoroughfares and surrounding commercial corridors.
Set on about 1.13 acres, the building’s flexible interior configuration is intended to accommodate different operational needs while maintaining a straightforward, usable floorplan.
The property is located in Gary, Indiana, and described as having convenient access to major thoroughfares and surrounding commercial corridors.
Set on about 1.13 acres, the building’s flexible interior configuration is intended to accommodate different operational needs while maintaining a straightforward, usable floorplan.
Key Highlights
- Approximately 9,360 SF of versatile commercial space for office, retail, warehouse, or service‑oriented use
- Open floorplan with high ceilings for flexible interior layouts
- Heating includes natural gas forced air
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.0k | $8.76 |
| − Vacancy | −$4.4k | −$0.47 |
| EGI | $77.6k | $8.29 |
| − OpEx | −$23.3k | −$2.49 |
| NOI | $54.3k | $5.80 |
9,360 SF · lease $8.76/SF/yr · vacancy 5.39% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$942.0K
$824.2K – $1.10M
NOI $65,938 @ 7.0% cap · market cap 10.14%
Second Best
Industrial
$775.7K
$678.8K – $905.0K
NOI $54,302 @ 7.0% cap · market cap 8.35%
Theoretical Best
Specialty Retail
$2.61M
$2.29M – $3.05M
NOI $182,906 @ 7.0% cap · market cap 28.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46404, IN
15,658
Population
7,708
Households
2
Avg Household Size
39
Median Age
16%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
2,610
Density / Sq Mi
$39,188
Median Household Income
$34,337
Median Earnings
$995
Median Rent
$88,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jariah's Lunch Box — 1201 W 25th Ave, Gary, IN 46407
- Ruby's Fish & Chicken — 1201 W 25th Ave, Gary, IN 46407
Frequently Asked Questions
What type of property is this?
Flex space - Versatile 9,360 SF building with an open, adaptable layout for office, retail, warehouse, or service operations.
Where is this flex space located?
The property is located at 2535 Garfield Street Gary, IN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 9,360 SF of versatile commercial space for office, retail, warehouse, or service‑oriented use; Open floorplan with high ceilings for flexible interior layouts; Heating includes natural gas forced air
