Listing provided courtesy of Kirk & Company Your Home SoldNorthwest Indiana MLSas Distributed by MLSGrid- MLS# 838821MLS Provider

508 S Lake StreetGary, IN 46403

Commercial · 720 Sq. ft. | 0.06 Acres
$89,900 Active

508 S Lake Street Overview

Time on Site:
47 days
Visits:
0

ATTENTION SMALL BUSINESS OWNERS, INVESTORS & CONTRACTORS... OPPORTUNITY IS KNOCKING! *Attention CREATE MY OWN SPACE SMALL BUSINESS OWNERS - Entrepreneurs, Investors, Barber / salon owner, Nail tech / esthetician, Insurance agent / mortgage broker, Boutique owner, Startup service business* Stop paying rent...own your space and build it YOUR way-------**Attention TO ALL OF THE VALUE - ADD INVESTORS IN NWI - Small commercial investors, Landlords expanding into mixed-use, Fix & hold investors** Buy this discounted space, Renovate it, and then Lease it out at higher rate, Refinance or hold for cash flow This is an Under market value + forced appreciation opportunity.--------*** LOOKING FOR OPPORTUNITY? CONTROL? UPSIDE? Well this is your Blank Canvas Business Opportunity! You can Own Your Own Location for less than rent! In fact...Why keep paying rent when you can OWN your own space and build equity at the same time? This approx. 720 sq ft retail/office space is priced BELOW market to reflect needed updates--giving you the chance to customize it EXACTLY how you want it while creating instant upside. Perfect for a barber shop, salon, boutique, insurance office, tax service, or any service-based business looking for an affordable location with long-term control. Investors--this is your chance to step into a value-add commercial property with strong income potential after renovations. Contractors--turn your skills into equity and design your ideal workspace from the ground up. Opportunities like this are getting harder to find, especially at an entry-level price point. Whether you're looking to launch, expand, or invest, this is a blank canvas with serious potential. Call today for details and start turning this space into your next income-producing asset!

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508 S Lake Street Facts & Features

  • Type Commercial
  • Sq. ft. 720
  • Price/Sq.ft. $125
  • Lot 0.06 Acres

Details

General

Building Information

  • Year Built: 1948

Location/Region

  • County Or Parish: Lake
  • Township: Calumet

Tax Information

  • Tax Annual Amount: 1045
  • Tax Year: 2024

General Information

  • Listing Terms: Cash,Other
  • Parcel Number: 450906401018000004
  • Property Sub Type: Retail
  • Property Type: Commercial Sale
  • Special Listing Conditions: Standard

Interior

Building Interior

  • Building Area Source: Assessor

General Information

  • Appliances: None
  • Basement: false
  • Building Features: Other,Commercial Park Location,Acoustical Ceiling(s)
  • Electric: Other
  • Heating: Forced Air
  • Living Area: 720

Exterior

Parking Information

  • Parking Features: Off Street,On Street,Concrete,Alley Access
  • Parking Total: 3

Lot Information

  • Additional Parcels: false
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 2700.72
  • Water Source: Public

Waterfront/View

  • Waterfront: false

General Information

  • Sewer: Public Sewer
  • Utilities: Electricity Available,Other,Natural Gas Available

508 S Lake Street Neighborhood

Community

46403 (Gary) Demographics

41
Median Age
1,244
Population Density (per sq. mile)
30%
College Educated
$37,927
Estimated Median Income
2,732
Estimated Total Home Owners
2,802
Estimated Total Renters
49% / 51%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

508 S Lake Street Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

508 S Lake Street Market Data

Based on the last 30 days in this zip code

$268,418
Average List Price
$146
Average Price per Square Foot
13
Properties Sold
84
Average Days on Market
48
Properties for Sale
Calculations provided by Reliance Network

508 S Lake Street History

Date Event Value Agent
6/29/2026Source: Northwest Indiana MLS Status Change
Active
6/15/2026Source: Northwest Indiana MLS Status Change
Pending
5/13/2026Source: Northwest Indiana MLS Added to Database
May 13, 2026