6200 Melton Road, Gary, IN 46403

$4,900,000
40,000
SqFt

Property Description

PRICE REDUCED! Fully Operating, 113 Room, Extended Stay Motel w/Full Kitchenettes for only $50K/room. Avg. 80% occupancy w/7-day rates at $350/week. Nearly 2-acre parcel that adjoins a newly developed intersection connecting US-20 and US-12. Part of the currently underway South Shore Line Double Track Project. Great location to attract guests. Daily Traffic Count: 13,958. 27 miles to downtown Chicago, Close to Indiana Dunes National Park & I-65, I-90, I-80/94. Near major trucking and logistics companies & within walking distance of Lake Michigan's sandy beaches in Gary's Miller Beach area. Recent upgrades include a new Firestone Brand Rubber Roof (w/20-year warranty), High Efficiency Hot Water Boiler, and a new black top parking lot. Investors should also consider options for full or partial condo conversions, senior living, and/or market rate apartment housing.

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Listing courtesy of Godwin Realty Company.

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