Lake Station, IN Restaurants for Sale

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14 properties

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Updated: Jul 3

Retail Strip Center with Drive-Thru

399 E 81st Ave, Merrillville, IN 46410

$6,270,000

18,215 sqft 1.64 AC lot

Century Plaza is a 100% fee simple interest retail strip center in Merrillville, IN, built in 2003.
18,215 SF retail center on approximately 1.64 acres, currently 100% occupied.
Anchored by Panera Bread with a dedicated drive‑thru.
Tenant roster includes nationally recognized brands such as Qdoba and Plato's Closet.
Located at the intersection of East Lincoln Highway and Broadway with combined traffic count over 87,000 vehicles per day.

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This listing looks promising.

Here's a quick look at some key insights for

399 E 81st Ave, Merrillville, IN 46410

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Est. Cap Rate

5.7%
NOI ÷ price
Est. NOI

$356K
Annual
Price @ 7% Cap

$5.08M
Suggested

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Updated: Oct 24, 2025

Turn-Key Tavern with Patio

4489 Broadway, Gary, IN 46409

$205,000

1,270 sqft 0.13 AC lot

1,270 SF tavern on a 0.13‑acre lot; building originally built in 1930
Seating for approximately 50 patrons: 15 stools at the counter, 20 inside, and 15 on the outside patio
Outdoor patio includes two tables and bench seating; small kitchen is available for expanding menu options
Entertainment and revenue sources include music, dart board, and pull tab gambling, plus multiple flat‑screen TVs
Year‑round climate control with central forced‑air natural gas heat and HVAC; includes 2 restrooms

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Turn-Key Bar and Restaurant

2808 Dekalb Street, Lake Station, IN 46405

$200,000

3,894 sqft 0.22 AC lot

Turn-key bar and restaurant sale includes gaming, tobacco, and liquor licenses plus kitchen and bar equipment.

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Turnkey Restaurant with Liquor License

3634 Central Avenue, Lake Station, IN 46405

$350,000

3,250 sqft 0.08 AC lot

Fully equipped, remodeled restaurant with a 3-way liquor license.

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Merrillville Development Site For Sale

555 E 84th Drive, Merrillville, IN 46410

$375,000

2.84 AC lot

2.84 acre development site near U.S. 30 and Broadway.

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Turn-Key Tavern Business Opportunity

4489 Broadway, Gary, IN 46409

$205,000

1,270 sqft 0.13 AC lot

Fully operational tavern for sale with seating for 50 patrons.

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Restaurant with Drive-Thru Window

1441 E 82nd Ave, Merrillville, IN

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3,298 sqft 1.12 AC lot

Restaurant with drive-thru, high visibility, repurposing opportunity.

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Bar and Restaurant with Commercial Kitchens

5004-5010 Broadway, Gary, IN 46408

$285,000

Two-building bar and grill concept offers two kitchens, three bathrooms, and multiple updates throughout, with liquor, catering, and gaming licenses.

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Brick Salon and Retail Units

4481 Broadway, Gary, IN 46408

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Two brick commercial units, including a move-in-ready upper salon with private suites and shampoo stations.

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Former Restaurant Space Available

1441 e 82nd Ave, Merrillville, IN 46410

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Restaurant space with drive-thru, high visibility, repurposing opportunity.

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Renovated Pizza Shop and Dining

720 N Lake St, Gary, IN 46403

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Completely renovated pizza shop with a front service window, heated dining area, and an included liquor license.

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Mixed-Use Retail and Apartment Building

4400 Liverpool Road, Lake Station, IN 46405

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Mixed-use building previously used as a retail store and pizza restaurant, with an attached 3-bedroom apartment.

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Convenience Store and Car Wash

3101 W 5th Avenue, Gary, IN 46406

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Recently renovated convenience store with Mobil gas station, upgraded car wash, and LED lighting, plus an attached empty land parcel.

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Restaurant and Bar with Paved Parking

1233 Central Ave, Lake Station, IN 46405

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Turnkey bar and grill with remodeled interior, rubber roof, two A/C units, and rear paved parking area.

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Based on your search, we've compiled 33 Potential Opportunities for your consideration. Besides 14 Active listings in Lake Station, IN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 11 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Arby's Restaurant in Hobart, Indiana

4651 W 61st Ave, Hobart, IN 46342

$2,373,000

2,440 sqft

Absolute net Arby's restaurant for sale near Chicago.

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Turnkey Restaurant with Event Patio

840 S Broad Street, Griffith, IN 46319

$999,970

5,564 sqft 1.60 AC lot

Turnkey, fully renovated restaurant with an outdoor event-ready patio, private party room, and included on-site kitchen systems.

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Equipped Restaurant, Bar, or Retail

213 N Broad St, Griffith, IN 46319

$595,000

0.14 AC lot

Fully equipped restaurant, bar, or retail space in prime location.

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Turn-Key Restaurant Bistro

54 Main St, Hobart, IN 46342

Contact for pricing

Fully furnished bistro with scenic outdoor dining and river-front views, plus upstairs living space.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Merrillville Commercial Lot For Sale

0-Lot 12 Grant Street, Merrillville, IN 46410

$79,900

1.50 AC lot

Prime 1.5-acre commercial lot in growing area.

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Commercial Lot in Water Tower Park

0-Lot 11 Grant Street, Merrillville, IN 46410

$89,900

1.50 AC lot

Prime commercial land in a growing area near US 30.

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Merrillville Land on US 30

5103 E Lincoln, Merrillville, IN 46410

$749,900

5.15 AC lot

5+ acres on US 30 ready for development.

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Commercial Land Lot on Major Road

6520 W Lincoln Highway, Schererville, IN 46375

$350,000

2.29 AC lot

Build-ready commercial lot with 250+ feet of frontage on Route 30 and surveyed site for a straightforward development start.

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Off-Market Properties in Lake Station, IN

Consider similar Off-Market properties in Lake Station, IN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

RESTAURANT

2236 Ripley St, Lake Station, IN 46405

Value Estimation by Request

1,600 sqft 0.07 AC lot

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RESTAURANT

2236 Ripley St, Lake Station, IN 46405

Value Estimation by Request

0.10 AC lot

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RESTAURANT

2203 Ripley St, Lake Station, IN 46405-1165

Value Estimation by Request

4,265 sqft 0.80 AC lot

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RESTAURANT

3446 Central Ave, Lake Station, IN 46405-2273

Value Estimation by Request

2,524 sqft 0.71 AC lot

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RESTAURANT

2433 Ripley St, Lake Station, IN 46405-2301

Value Estimation by Request

738 sqft 0.47 AC lot

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RESTAURANT

2345 Ripley St, Lake Station, IN 46405-2325

Value Estimation by Request

7,440 sqft 0.69 AC lot

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RESTAURANT

1495 Ripley St, Lake Station, IN 46405-1157

Value Estimation by Request

5,507 sqft 1.50 AC lot

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RESTAURANT

3420 Central Ave, Lake Station, IN 46405-2273

Value Estimation by Request

3,228 sqft 0.66 AC lot

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RESTAURANT

2661 Decatur St, Lake Station, IN 46405-1462

Value Estimation by Request

0.07 AC lot

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RESTAURANT

2661 Decatur St, Lake Station, IN 46405-1462

Value Estimation by Request

0.04 AC lot

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Lake Station, IN Restaurants Market Trends and Statistics

Explore 25 restaurants for sale in Lake Station, IN, showcased through 14 active listings on our real estate platform. These investment opportunities span a total of 31,197 square feet of properties for sale, with an estimated market value of $7,890,000.

Sale prices for restaurant properties in Lake Station, IN start at $200,000, averaging $1,127,142, and reaching up to $6,270,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 12K

Population Growth (5Y) +0.5%

Median Household Income $57,005

College Educated 13.0%

High-Yield Neighborhoods for Investment

Identify Lake Station submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
46405	$275K

Taxes & Financing

Tax Rate (average for all types) 4.46%

Property Tax per SF $72.47 per SF

Tax Rate vs County Average 1.39 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Lake County

New Delisted

Total CRE Inventory on Market (SF)

Average Property Price per SF

For-sale pricing trends across core commercial property types in Lake County

Retail

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Lake Station, IN Restaurants for Sale

399 E 81st Ave, Merrillville, IN 46410

4489 Broadway, Gary, IN 46409

2808 Dekalb Street, Lake Station, IN 46405

3634 Central Avenue, Lake Station, IN 46405

555 E 84th Drive, Merrillville, IN 46410

4489 Broadway, Gary, IN 46409

1441 E 82nd Ave, Merrillville, IN

5004-5010 Broadway, Gary, IN 46408

4481 Broadway, Gary, IN 46408

1441 e 82nd Ave, Merrillville, IN 46410

720 N Lake St, Gary, IN 46403

4400 Liverpool Road, Lake Station, IN 46405

3101 W 5th Avenue, Gary, IN 46406

1233 Central Ave, Lake Station, IN 46405

Opportunities in Nearby Cities

4651 W 61st Ave, Hobart, IN 46342

840 S Broad Street, Griffith, IN 46319

213 N Broad St, Griffith, IN 46319

54 Main St, Hobart, IN 46342

Potential Development Sites for Consideration

0-Lot 12 Grant Street, Merrillville, IN 46410

0-Lot 11 Grant Street, Merrillville, IN 46410

5103 E Lincoln, Merrillville, IN 46410

6520 W Lincoln Highway, Schererville, IN 46375

Off-Market Properties in Lake Station, IN

2236 Ripley St, Lake Station, IN 46405

2236 Ripley St, Lake Station, IN 46405

2203 Ripley St, Lake Station, IN 46405-1165

3446 Central Ave, Lake Station, IN 46405-2273

2433 Ripley St, Lake Station, IN 46405-2301

2345 Ripley St, Lake Station, IN 46405-2325

1495 Ripley St, Lake Station, IN 46405-1157

3420 Central Ave, Lake Station, IN 46405-2273

2661 Decatur St, Lake Station, IN 46405-1462

2661 Decatur St, Lake Station, IN 46405-1462

Lake Station, IN Restaurants Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Total CRE Inventory on Market (SF)

Average Property Price per SF

Retail

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