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    512 Cleveland Rd Granger, IN 46530

    For Sale
    $690,000

    High-traffic retail outlot, drive-thru ready.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 0.78-acre commercial land parcel, located at 512 W Cleveland Road in Granger, Indiana (zip code 46530), presents a prime opportunity for retail development. Zoned PUD and engineered for drive-through businesses, this outlot boasts over 250 feet of frontage on Cleveland Road (Indiana State Road 23), a high-traffic artery with over 29,079 vehicles passing daily. Its strategic location within the University Park Trade Area (UPTA), one of Northern Indiana's most dominant retail markets, offers unparalleled visibility and accessibility. The property enjoys a prominent position across from the 1 million-square-foot University Park Mall, the largest regional mall in Northern Indiana, and is surrounded by nearly 3 million square feet of successful ancillary retail space, solidifying its place within a thriving retail ecosystem. The UPTA, encompassing nearly 4 million square feet of retail, ranks as the second largest retail trade area in Indiana. This outlot is part of the new CAP Storage development, slated for construction later this year, further enhancing its appeal and potential for significant return on investment. The lighted intersection provides excellent visibility, making it ideal for quick-service restaurants (QSRs) and other businesses requiring high traffic exposure. This is a rare opportunity to acquire a highly desirable commercial land parcel in a rapidly growing market. The asking price is $690,000.

    Property Features for 512 Cleveland Rd

    General Information

    Property type
    Land
    Lot Size
    33,977 SF

    HighLights

    • 0.78‑acre commercial land parcel in Granger, IN (46530), zoned PUD and engineered for drive‑throughs.
    • Over 250' of frontage on high‑traffic Cleveland Road (SR 23), with over 29,079 vehicles daily.
    • Prime location in the University Park Trade Area, across from a 1M SF regional mall and surrounded by 3M SF of retail.
    • Part of a new CAP Storage development, offering high visibility and ROI potential.
    • Asking price: $690,000.
    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 Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Granger
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.1895606
    Latitude
    41.7243084

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    FAQs

    What type of property is this?
    Land - High-traffic retail outlot, drive-thru ready.
    Where is this land located?
    The property is located at 512 Cleveland Rd Granger, IN.
    What is the asking price?
    The asking price for this property is $690,000.
    What are key features of this property?
    This property features: 0.78-acre commercial land parcel in Granger, IN (46530), zoned PUD and engineered for drive-throughs.; Over 250' of frontage on high-traffic Cleveland Road (SR 23), with over 29,079 vehicles daily.; Prime location in the University Park Trade Area, across from a 1M SF regional mall and surrounded by 3M SF of retail.
    (574) 485-1501
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    512 Cleveland Rd Granger, IN 46530
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    Granger, IN 46530
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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
    512 Cleveland Rd Granger, IN 46530
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