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Property profile & analytics
OFF-MARKET Estimated value $820,000
Auto shops

1777 81st Ave Merrillville, IN 46410

16,652 SF 3.16 ac lot Built 1992
Entity Owned 5-yr Hold Free & Clear
Property ID
US31-0710782
Property summary
AI-generated overview

This 14,412 square foot free-standing building, situated on a 3.16-acre lot in Merrillville, Indiana, presents a unique opportunity. Previously used as an auto dealership, the property boasts a prime location directly on US 30 (W. 81st Ave), offering maximum visibility to high traffic volume. Its convenient proximity to I-65 (less than 2 miles via US 30) ensures excellent accessibility. The building, constructed in 1992, includes a spacious showroom, multiple offices, conference rooms, and breakrooms. A substantial service and parts department features eight lifts and multiple drive-in doors. Ample parking is available, with room for approximately 190-200 vehicles. The property benefits from its location within a strong retail trade area in Northwest Indiana, surrounded by other dealerships (Hyundai, Infiniti, Ford, Cadillac) and national retailers (Aldi, Gordon Food Service, Starbucks, Meijer, At Home, and more). The entire 14,412 square feet is currently vacant and ready for immediate occupancy. This property is zoned for commercial use in Lake County, Indiana, zip code 46410.

Property profile
Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1992
Construction TYPE NOT SPECIFIED
Total area 16,652 SF
Lot 3.16 ac (137,693 SF)
APN 45-12-20-427-007.000-030
UPID US31-0710782
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
$595k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.05M
Blend (final) Blend
$820k
Owner & transaction history
Ajz Merrillville LLC · 5 yrs held
Ajz Merrillville LLC
since 2021
6 recorded transactions
2021
Price N/A
2021
Price N/A
2016
Price N/A
2013
Price N/A
2013
Price N/A
2005
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $1.2M +27.2%
Apartment house (5+ units) $960,000 +5.3%
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