6201 Opportunity LnMerrillville, IN 46410

Property Details for 6201 Opportunity Ln

Year built

1989

Construction

WOOD

Lot size

3.63 AC

Property size (Sq ft)

44,418 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

45-12-10-228-001.000-030

APU

451210228001000030

Description

This exceptional 1-acre commercial land parcel in Merrillville, Indiana, presents a unique investment opportunity. Located at 6201 Opportunity Ln, 46410, this property boasts a pre-engineered restaurant pad, complete with a paved parking lot and readily available utilities. Its strategic location just off the I-65 and 61st Avenue exit offers unparalleled visibility and accessibility for businesses catering to travelers. The site's existing infrastructure significantly reduces development time and costs, making it ideal for a quick turnaround project. The land is priced at $350,000, or $8.03 per square foot. Situated in the same parking lot as an Econolodge, this location benefits from existing traffic and brand recognition. Directions: From I-65, take the 61st Ave exit east to Mississippi St. Turn right (south) on Mississippi St. to the pad site at the southwest corner of Mississippi/62nd Ave. This property is perfect for a highway-oriented restaurant seeking a convenient and established location. The site's existing infrastructure minimizes development hurdles, allowing for a swift transition to operational status. Don't miss this chance to acquire a ready-to-build commercial lot in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $16,213,657

  6.5%

  $14,966,452

  7%

  $13,897,420

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,595,795

  Geo Method

  $13,595,795

• Alternative Use

  Use

  Valuation

  Residential

  $16,339,018

  Hospitality

  $14,966,452

  Educational

  $12,451,913

  Medical

  $12,880,153

  Retail

  $19,369,642

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.5047

Longitude

-87.3173

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.