1500 E 83Rd Ave Merrillville, IN 46410
For Sale
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This exceptional 2.42-acre commercial land parcel presents a unique investment opportunity in Merrillville, Indiana. Strategically located at 1500 E. 83rd Ave., this property boasts unparalleled visibility due to its proximity to the South Lake Mall entry at Mississippi St. and E. 83rd Ave., ensuring high traffic exposure. The site benefits from all utilities, including town water and sewer, simplifying development. Its advantageous position adjacent to a brand-new WoodSpring Suites extended-stay hotel further enhances its appeal and potential for synergistic development. This location is situated within one of Northwest Indiana's strongest retail corridors, offering easy access to the substantial consumer base of Southlake Mall. The property also enjoys excellent visibility from I-65, with convenient interstate access within a half-mile radius. A daily traffic count of 15,000 vehicles underscores the high volume of potential customers. The land is priced at $245,868 per acre, representing a compelling investment in a thriving commercial area. This property is ideal for a variety of commercial uses, offering significant potential for growth and return. The address is 1500 E. 83rd Ave., Merrillville, IN 46410, located in Adams County.
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WoodSpring Suites Merrillville Hotel & Motel Vacation Rental
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.