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    Property profile & analytics

    5230 Melton Rd Gary, IN 46403

    • Parking lots & garages
    • 0.07 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Oct 16, 2023
    $22,100
    Location Intelligence
    Property ID
    US31-1047533
    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

    • Parking lots & garages

    Property Details for 5230 Melton Rd

    Year built
    1945
    Lot size
    0.07 lot acres
    Property type
    Parking lots & garages
    APN
    45-09-06-376-033.000-004
    APU
    450906376033000004

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Gary
    County
    Lake
    State
    Indiana
    Longitude
    -87.2745
    Latitude
    41.5966
    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
    $103
    $1,300
    $1,600
    $2,900
    -
    $1,300
    $1,600
    $2,900

    Comparable in this City

    • Value Estimation by Request
      0.23 Acres

      645 Lk St

      PARKING LOT • 0.23 Acres
      645 Lk St, Gary, IN 46403
      View Details
    • Value Estimation by Request
      0.16 Acres

      300 Lk St, Unit 6

      PARKING LOT • 0.16 Acres
      300 Lk St, Gary, IN 46403
      View Details
    • Value Estimation by Request
      0.07 Acres

      917 Aetna St

      PARKING LOT • 0.07 Acres
      917 Aetna St, Gary, IN 46403-3510
      View Details
    • Value Estimation
      $300,000
      2.92 Acres

      8202 Melton Rd

      PARKING LOT • 2.92 Acres
      8202 Melton Rd, Gary, IN 46403
      View Details
    • Value Estimation by Request
      0.30 Acres

      6300 Miller Ave

      PARKING LOT • 0.30 Acres
      6300 Miller Ave, Gary, IN 46403-2567
      View Details
    • Value Estimation
      $60,000
      0.99 Acres

      15th Clay St

      PARKING LOT • 0.99 Acres
      15th Clay St, Gary, IN 46403
      View Details

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    Similar Nearby for Lease

    • $32 SF/Yr
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      Melton Road Industrial Facility

      4,820 SF Manufacturing/Flex Space
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    5230 Melton Rd
    Gary, IN 46403
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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