Lake Station, IN
Commercial Real Estate Market Trends & Data

$171 per SF Avg asking sale price
$16 per SF Avg asking lease rate
126,234 SF Avg unit lease size
9,346 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]}}

↻ Updated Monthly

{{marketTabDescriptions[activeMarketTab]}}

Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Gary $101 15,175 SF 17.34%
Merrillville $119 14,046 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
Lake Station $157 8,987 SF
Gary $193 7,231 SF
Hobart $600 140,135 SF
Portage $213 6,373 SF
Merrillville $435 122,420 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Gary $83 8,800 SF 10.04%
Portage $66 104,254 SF 7.05%
Merrillville $190 4,471 SF 8.09%
Porter $80 64,813 SF 7.05%
Schererville $156 5,915 SF 7.24%

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

3700 Montgomery St

Hobart, IN 46342

  • 0.66 AC Lot
  • 1 Commercial Lot
  • $350,000
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

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

Commercial Property Valuation: Methods and Calculator
Commercial Property Valuation: Methods and Calculator
Use our instant calculator to estimate your property's value, then explore the three core valuation methods, quick-estimate tools, and common mistakes to avoid.
What Is a Cap Rate?
What Is a Cap Rate?
How To Calculate This Critical CRE Investment Metric and Why It Matters
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.
Most Profitable Cities for Multifamily Investments in 2026
Most Profitable Cities for Multifamily Investments in 2026
Data-driven rankings of U.S. cities based on cap rates, pricing, inventory, and renter demand.
How to Buy a Car Wash
How to Buy a Car Wash
Unlock the potential of car wash investments with expert insights on types, costs, and strategies
How to Buy a Church Building
How to Buy a Church Building
Learn the essential steps for evaluating, purchasing, and converting religious facilities into profitable investments
Cash on Cash Return
Cash on Cash Return
Learn How Cash on Cash Return Can Optimize Your Real Estate Investments
Office Build-Out Types: Shell to Full Space
Office Build-Out Types: Shell to Full Space
A breakdown of every office build-out condition, who typically pays for one, and what to confirm before signing a lease.

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 $171 9,346 SF
Gary $108 12,514 SF
Hobart $269 56,150 SF
Portage $420 38,233 SF
Merrillville $242 57,584 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%

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 Market Trends