8400 Georgia StMerrillville, IN 46410

Property Details for 8400 Georgia St

Year built

2006

Construction

TYPE NOT SPECIFIED

Lot size

2.82 AC

Property size (Sq ft)

26,158 SF

Property type

Office properties

Property subtype

Other office properties

APN

45-12-22-380-005.000-030

APU

451222380005000030

Description

This exceptional 6.239-acre commercial land parcel presents a unique development opportunity in Merrillville, Indiana. Strategically located on Georgia Street, the property boasts unparalleled visibility from I-65, ensuring high traffic exposure for any future development. The Highway Commercial zoning allows for a wide range of uses, making it ideal for businesses seeking a prominent presence in a thriving area. The surrounding area is a hub of activity, with numerous medical and professional office buildings, dozens of national retailers within a three-mile radius, and several hotels, corporate headquarters, a college, and a large hospital nearby. This prime location benefits from its proximity to the strong retail and restaurant corridors of Northwest Indiana, and a population of approximately 100,000 within a five-mile radius. The property is aggressively priced at $650,000, or $2.39 per square foot, representing a compelling investment opportunity for developers seeking high-impact visibility and strong potential returns. Access is easily gained from I-65 via Exit US 30 West to Georgia Street. Merrillville, situated in Lake County, is a key retail center in Northwest Indiana, home to the Fortune 500 company, NiSource. This is a rare chance to acquire a significant land holding in a high-demand location.

• CAP approach

  CAP return

  Valuation

  6%

  $8,406,436

  6.5%

  $7,759,787

  7%

  $7,205,516

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,407,080

  Geo Method

  $3,407,080

• Alternative Use

  Use

  Valuation

  Residential

  $9,622,136

  Hospitality

  $8,813,825

  Educational

  $7,332,998

  Medical

  $7,585,192

  Retail

  $11,406,887

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.4653

Longitude

-87.3249

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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