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    400-407 87Th Ave Merrillville, IN 46410

    Sponsored
    For Sale
    $1,250,000

    Almost 10 acres, prime residential location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a portfolio of eight lots totaling 9.96 acres, ideally situated in Merrillville, Indiana. Located south of US 30, off Broadway, and near Methodist Hospital, this property benefits from a highly desirable location surrounded by established residential neighborhoods and medical offices. The land is already platted and subdivided, with retention systems in place, simplifying the development process. The zoning is R5 PUD Residential, allowing for high-density development. The combined asking price for this entire 9.96-acre parcel is $1,250,000, translating to a land value of $1.37 per square foot. The property's APN numbers are 45-12-28-253-015.000-030

    Property Features for 400-407 87Th Ave

    General Information

    Property type
    Land
    Lot Size
    433,858 SF

    HighLights

    • Nearly 10 acres, platted & subdivided, with existing stormwater retention.
    • Prime location south of US 30, off Broadway, adjacent to Methodist Hospital.
    • Excellent location surrounded by residential neighborhoods and medical facilities.
    • High‑density R5 PUD residential zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.3406404
    Latitude
    41.45887

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    FAQs

    What type of property is this?
    Land - Almost 10 acres, prime residential location.
    Where is this land located?
    The property is located at 400-407 87Th Ave Merrillville, IN.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Nearly 10 acres, platted & subdivided, with existing stormwater retention.; Prime location south of US 30, off Broadway, adjacent to Methodist Hospital.; Excellent location surrounded by residential neighborhoods and medical facilities.
    (219) 508-0554
    Request Owner's contact information
    400-407 87Th 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
    400-407 87Th Ave Merrillville, IN 46410
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