6515 Melton Rd Gary, IN 46403-3012
- Warehouses
- 6,200 SF
- 1.61 lot acres
Current Use by Public Records
- Illinois central school bus / Transportation Service
- System Transport / Trucking Company
Property Details for 6515 Melton Rd
- Year built
- 1953
- Construction
- WOOD
- Lot size
- 1.61 lot acres
- Property size
- 6,200 SF
- Property type
- Warehouses
- APN
- 45-09-05-354-003.000-004
- APU
- 450905354003000004
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $280,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $330,000
- 6.5%
- $335,000
- 7%
- $300,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $310,000
- Geo Method
- $290,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $305,000
- Retail
- $285,000
- Mixed-Use
- $355,000
- Hospitality
- $320,000
- Educational
- $285,000
- Residential Income
- $295,000
- Energy
- $310,000
- Income-Based Land
- $290,000
- Food Service
- $335,000
Location Insight
- Map
- Local Demand
- City
- Gary
- County
- Lake
- State
- Indiana
- Longitude
- -87.2599
- Latitude
- 41.5955
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
