6340 Melton Rd Portage, IN 46368
- Retail space
- 3,208 SF
- 3.93 lot acres
Current Use by Public Records
- Retail space
Property Details for 6340 Melton Rd
- Year built
- 1948
- Construction
- WOOD
- Lot size
- 3.93 lot acres
- Property size
- 3,208 SF
- Property type
- Retail space
- APN
- 64-05-01-403-007.000-016
- APU
- 640501403007000016
Description
This exceptional 3.93-acre parcel at 6340 Melton Road in Portage, Indiana presents a remarkable opportunity for commercial development. The property boasts a prime location in a rapidly growing area, offering unparalleled visibility and accessibility. Previously occupied by a building that has since been demolished and cleared, the land is ready for immediate development. Its Highway Commercial zoning and inclusion in a Tax Increment Financing (TIF) district provide significant advantages for potential investors. The strategic location, surrounded by established businesses such as several hotel brands, Bass Pro Shops, Dunkin' Donuts, and a Luke gas station, ensures high traffic volume and excellent exposure. Convenient access to major highways and roadways guarantees maximum visibility for any commercial venture. This expansive site allows for the development of multiple businesses on a single parcel, providing endless possibilities for entrepreneurs and investors seeking a high-impact location. The cleared land eliminates the need for demolition and site preparation, allowing for a faster and more cost-effective development process. This is an exceptional opportunity to establish a thriving commercial presence in a thriving market. The combination of prime location, favorable zoning, and cleared land makes this property an ideal investment for those seeking significant return on investment in a rapidly expanding area. Don't miss this chance to capitalize on the potential of this exceptional commercial land.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $265,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $360,000
- 6.5%
- $380,000
- 7%
- $385,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $350,000
- Geo Method
- $395,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $380,000
- Retail
- $400,000
- Mixed-Use
- $380,000
- Hospitality
- $380,000
- Educational
- $320,000
- Residential Income
- $310,000
- Energy
- $380,000
- Income-Based Land
- $405,000
- Food Service
- $400,000
Location Insight
- Map
- Local Demand
- City
- Portage
- County
- Porter
- State
- Indiana
- Longitude
- -87.1703
- Latitude
- 41.5993
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
