347 Melton Rd, Burns Harbor, IN 46304-9760
Exceptional 5.16-acre development opportunity in Chesterton, Indiana, strategically located on US Highway 20. This rectangular parcel boasts 612 feet of road frontage, offering excellent visibility and accessibility. The property is zoned for both residential and commercial uses (Lots 5 & 6: Residential/Commercial 1), providing flexibility for a variety of development projects. Its prime location offers easy access to major transportation arteries, including Interstate 94, US Highway 12, and State Highway 149, as well as proximity to I-65 and state roads 249, 51, and 49. The site benefits from its proximity to the Indiana Dunes National Lakeshore Park, Burns Harbor's industrial sector (including Cleveland Cliffs Burns Harbor steel mill and the Port of Indiana), and the Ameriplex at the Port business park. This location also provides convenient access to commuter rail service to Chicago and South Bend. The lot depths range from 250 to 300 feet, accommodating diverse uses, from commercial flex warehouse space to live-work opportunities. Low Indiana taxes further enhance the investment potential. This property presents a unique chance to capitalize on the growth and development within this thriving community. The asking price is $785,000.
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.