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    OFF-MARKET
    Commercial land

    347 Melton Rd, Burns Harbor, IN 46304-9760

    2 ac lot
    Entity Owned 8-yr Hold ~ Est. High Equity
    Property ID
    US31-0617095
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Commercial land
    Use group VACANT COMMERCIAL LAND
    Lot 2 ac (87,120 SF)
    APN 64-06-05-401-003.000-024
    UPID US31-0617095
    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
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    Owner & transaction history
    347 Melton LLC · 8 yrs held
    347 Melton LLC
    since 2018
    5 recorded transactions
    2018
    2018
    2017
    1969
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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