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Property profile & analytics
OFF-MARKET
Commercial real estate

9100 Broadway Merrillville, IN 46410

208 ac lot
Individually Owned 8-yr Hold
Property ID
US31-1049030
Property summary
AI-generated overview

This exceptional 208-acre parcel presents a unique mixed-use development opportunity in Merrillville, Indiana. Strategically located at the northwest corner of 93rd Avenue and Broadway, this property boasts significant frontage along both roadways (2,065 feet on Broadway and 3,400 feet on 93rd Avenue). Currently zoned R-2 (residential) and C-5 (commercial), the land offers flexibility for a variety of development plans, with the town showing receptiveness to zoning revisions. Preliminary development plans have already received positive feedback from Merrillville officials, indicating alignment of vision and interests. The property is situated within the Broadway Expansion Tax Increment Financing (TIF) District, providing access to potential incentives at the local, regional, and state levels. The site is envisioned as a blend of commercial and residential uses, with approximately 67 acres suitable for commercial development and 141 acres for residential. Commercial lots are priced at $200,000 per acre, while residential lots are offered at $90,000 per acre. The entire site is also available for sale, with pricing subject to offer. The seller retains the right to price any remaining land on a case-by-case basis. This prime location along the "medical care corridor" offers unparalleled visibility and access, making it an ideal investment for substantial development. The property's APN is 45-12-28-400-003.000-030, and ownership is fee simple. This is a rare opportunity to acquire a large, well-positioned tract of land in a thriving Indiana community.

Property profile
Verified
Property type Commercial real estate
Lot 208 ac (9,060,480 SF)
APN 45-12-28-400-003.000-030
UPID US31-1049030
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Roman Catholic Diocese Of Gary In · 8 yrs held
Roman Catholic Diocese Of Gary In
since 2017
1 recorded transaction
2017
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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