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    1403 Lake Park Ave Hobart, IN 46342

    For Sale
    Contact for pricing

    Three prime retail outlots near St. Mary's Medical Center.

    Property size:
    76,307 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Invest in three exceptional retail outlots totaling 76,307 square feet, strategically located in Hobart, Indiana, at 1403 & 1501 S Lake Park Ave, zip code 46342. These three separate parcels, ranging from 0.41 to 0.57 acres each, boast ample parking and are situated directly across from St. Mary's Medical Center, employing over 2,000 individuals. The Pavilions retail plaza, where these outlots reside, benefits from high visibility due to multiple pylon signs and a daily traffic count approaching 15,000 vehicles on Lake Park Avenue (State Road 51). The property's location offers easy access to I-65, providing convenient access to Chicago. The existing retail center features a diverse tenant mix, including retail and office users, creating a vibrant and established commercial environment. The outlots are zoned PUD and were built in 2002. This presents a unique opportunity to acquire individual lots or the entire assemblage, ideal for various commercial ventures. The 16.11-acre site offers significant potential for development and growth within a thriving community. The property's prime location and high visibility make it an attractive investment opportunity for businesses seeking exposure to a substantial customer base. The lots are individually sellable or can be purchased as a package.

    Property Features for 1403 Lake Park Ave

    General Information

    Property type
    Land
    Square Feet
    76,307 SF
    Lot Size
    701,752 SF

    Building Details

    Year Built
    2002

    HighLights

    • Three separate outlots available near St. Mary's Medical Center.
    • Outlots range from 0.41 to 0.57 acres.
    • Ample parking available for each outlot.
    • High visibility location in The Pavilions shopping center with diverse tenants.
    • Individual or portfolio sale options available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Subway Sandwich Shop Litehouse Whole Food ... Restaurant Dos Amigos Mexican ... Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.2583643
    Latitude
    41.5140658

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    FAQs

    What type of property is this?
    Land - Three prime retail outlots near St. Mary's Medical Center.
    Where is this land located?
    The property is located at 1403 Lake Park Ave Hobart, IN.
    What are key features of this property?
    This property features: Three separate outlots available near St. Mary's Medical Center.; Outlots range from 0.41 to 0.57 acres.; Ample parking available for each outlot.
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    Realmo Value Estimation

    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.

    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.

    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
    1403 Lake Park Ave Hobart, IN 46342
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