740 81st Ave Merrillville, IN 46410-5537
Property profile & analytics
740 81st Ave Merrillville, IN 46410-5537
- Turn key restaurants
- 7,607 SF
- 1.93 lot acres
Property ID
US31-3366502
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.
Location Intelligence
Current Use by Public Records
- Old Chicago Restaurant / Restaurant
Property Details for 740 81st Ave
- Year built
- 2002
- Construction
- WOOD
- Lot size
- 1.93 lot acres
- Property size
- 7,607 SF
- Property type
- Turn key restaurants
- APN
- 45-12-22-177-003.000-030
- APU
- 451222177003000030
Description
This exceptional Merrillville, Indiana restaurant property presents a unique investment opportunity. Located at 740 East 81st Avenue, this 7,607 square foot former restaurant sits on a spacious 1.93-acre lot and boasts ample parking with approximately 150 spaces. The property features multiple seating areas, including a bar and a patio, offering versatile space for a variety of culinary concepts. The building is ready for immediate occupancy and could easily be adapted to suit a new restaurant's needs. Its strategic location offers high visibility and accessibility. A significant advantage is its adjacency to a separate, larger development opportunity encompassing over 40 acres, presenting potential for synergistic expansion or collaborative ventures. The asking price is $2,500,000, translating to $328.64 per square foot. This property is ideally suited for an experienced restaurateur seeking a turnkey operation or a developer looking to capitalize on the combined potential of the restaurant and the adjacent land. The property's size, location, and potential for expansion make it a compelling investment in a thriving market. The 46410 zip code offers excellent access to major transportation routes and a strong local customer base. This is a rare opportunity to acquire a substantial restaurant property with significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Merrillville
- County
- Lake
- State
- Indiana
- Longitude
- -87.3304
- Latitude
- 41.4722
- 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
$53,834
$834,400
$914,100
$1,748,500
-
$834,400
$914,100
$1,748,500
