Property profile

4815 5th Ave Gary, IN 46406

OFF-MARKET
Retail space
Property ID
US31-0024114
9,800 SF 0.5 ac lot Built 1945
Entity Owned 6-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

Invest in this 0.5-acre retail property located at 4815 W 5th Avenue in Gary, Indiana, priced at $75,000. This former laundromat boasts a prime location on a busy four-lane road, offering exceptional visibility and accessibility. The building presents a significant opportunity for a savvy investor to revitalize a once-thriving business. The substantial space allows for the installation of 72+ washers and 46+ dryers, catering to a large customer base. Ample parking is available, with capacity for 25+ vehicles, and a convenient drive-thru window adds to the property's appeal. This property's strategic location in the heart of Gary ensures high traffic volume and strong potential for return on investment. The property is also available as part of a bundle deal with a separate property located at 1437 E Ridge Rd (MLS #544979), presenting an even more lucrative investment opportunity. This is a rare chance to acquire a well-situated retail space with significant upside potential. The property's size and features make it ideal for a variety of commercial uses, beyond its original purpose as a laundromat. Don't miss this chance to capitalize on a prime Gary location and bring a vibrant business back to life. Act quickly to secure this exceptional investment opportunity.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1945
Construction WOOD
Total area 9,800 SF
Lot 0.5 ac (21,649 SF)
APN 45-07-01-431-005.000-004
UPID US31-0024114

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

4815 5th Ave Gary, IN 46406-1618
Gary metro Census 10304 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$315k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$415k

Owner & transaction history

since 2019
2 recorded transactions
2019
Price N/A
2004
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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