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Property profile & analytics
FOR SALE
Hotels

8460 Mississippi St Merrillville, IN 46410

60,444 SF 2.2 ac lot Built 2017
Entity Owned 13-yr Hold Absentee Owner Free & Clear
Property ID
US31-3216394
Property summary
AI-generated overview

This exceptional 2-acre parcel of land, zoned C-3, presents a remarkable investment opportunity in Merrillville, Indiana. Located at 8460 Mississippi Street, this property boasts a highly desirable location near the intersection of Mississippi Street and Indiana Avenue, offering convenient access to major transportation arteries. The site's proximity to Southlake Mall to the north and the US 30 and I-65 interchange just a few blocks south ensures high visibility and accessibility. Surrounding businesses include various hospitality establishments, national retailers, and restaurants, creating a vibrant and thriving commercial environment. Preliminary discussions with Merrillville town officials have indicated a potential for flex and/or warehouse uses, subject to meeting specific criteria and obtaining necessary municipal approvals. Utilities are to be connected to the site. The property's C-3 zoning allows for a wide range of commercial uses, including retail, office, and hospitality developments, making it an ideal location for a variety of businesses. The asking price for this exceptional property is $400,000. This prime location, combined with its versatile zoning and convenient access to major roadways, makes this a truly unique opportunity for investors and developers seeking a strategic foothold in a rapidly growing market within Lake County, Indiana, zip code 46410.

Property profile
Verified
Property type Hotels
Use group HOTEL/MOTEL
Year built 2017
Construction WOOD
Total area 60,444 SF
Lot 2.2 ac (95,832 SF)
APN 45-12-22-479-004.000-030
UPID US31-3216394
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
  • Christ Embassy Merrillville Church
  • Holiday Inn Express & Suites Merrillville, an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$815k
Owner & transaction history
Hall Family Investors II LLC · 13 yrs held
Hall Family Investors II LLC
since 2012
4 recorded transactions
2019
Price N/A
2016
Price N/A
2012
$130,000
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?”
More about this property
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