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Property profile & analytics
FOR SALE
Retail space

301 Grant Ave Chesterton, IN 46304

6,236 SF 0.79 ac lot Built 1961
Individually Owned 3-yr Hold Absentee Owner Free & Clear
Property ID
US31-0224023
Property summary
AI-generated overview

This exceptional Chesterton, Indiana retail property presents a truly unique investment opportunity. The property consists of four repurposed train cars, connected by a central building, offering approximately [Square footage not provided] of versatile commercial space. An impressive eighty-foot deck flanks each side of the train cars, providing ample outdoor space for customer use or expansion. This one-of-a-kind property boasts a prime location directly across the tracks from a train-themed bed and breakfast and the Duneland Chamber of Commerce, which hosts a popular European Market attracting up to 3,000 visitors each weekend. The property's proximity to downtown Chesterton adds to its appeal, offering easy access to local amenities and foot traffic. Further enhancing its convenience, a public restroom is located within a train car in the nearby park. Across Fourth Street lies the 4th Street Theater, providing additional cultural draw. The property's strategic location offers unparalleled access to major transportation arteries, including the South Shore Train Station, Indiana Toll Road, I-94, and is just minutes from Lake Michigan, Porter Beach, and the Indiana Dunes National Park, which drew over four million visitors in 2022. This 0.79-acre lot is situated within the Chesterton Riverfront Development Project, making it eligible for a liquor license, presenting further potential for business expansion and revenue generation. This is a rare chance to acquire a truly distinctive and high-visibility retail space in a thriving community. The asking price is $450,000.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1961
Construction WOOD
Total area 6,236 SF
Lot 0.79 ac (34,412 SF)
APN 64-03-36-408-001.000-023
UPID US31-0224023
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
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Andrew P Trella · 3 yrs held
Andrew P Trella
since 2023
1 recorded transaction
2023
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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