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    1701 61St Ave Hobart, IN 46342

    For Sale
    Contact for pricing

    30.8 acres, divisible lots, I-65 visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 30.8-acre commercial land offering in Hobart, Indiana presents a unique investment opportunity. The property, located at 1701 E 61st Ave, is divided into two separately sellable lots, both of which are divisible to accommodate various development needs. Lot A is priced at $90,000 per acre for the entire site, while Lot B is priced at $195,000 per acre. Pricing is subject to change if parcels are divided. The property boasts approximately 1,640 feet of frontage on 61st Avenue and offers excellent visibility from Interstate 65. Zoned B-3, the land is suitable for a wide range of commercial developments, including retail, office, medical, hospitality, multi-family, and potentially industrial uses (primarily on the southern portion of the larger parcel). The location within the higher-income demographic areas of Hobart and Merrillville provides strong market potential. Nearby amenities include Costco, Southlake Mall, Walmart, Sam's Club, St. Mary's Medical Center, and Merrillville High School. Its proximity to Interstates 65 (less than 0.5 miles) and 94 (7 miles south) ensures excellent accessibility. The property is conveniently located 50 minutes southeast of Chicago and approximately 80 minutes west of South Bend, Indiana, surrounded by established businesses and residential neighborhoods. APN numbers are 45-12-11-126-003.000-046; 45-12-11-103-002.000-046; and 45-12-10-277-002.000-030. The total acreage ranges from 0.5 to 30.8 acres.

    Property Features for 1701 61St Ave

    General Information

    Property type
    Land
    Lot Size
    21,780 SF

    Building Details

    Buildings
    1

    HighLights

    • 30.8 acres of commercially zoned land available in Hobart, IN.
    • Two divisible parcels available, Lot A and Lot B.
    • Lot A priced at $90,000/acre (entire site); price subject to change if divided.
    • Lot B priced at $195,000/acre; divisible parcels.
    • APN: 45‑12‑11‑126‑003.000‑046; 45‑12‑11‑103‑002.000‑046; 45‑12‑10‑277‑002.000‑030.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Hotel & Motel Gym & Fitness Pharmacy Department Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.3150873
    Latitude
    41.5053957

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    FAQs

    What type of property is this?
    Land - 30.8 acres, divisible lots, I-65 visibility
    Where is this land located?
    The property is located at 1701 61St Ave Hobart, IN.
    What are key features of this property?
    This property features: 30.8 acres of commercially zoned land available in Hobart, IN.; Two divisible parcels available, Lot A and Lot B.; Lot A priced at $90,000/acre (entire site); price subject to change if divided.
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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
    1701 61St Ave Hobart, IN 46342
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