Lake Station, IN
Commercial Real Estate Market Trends & Data

$1,246 Avg asking sale price
$17 Avg asking lease rate
117,723 SF Avg unit lease size
8,528 SF Avg building size for sale
7.11% Average cap rate

Lake Station's Demographic Profile

Lake Station has 4,818 households and a median income of $52,035, 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 12,856
# Households 4,818
Median age 38
Median household income $52,035
Avg household size 3.0
Renter-occupied housing units 1,570
5-year population change +1%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Lake Station, IN

↻ Updated Monthly

{{marketTabDescriptions[activeMarketTab]}}

Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Gary $77 26,977 SF 6.18%
Portage $111 5,695 SF 7.24%
Nearby Retail Markets Avg Cost/SF Typical Size
Lake Station $157 8,987 SF
Gary $120 8,733 SF
Hobart $599 139,815 SF
Portage $181 6,070 SF
Wheeler $113 5,744 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 Lake Station

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

5900 Miller Ave

Gary, IN 46403

  • 3,560 SF Retail Building
  • 7.47% Cap Rate
  • $750,000
For Sale

2460 Vermillion St

Lake Station, IN 46405

  • 37,624 SF Specialty
  • $995,000
For Sale

800 E Ridge Rd

Gary, IN 46409

  • 2,067 SF Retail Building
  • $99,900
For Sale

IOS- Industrial Trailer Parking

Gary, IN 46403

  • 22.45 AC Lot
  • 1 Industrial Lot
  • $9,900,000

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

5 Key Questions About Note/Loan Sales, Answered
5 Key Questions About Note/Loan Sales, Answered
An Expert Broker Provides Guidance on Advantages, Disadvantages and Expected Returns
What is a Multifamily Home?
What is a Multifamily Home?
What is a multifamily home? Clear definition, types, how small assets differ from large for financing, metrics, plus basics of zoning, fair housing, and risks.
The Best Cities for Office Investing in 2026
The Best Cities for Office Investing in 2026
A data-driven ranking of 50 U.S. markets scored on yield, inventory, office employment trends, and building quality.
Understanding Your Property’s Walk Score
Understanding Your Property’s Walk Score
Learn about the Amenities, Data and Calculations Used to Generate Your Property’s Walk Score
Loan to Value
Loan to Value
Breaking down the loan to value concept, its calculations, and strategic financing options to enhance investment decisions in commercial real estate.
Internal Rate of Return
Internal Rate of Return
Clarifying IRR concepts, outlines calculation methods, and examining its application in commercial real estate to guide your investment decisions.
Operating Expenses in CRE
Operating Expenses in CRE
Learn how operating expenses affect net operating income and property value, how to benchmark your costs against market standards, and proven strategies to reduce expenses across different property types and lease structures.
Land Loans 101
Land Loans 101
Key Considerations When Applying for a Land Loan

Nearby Commercial Markets

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

Commercial Markets Avg Cost/SF Average Size
Lake Station $1,246 8,528 SF
Gary $565 12,578 SF
Hobart $273 55,893 SF
Portage $931 26,262 SF
Wheeler $113 5,744 SF

Regional Demographic Comparison

This comparison places Lake Station 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 Lake Station or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Lake Station 12,856 4,818 38 $52,035 3 1,570 1%
Gary 85,722 35,317 39 $34,205 2 18,349 6%
Hobart 28,299 11,384 40 $67,868 2 3,009 -1%
Portage 39,023 15,206 40 $67,500 3 4,608 2%
Wheeler 117 47 40 $63,000 3 13 -5%

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

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

Lake Station 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 Lake Station?

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

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

How does Lake Station compare to nearby commercial real estate markets?

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

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Lake Station, 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 Cities
Commercial Market Reports