Hobart, IN
Commercial Real Estate Market Trends & Data

$273 Avg asking sale price
$257 Avg asking lease rate
19,018 SF Avg unit lease size
55,893 SF Avg building size for sale
7.18% Average cap rate

Hobart's Demographic Profile

Hobart has 11,384 households and a median income of $67,868, providing context for rent absorption and tenant demand across retail and multifamily assets. A -1% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 28,299
# Households 11,384
Median age 40
Median household income $67,868
Avg household size 2.0
Renter-occupied housing units 3,009
5-year population change -1%

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

↻ Updated Monthly

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Nearby Retail Markets Avg Cost/SF Typical Size
Hobart $599 139,815 SF
Wheeler $113 5,744 SF
Lake Station $157 8,987 SF
Merrillville $413 122,042 SF
Portage $181 6,070 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Merrillville $137 4,471 SF 8.09%
Gary $64 7,332 SF 10.04%

Commercial Properties For Sale in Hobart

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

Century Plaza

Merrillville, IN 46410

  • 18,215 SF Retail Building
  • 6.76% Cap Rate
  • $6,270,000
For Sale

7205 Broadway

Merrillville, IN 46410

  • 4,812 SF Retail Building
  • $1,650,000
For Sale

409 N Wisconsin St

Hobart, IN 46342

  • 4,764 SF Office Building
  • $499,000
For Sale

Carolina Ridge

Gary, IN 46409

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

200 Main St

Hobart, IN 46342

  • 7,880 SF Retail Building
  • $2,300,000
For Sale

733 / 739 41st Ave

Gary, IN 46409

  • 3,822 SF Flex Building
  • $54,900

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

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Nearby Commercial Markets

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

Commercial Markets Avg Cost/SF Average Size
Hobart $273 55,893 SF
Wheeler $113 5,744 SF
Lake Station $1,246 8,528 SF
Merrillville $271 62,232 SF
Portage $931 26,262 SF

Regional Demographic Comparison

This comparison places Hobart 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 Hobart or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Hobart 28,299 11,384 40 $67,868 2 3,009 -1%
Wheeler 117 47 40 $63,000 3 13 -5%
Lake Station 12,856 4,818 38 $52,035 3 1,570 1%
Portage 39,023 15,206 40 $67,500 3 4,608 2%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Hobart, 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 Hobart

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

Hobart 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 Hobart?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Hobart. 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 Hobart?

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

How does Hobart compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Hobart. 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 Hobart acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Hobart, 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.

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