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Property profile & analytics
FOR SALE
Hotels

6201 Opportunity Ln Merrillville, IN 46410

44,418 SF 3.63 ac lot Built 1989
Entity Owned 7-yr Hold ~ Est. High Equity
Property ID
US31-0336158
Property summary
AI-generated overview

This exceptional 1-acre commercial land parcel in Merrillville, Indiana, presents a unique investment opportunity. Located at 6201 Opportunity Ln, 46410, this property boasts a pre-engineered restaurant pad, complete with a paved parking lot and readily available utilities. Its strategic location just off the I-65 and 61st Avenue exit offers unparalleled visibility and accessibility for businesses catering to travelers. The site's existing infrastructure significantly reduces development time and costs, making it ideal for a quick turnaround project. The land is priced at $350,000, or $8.03 per square foot. Situated in the same parking lot as an Econolodge, this location benefits from existing traffic and brand recognition. Directions: From I-65, take the 61st Ave exit east to Mississippi St. Turn right (south) on Mississippi St. to the pad site at the southwest corner of Mississippi/62nd Ave. This property is perfect for a highway-oriented restaurant seeking a convenient and established location. The site's existing infrastructure minimizes development hurdles, allowing for a swift transition to operational status. Don't miss this chance to acquire a ready-to-build commercial lot in a high-traffic area.

Property profile
Verified
Property type Hotels
Use group HOTEL/MOTEL
Year built 1989
Construction WOOD
Total area 44,418 SF
Lot 3.63 ac (158,036 SF)
APN 45-12-10-228-001.000-030
UPID US31-0336158
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
Current use
Occupant on record · Public records
  • Days Inn & Suites by Wyndham Merrillville Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$620k
CAP Approach CAP
by Request
Comparable Approach Comparable
$448k
Blend (final) Blend
$535k
Owner & transaction history
Pramukh Hotel LLC · 7 yrs held
Pramukh Hotel LLC
since 2019
6 recorded transactions
2020
Price N/A
2019
Price N/A
2018
Price N/A
2011
Price N/A
2011
$1.5M
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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