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    1500 83Rd Ave Merrillville, IN 46410

    Sponsored
    For Sale
    Contact for pricing

    Prime Commercial Land Near Southlake Mall

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 2.42-acre commercial land parcel presents a unique investment opportunity in Merrillville, Indiana. Strategically located at 1500 E. 83rd Ave., this property boasts unparalleled visibility due to its proximity to the South Lake Mall entry at Mississippi St. and E. 83rd Ave., ensuring high traffic exposure. The site benefits from all utilities, including town water and sewer, simplifying development. Its advantageous position adjacent to a brand-new WoodSpring Suites extended-stay hotel further enhances its appeal and potential for synergistic development. This location is situated within one of Northwest Indiana's strongest retail corridors, offering easy access to the substantial consumer base of Southlake Mall. The property also enjoys excellent visibility from I-65, with convenient interstate access within a half-mile radius. A daily traffic count of 15,000 vehicles underscores the high volume of potential customers. The land is priced at $245,868 per acre, representing a compelling investment in a thriving commercial area. This property is ideal for a variety of commercial uses, offering significant potential for growth and return. The address is 1500 E. 83rd Ave., Merrillville, IN 46410, located in Adams County.

    Property Features for 1500 83Rd Ave

    General Information

    Property type
    Land
    Lot Size
    105,415 SF

    HighLights

    • 2.42‑acre commercial land parcel in Merrillville, IN.
    • All utilities available on‑site, including town water and sewer.
    • High visibility near South Lake Mall and Mississippi St.
    • Adjacent to a new WoodSpring Suites hotel.
    • Prime Northwest Indiana retail corridor location near I‑65.
    • Excellent I‑65 access within 0.5 miles; 15,000 vehicles daily traffic count.
    Property Profile Location Intelligence

    Current Use by Public Records

    WoodSpring Suites Merrillville Extended Stay Hotel

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Adams
    State
    Indiana
    Longitude
    -87.3184631
    Latitude
    41.4686445

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    FAQs

    What type of property is this?
    Land - Prime Commercial Land Near Southlake Mall
    Where is this land located?
    The property is located at 1500 83Rd Ave Merrillville, IN.
    What are key features of this property?
    This property features: 2.42-acre commercial land parcel in Merrillville, IN.; All utilities available on-site, including town water and sewer.; High visibility near South Lake Mall and Mississippi St.
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    1500 83Rd Ave Merrillville, IN 46410
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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
    1500 83Rd Ave Merrillville, IN 46410
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