Property profile & analytics
3450 Grant St Gary, IN 46408
- Commercial real estate
- 40,400 SF
- 2.53 lot acres
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US31-0067732
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- Road Equipment Parts Center / Auto Parts Store
Property Details for 3450 Grant St
- Year built
- 1961
- Construction
- WOOD
- Lot size
- 2.53 lot acres
- Property size
- 40,400 SF
- Property type
- Commercial real estate
- APN
- 45-08-20-426-008.000-003
- APU
- 450820426008000003
Description
This exceptional 20,200 square foot flex space property at 3450 Grant Street in Gary, Indiana, presents a unique investment opportunity. The property is currently vacant and offers significant potential for redevelopment or reuse. The existing building comprises a 2,400 square foot showroom/office area with a 12-foot ceiling, a spacious entry, reception area, multiple offices, and an open workspace. The substantial 18,000+ square foot warehouse boasts a 12-foot ceiling, an exterior loading dock, multiple overhead doors (including a drive-through bay), 3-phase 240-volt/400-amp electric service, and an unfinished basement. A large pylon sign enhances visibility. The property sits on a generous 3.7-acre lot, allowing for expansion or redevelopment. City water and sewer are available. Strategically located on the west side of Grant Street, this property enjoys excellent access to I-80/94 (less than a mile south) and Ridge Road (1/2 mile north). Its prime location offers easy access to Chicago (under 45 minutes), the Indiana/Illinois state line, and Lake Michigan. Surrounded by established businesses including Subway, Dunkin', Wing Stop, Burger King, and numerous national chains, this property benefits from high visibility and strong traffic counts. 2023 INDOT traffic counts show 18,165 vehicles per day on Grant Street and 178,344 vehicles per day on I-80/94 east of Grant Street. The APN is 45-08-20-401-002.000-003, 45-08-20-426-008.000-003. The asking price is $950,000.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,232,000
- AI Estimate
- $2,500,000
Market price range: $1.47M - $4.38MMarket price range: $1.31M - $5.15M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $2,745,000 Current use
- RETAIL STORES
- $3,065,000 Change: +12% Conversion: Easy
- WAREHOUSE, STORAGE
- $3,015,000 Change: +10% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $2,275,000 Change: -17% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Gary
- County
- Lake
- State
- Indiana
- Longitude
- -87.3568
- Latitude
- 41.5563
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$17,484
$303,600
$268,600
$572,200
-
$303,600
$268,600
$572,200
