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Property profile & analytics
OFF-MARKET Estimated value $945,000
Manufacturing properties

1201 86th Pl Merrillville, IN 46410-6337

30,414 SF 2.87 ac lot Built 1989
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US31-0661378
Property summary
AI-generated overview

This exceptional 29,420-square-foot industrial flex building, located at 1201 E 86th Place in Merrillville, Indiana, presents a unique investment opportunity. The property, situated on a 2.87-acre lot, offers flexible space ideal for a variety of uses. Built in 1989, this Class C building boasts a two-story design with a generous 20-foot ceiling height, providing ample room for operations and storage. Eight drive-in doors ensure efficient loading and unloading. The building can accommodate a single large tenant or be easily subdivided into smaller, customizable units, each with a blend of office and warehouse space. The property's zoning is M-1 Limited Industrial. Its strategic location at the intersection of 86th Place and Mississippi Street in Merrillville, the largest town in Lake County, Indiana, offers excellent visibility and accessibility. The property benefits from its proximity to I-65 and enjoys one of the lowest tax rates in Lake County. Potential uses include, but are not limited to, lab space, research and development, technology firms, processing facilities, auto repair shops, manufacturing operations, and outside storage. The APN is 45-12-27-202-007.000-030. This property is a prime opportunity for businesses seeking a versatile and well-located industrial space in a thriving community. The zip code is 46410.

Property profile
Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1989
Construction WOOD
Total area 30,414 SF
Lot 2.87 ac (125,191 SF)
APN 45-12-27-202-007.000-030
UPID US31-0661378
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$670k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.22M
Blend (final) Blend
$945k
Owner & transaction history
Elevate Merrillville LLC · 3 yrs held
Elevate Merrillville LLC
since 2022
1 recorded transaction
2022
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $1.4M +44.6%
Medical building $1.2M +25.3%
Commercial (general) $1.2M +24.9%
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