Subway 3400 Grant St 1,376 SF Retail Building Gary, IN 46408 $300,000 ($218.02/SF)

3400 Grant Street, Gary, Indiana 46408 is a single-tenant retail building currently built for a Subway restaurant. The Subway location functions as a fast-casual quick-serve restaurant operated under franchise ownership. The site is located along Grant Street, a commercial corridor in the city of Gary and serves local residents and commuter traffic. Subway restaurant can be available as part of a sale, or they can vacate to facilitate an owner operator.
Investment Overview
This asset represents a retail net lease investment with an operating franchise tenant. It provides potential stable rental income for an investor focused on retail cash flow and can appeal to net-lease buyers targeting franchise-leased properties. The property could also interest an owner-operator seeking an established restaurant location. Future options, including redevelopment or re-use, should be evaluated in context of local zoning and market trends.
Location and Market
The property is positioned on Grant Street, which is a primary commercial corridor in Gary with visibility to local and regional traffic. The corridor supports a variety of retail, service, and convenience uses that benefit from everyday customer demand. The location’s context within this urban commercial fabric provides access to surrounding residential neighborhoods, nearby traffic generators, and established retail anchors.
Regional Context
Gary is a city in Lake County, Indiana. It is part of the broader Northwest Indiana region with a diversified commercial and industrial background. The surrounding area along and near Grant Street includes a mix of retail and service businesses that contribute to sustained customer traffic for quick-serve and fast-casual dining locations. Gary’s local population and surrounding economic activity support demand for restaurant and convenience-oriented retail uses. The city’s industrial employment centers and transportation links contribute to regional connectivity and local economic activity.
Investment Highlights
The national brand recognition associated with the franchise tenant supports potential investor appeal and demand from customers. The property benefits from direct frontage on a well-traveled urban corridor with convenient customer access and parking typical of quick-serve restaurant sites. Its location in a mixed-use commercial context reinforces demand for quick-serve and convenience-oriented retail.
Key Considerations
Confirm lease specifics including the lease term remaining, base rental rate, rent escalations, and landlord responsibilities. Verify the property’s zoning designation and allowable uses with the City of Gary planning and zoning authority. Obtain market comparables, current traffic counts, and radius demographic data to support valuation and cap rate underwriting. Contact the Lake County Assessor’s office for parcel and tax details and confirm assessment and tax liability before finalizing underwriting.
Next Steps for Listing Completion
Input detailed lease data including term remaining, rental structure, and tenant obligations. Add tax parcel identification and current assessor valuation along with site area and building size. Include recent on-site photography and attach floor plans. Provide traffic counts and radius demographic data to support investment underwriting.