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Property profile & analytics
OFF-MARKET
Warehouses

6515 Melton Rd Gary, IN 46403-3012

6,200 SF 1.61 ac lot Built 1953
Individually Owned 6-yr Hold Absentee Owner Free & Clear
Property ID
US31-0854991
Property summary
AI-generated overview

This exceptional 6,750-square-foot industrial property, situated on 1.63 acres in Northwest Indiana, presents a unique investment opportunity. Previously utilized as a school bus dispatch and maintenance facility, the building boasts a versatile layout ideal for a variety of uses. The space includes two repair bays, one equipped with a 14' x 14' overhead door and an overhead crane, perfect for equipment maintenance or storage. A well-appointed office area features four private offices and a lunchroom, complemented by a full upstairs conference or training room. The high ceilings, measuring 18 feet, provide ample vertical space. The property benefits from excellent accessibility, with convenient access to major expressways including I-65, I-90, I-80, and I-94. The expansive 1.63-acre lot provides ample outdoor space, and offers the potential for expansion by combining with the adjacent property at 6401 Melton Road, increasing the total land area to 5.25 acres and adding four more service bays. This property is ideally suited for trucking operations, equipment rental or storage/repair businesses, contractors, or any enterprise requiring office space and maintenance bays with substantial outdoor storage capabilities. The building is currently vacant and available for immediate occupancy. The property underwent renovations in 2020.

Property profile
Verified
Property type Warehouses
Use group STORAGE YARD, OPEN STORAGE
Year built 1953
Construction WOOD
Total area 6,200 SF
Lot 1.61 ac (69,957 SF)
APN 45-09-05-354-003.000-004
UPID US31-0854991
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
  • Illinois central school bus Freight Service Logistics Company
  • System Transport Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
State Of Indiana · 6 yrs held
State Of Indiana
since 2020
2 recorded transactions
2020
Price N/A
2019
$330,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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