Gary, IN Specialty Properties for Sale

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31 properties

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Updated: Mar 2

School Building With Outbuilding

2460 Vermillion Street, Lake Station, IN 46405

$995,000

37,624 sqft 4.44 AC lot

37,624‑square‑foot one‑story main building
Separate 6,960‑square‑foot outbuilding
4.44‑acre property at 2460 Vermillion Street
Current tenant is the Boys and Girls Club
Public water and public sewer service

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Updated: May 26

Commercial Specialty Property

722 E Ridge Road, Gary, IN 46409

$50,000

1,040 sqft 0.12 AC lot

Commercial property available in Gary, with zoning to be verified for allowed businesses
Off‑street parking
Built in 1956
Public water source

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Walgreens Absolute NNN Property

2500 Grant Street, Gary, IN 46404

$2,818,740

14,820 sqft

Walgreens property with tenant-funded taxes, insurance, maintenance, and structural repairs.

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See what stands out in Lake County

We check every for-sale listing in the county against comparable properties across the country. Most price about where you would expect. A few are worth a second look.

We check every listing here. A few are worth a second look.

Cap Rate available after sign in

NOI available after sign in

Local Demand available after sign in

One-Story School Property

2460 Vermillion St, Lake Station, IN 46405

$995,000

37,624 sqft 4.40 AC lot

Former school campus with an accessory building occupied by the Boys and Girls Club.

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Turnkey School/Special Purpose Building

1150 W 49th Ave, Gary, IN 46408

$499,000

11,553 sqft 12.00 AC lot

Operational 11,553 SF building on 12+ acres in Gary.

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Church Facility with Banquet Space

525 W 11th Ave, Gary, IN 46402

$195,000

7,400 sqft

Flexible commercial facility with worship, meeting, and rear banquet areas requiring cosmetic updates.

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Two-Tenant Medical Center

4802 N. Broadway, Gary, IN 46408

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13,125 sqft

Two-suite healthcare property with established occupancy and additional leasable space.

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Dollar General NNN Investment

9269 West Taft Street, Merrillville, IN 46410

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9,014 sqft

For sale NN Dollar General investment with a specialty NNN structure and corporate-backed tenant in Merrillville, Indiana.

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Specialty Property

731 E 41st Ave, Gary, IN 46409

$54,900

3,822 sqft

Specialty property with a 1947 construction date.

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Three-Story Church Facility

4410 CENTRAL AVE, Lake Station, IN 46405

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17,505 sqft 0.65 AC lot

Religious facility with an on-site daycare, event space, kitchen, and recent building upgrades.

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Specialty Commercial Property

722 E Ridge Rd, Gary, IN 46409

$50,000

1,040 sqft

For-sale specialty commercial property in Gary, Indiana, with zoning requiring verification for permitted business use.

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Former Restaurant Space Available

1441 e 82nd Ave, Merrillville, IN 46410

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3,298 sqft

Former restaurant space in Northwest Indiana with highway access.

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Church Building

262 Gerry St, Gary, IN 46406

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6,680 sqft

Existing facility with a cleaned interior and restoration work remaining.

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Raw Land Zoned B-5

3800 W 5th Ave, Gary, IN 46406

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7.35 AC lot

Undeveloped raw land totaling about 7.35 acres, zoned B-5 for commercial and industrial-adjacent uses.

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Three-Parcel Land Portfolio

1152 Hovey Street, Gary, IN 46406

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14,985 sqft

For sale investor portfolio of three residential land lots at 1152 Hovey Street, Gary, IN 46406.

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Church Property with Fellowship Hall

4353-63 Massachusetts Street, Gary, IN 46409

$205,000

Updated religious facility with sanctuary, offices, classroom, fellowship hall, and paved parking.

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Specialty Commercial Building

912-18 Aetna Street, Gary, IN 46403

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Affordable specialty building near the South Shore train station, positioned just off Dunes Highway.

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Church Facility with Expansion Space

2524-34 W 11th Avenue, Gary, IN 46404

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Main-level space is paired with an unfinished basement for storage, expansion, or future build-out.

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Residential Land Lots

725 W 7th Ave, Gary, IN 46402

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Four residential lots are being offered for sale at a single property offering.

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Hopebridge Medical Center with Net Lease

8409 Merrillville Rd, Merrillville, IN 46410

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Newly constructed outpatient facility serving pediatric therapy and behavioral health needs under a net lease structure.

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Church Redevelopment Corner Lot

6807 W 25th Ave, Gary, IN 46406

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For-sale property on a prime corner lot exceeding one acre, previously used as a church site.

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Church Property with Existing Furnishings

2173-77 Marshall Pl, Gary, IN 46404

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Former house of prayer includes pews, a baptismal bath, and office, with equipment and furnishings remaining on site.

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Fenced Specialty Commercial Property

1301 Virginia St, Gary, IN 46407

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Large-lot commercial property with fenced parking and flexible space for specialty commercial operations.

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Church Facility with Private Parking

3121 W 11th Ave, Gary, IN 46404

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Corner-lot religious facility with a multi-room main floor, basement kitchen, and enclosed private parking.

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Gary, IN Specialty Properties Market Trends and Statistics

Explore 72 specialty properties for sale in Gary, IN, showcased through 31 active listings on our real estate platform. These investment opportunities span a total of 179,530 square feet of properties for sale, with an estimated market value of $5,862,640.

Sale prices for properties in Gary, IN start at $50,000, averaging $651,404, and reaching up to $2,818,740 — 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 124K

Population Growth (5Y) -7.7%

Median Household Income $47,747

College Educated 15.8%

High-Yield Neighborhoods for Investment

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

Neighborhood	Average Price
46403	$42K
46409	$90K
46402	$97.5K
46408	$499K
46404	$1.4M

Taxes & Financing

Tax Rate (average for all types) 7.93%

Property Tax per SF $79.79 per SF

Tax Rate vs County Average 6.93 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

Office

Property Size Breakdown

The majority of commercial real estate listings in Gary fall within the 50,000 to 100,000 square foot range.

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