7905 Broadway

Office for Sale
Catylist Listing ID: 30639861
Building Size (RSF): 7,785 SF
Gross Building Area: See Agent
Sale Price: $1,195,000
Unit Price: $153.50 PSF
Property Use Type: Vacant/Owner-User
Class of Space: Class A
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 12/4/2021

Overview / Comments

This is one of the best redevelopment site opportunities to come available in Merrillville! The current Geisen Funeral Home building sits on a vast 3.61 acres site at the northeast corner of the high traffic stoplight intersection of Broadway (SR 51) and 80th Street, which is 1 block north of U.S. Highway 30 and less than 1 mile west of I-65.

This property is suitable for tear down and redevelopment or renovation and subdivision into 2 parcels and more for restaurants, hotels, retail, office or medical uses. The current building is 7,785 SF on the main level with a 1,485 SF apartment a 5,103 SF basement. The site features 414' of frontage on Broadway (S.R. 53) and 375' of frontage on 80th Place. All utilities and offsite drainage are in place. 2020 IDOT traffic counts on Broadway are 15,373 cars/day.

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Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Lake
Tax ID/APN: unknown
Area Description: Twin four story Class A office buildings are directly across 80th Place, Merrillville Corporate Center and Merrillville Corporate Lakes. Restaurants nearby include Gino’s, Portillo's, Panera, Outback, La Caretta Cantina and Asparagus. This site is within a 6 million+ square foot retail trade area surrounding Southlake Mall. Merrillville is the largest Town in the State of Indiana. 2 blocks west of the former 40 acre Radisson/Star Theatre/Twin Towers that have all been recently razed and is now ready for development.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,132 43,295 128,497
Median Age: 44.1 37.83 37.48
Households: 1,399 16,781 49,019

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