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    1441 82Nd Ave Merrillville, IN 46410

    • Parking lots & garages
    • 0.98 lot acres
    For Sale
    View listing
    Value Estimation
    Location Intelligence
    Property ID
    US31-0420894
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 1441 82Nd Ave

    Year built
    1984
    Lot size
    0.98 lot acres
    Property type
    Parking lots & garages
    APN
    45-12-22-427-006.000-030
    APU
    451222427006000030

    Description

    This exceptional 3,298 square foot executive office space is located at 1441 E 82nd Ave in Merrillville, Indiana, 46410. Built in 1986, the property sits on a 1.14-acre lot and is currently vacant, presenting a unique opportunity for immediate occupancy. Previously used as a restaurant, the space offers significant potential for repurposing to suit a variety of executive office needs. The building benefits from high visibility due to its location, experiencing traffic from over 20,000 cars daily on Mississippi Street. Its strategic placement provides easy access to US 30 and I-65, enhancing accessibility for employees and clients. The property's proximity to hotels and restaurants adds further convenience. The existing drive-thru window presents an interesting feature for potential adaptive reuse. This location offers a strong foothold in Northwest Indiana's thriving business community. The property's size and location make it an ideal choice for businesses seeking a prominent and easily accessible office space. The vacant status allows for immediate customization to meet specific business requirements.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $255,000

    • CAP approach

      CAP return
      Estimation
      6%
      $265,000
      6.5%
      $290,000
      7%
      $260,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $280,000
      Geo Method
      $245,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $305,000
      Retail
      $295,000
      Mixed-Use
      $260,000
      Hospitality
      $260,000
      Educational
      $255,000
      Residential Income
      $260,000
      Energy
      $265,000
      Income-Based Land
      $320,000
      Food Service
      $295,000

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.3186
    Latitude
    41.4695
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $4,485
    $200,900
    $13,800
    $214,700
    -
    $200,900
    $13,800
    $214,700

    Comparable in this City

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      0.32 Acres

      849 57th Ave

      PARKING LOT • 0.32 Acres
      849 57th Ave, Merrillville, IN 46410
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      10,376 SF

      6200 Broadway

      PARKING LOT • 10,376 SF
      6200 Broadway, Merrillville, IN 46410-3004
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      0.16 Acres

      125 61st Ave

      PARKING LOT • 0.16 Acres
      125 61st Ave, Merrillville, IN 46410
      View Details

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    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
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