Gary, IN
Commercial Real Estate Market Trends & Data

$116 Avg asking sale price
$14 Avg asking lease rate
46,645 SF Avg unit lease size
11,304 SF Avg building size for sale
9.48% Average cap rate

Gary's Demographic Profile

Gary has 35,317 households and a median income of $34,205, providing context for rent absorption and tenant demand across retail and multifamily assets. A +6% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 85,722
# Households 35,317
Median age 39
Median household income $34,205
Avg household size 2.0
Renter-occupied housing units 18,349
5-year population change +6%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Gary, IN

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Gary $111 12,540 SF 17.34%
Merrillville $120 19,786 SF 17.34%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Gary $93 21,258 SF 6.18%
Portage $110 5,670 SF 7.24%
Nearby Retail Markets Avg Cost/SF Typical Size
Gary $193 7,231 SF
Lake Station $157 8,987 SF
Hobart $851 166,978 SF
Merrillville $519 141,836 SF
Portage $197 6,135 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Gary $64 7,332 SF 10.04%
Merrillville $137 4,471 SF 8.09%

Commercial Properties For Sale in Gary

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

DaVita | 25+yr Operating History

Gary, IN 46408

  • 13,125 SF Office Building
  • 8.00% Cap Rate
  • $2,893,000
For Sale

5490 Broadway Ave

Merrillville, IN 46410

  • 22,000 SF Office Building
  • 17.34% Cap Rate
  • $674,900
For Sale

222 E Ridge Rd

Griffith, IN 46319

  • 5,312 SF Retail Building
  • $395,000
For Sale

1164-1170 Connecticut St

Gary, IN 46407

  • 13,400 SF Multifamily
  • 10.04% Cap Rate
  • $1,050,000
For Sale

1150 W 49th Ave

Gary, IN 46408

  • 11,553 SF Specialty
  • $499,000
For Sale

Carolina Ridge

Gary, IN 46409

  • 0.25 AC Lot
  • 1 Commercial Lot
  • $45,000

Average Price For Sale

↻ Updated Monthly

Average Size For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

Where Multifamily Asking Prices Are Rising and Falling in 2026
Where Multifamily Asking Prices Are Rising and Falling in 2026
LoopNet listing data from November 2025 through March 2026 reveals a supply-driven split in multifamily asking prices across U.S. markets, and what it means for investors deciding where to buy.
Online Auctions vs. Traditional Sales
Online Auctions vs. Traditional Sales
Learn how you can strategically use the two transaction methods to achieve stronger outcomes, whether that's a faster deal, maximized sales price, or a low risk of fallouts.
What Are Leasehold Improvements?
What Are Leasehold Improvements?
A complete guide to leasehold improvements, including what qualifies, who owns them, how they affect taxes, and how to maximize their value.
Straight-Line Depreciation in Commercial Real Estate
Straight-Line Depreciation in Commercial Real Estate
Understand how straight-line depreciation works, when to use it, and how it affects your after-tax returns across every stage of ownership.
Small vs. Large Multifamily Real Estate Investing
Small vs. Large Multifamily Real Estate Investing
Compare financing, cash flow, risk, and exit options so you can choose the right property size for your goals.
How to Buy a Duplex
How to Buy a Duplex
Breaking down every stage of buying a duplex, from budgeting and financing to agent selection and market analysis, ensuring you make an informed investment decision.
Spec Suites: A Powerful Tool in the Battle To Fill Office Space
Spec Suites: A Powerful Tool in the Battle To Fill Office Space
New Space, Quick Occupancy, No Construction
Force Majeure Clause
Force Majeure Clause
Understand how force majeure clauses work in commercial real estate leases, including what they cover, when they apply, and how to draft them to manage risk.

Nearby Commercial Markets

Comparing nearby markets helps investors see whether Gary pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Gary $116 11,304 SF
Lake Station $95 9,530 SF
Hobart $250 57,608 SF
Griffith $120 6,164 SF
Merrillville $255 58,718 SF

Regional Demographic Comparison

This comparison places Gary alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Gary or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Gary 85,722 35,317 39 $34,205 2 18,349 6%
Lake Station 12,856 4,818 38 $52,035 3 1,570 1%
Hobart 28,299 11,384 40 $67,868 2 3,009 -1%
Griffith 15,595 6,431 39 $68,415 2 2,082 -1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Gary, IN and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Gary

View All Commercial Real Estate For Sale in Gary
Is Gary a good market for a first-time commercial real estate investor?

Gary offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Gary?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Gary. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Gary?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Gary. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Gary compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Gary. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Gary acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Gary, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

Nearby Market Trends