Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7990 Hwy Merrillville, IN 46410

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7990 Hwy Merrillville, IN 46410

    View on Map
    • Land
    • 12.03 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 7990 Hwy

    Lot size
    12.03 lot acres
    Property type
    Land

    Description

    This exceptional 12.03-acre commercial land parcel presents a prime investment opportunity in Merrillville, Indiana. Boasting 660 feet of frontage on heavily trafficked US Highway 30 and an additional 689.87 feet on Randolph Street, this C-3 zoned property offers unparalleled visibility and accessibility. The site includes a Lamar billboard, adding immediate revenue potential. With 27,101 vehicles passing daily (2022 IDOT data), this location ensures high exposure for any commercial venture. Conveniently situated 5.5 miles east of I-65, the property benefits from excellent regional connectivity. Surrounding businesses include Smiles on Randolph, Resurrection Lutheran Church, Albanese Nut and Candy Factory, and Deep River Water Park, further enhancing its desirability. The property's proximity to the Town of Winfield and established residential communities like Lakes of the Four Seasons and Double Tree provides a strong customer base. The 2023 payable 2024 property taxes are $14,696.94. APN: 45-13-20-426-005.000-030. Note that the gross acreage is 12.03 acres, with 9.88 net acres after accounting for existing and proposed right-of-ways. This is a rare opportunity to acquire a high-traffic, strategically located commercial land parcel in a thriving Northwest Indiana market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.2399
    Latitude
    41.4708

    Comparable in this City

    • Value Estimation by Request
      20.00 Acres

      8575-8595 Grand Blvd

      Land • 20.00 Acres
      8575-8595 Grand Blvd, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      1.00 Acre

      I-65

      Land • 1.00 Acre
      0 I-65, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      1.11 Acres

      Broadway Ave

      Land • 1.11 Acres
      0 Broadway Ave, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      4.22 Acres

      3425 Hwy

      Land • 4.22 Acres
      3425 Hwy, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      3.00 Acres

      5340-64 Broadway

      Lifestyle centers • 43,688 SF
      5340-64 Broadway, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      87.00 Acres

      73Rd Ave

      Land • 87.00 Acres
      0 73Rd Ave, Merrillville, IN 46410
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      1500 E 83Rd Ave, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      9205 Georgia St, Merrillville, IN 46410
      View Details
    • $225,000
      1.00 Acre

      AmeriPlex Land: I-65, Merrillville

      Prime Commercial Land, Indiana
      0 I-65, Merrillville, IN 46410
      View Details
    • $275,000

      0 Broadway

      Land
      0 Broadway, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      2805 E 69Th Ave, Merrillville, IN 46410
      View Details
    • Contact for pricing

      33 Acres Build-to-Suit Land

      33 acres of land available for build-to-suit development.
      309 E 93Rd Ave, Merrillville, IN 46410
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Proposed Office Space Available

      Proposed office building with customizable floor plans in Merrillville, Indiana.
      720 E 80Th Pl, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Retail Center on US 30

      Neighborhood retail center with high visibility and accessibility.
      401 81St Ave, Merrillville, IN 46410
      View Details
    • $2,750 /Mo
      3,500 SF

      Merrillville Flex/Industrial Space For Rent

      Flex/industrial space available for lease in Merrillville, Indiana.
      101-107 W 78Th Pl NW, Merrillville, IN 46410
      View Details
    • Contact for pricing
      2,276 SF

      Retail and Office Strip Center

      Multi-tenant strip center ideal for retail and office users.
      7950-7990 Broadway, Merrillville, IN 46410
      View Details
    • Contact for pricing
      1,200 SF

      Office Space on Lincoln Highway

      Well-maintained office suites with high visibility and easy access.
      2620 West Lincoln Hwy, Merrillville, IN 46410
      View Details
    • $4,000 /Mo

      NW Indiana Redevelopment Opportunity

      Centrally located building near retail and major redevelopment.
      1441 e 82Nd Ave, Merrillville, IN 46410
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7990 Hwy
    Merrillville, IN 46410
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!