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Property profile & analytics
OFF-MARKET
Estimated value
$2,030,000
Office Spaces
10 Joliet St, Schererville, IN 46375-2011
Individually Owned
1-yr Hold
Free & Clear
Property ID
US31-3505602
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2002
Construction
WOOD
Total area
41,315 SF
Lot
2.72 ac (118,657 SF)
Zoning code
R3
APN
45-11-15-101-001.000-036
UPID
US31-3505602
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Schererville Building Department City Government Office
-
Schererville Town Hall City Hall
-
Schererville Town Administration City Hall City Government Office
-
Schererville Clerk-Treasurer Department City Clerk'S Office
-
Schererville Water & Sewer Water Utility Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.63M
Blend (final)
Blend
$2.03M
Owner & transaction history
Town Of Schererville · 1 yrs held
Town Of Schererville
since 2024
6 recorded transactions
Zoning & alternative use
R3 · Schererville, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.1M
+19.2%
Warehouse, storage
$3.1M
+17.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Schererville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Schererville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,630,000
Current use
RETAIL STORES
$3,135,000
Change: +19% · Conversion: Easy
WAREHOUSE, STORAGE
$3,080,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.83M – $2.23M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$49 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Applied tax rate
36.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2002
Construction
WOOD
Heating
NONE
Stories
2
Total area
41,315 SF
Lot
2.72 ac (118,657 SF)
Zoning code
R3
APN
45-11-15-101-001.000-036
UPID
US31-3505602
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R3 · Schererville, IN
Zoning R3 · permitted uses
R3 · Schererville, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Schererville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.6M
RETAIL STORES
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$3.1M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Construction
WOOD
Heating
NONE
Stories
2
Lot
2.72 ac
Current owner
From public records · entity-resolved
Town Of Schererville
Individual
Free & Clear · 1 yrs held
Mailing address
10 E JOLIET ST, SCHERERVILLE, IN 46375-2011
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2024
—
Town Of Schererville
Schererville Building Corporation
Re-recorded Document
related
—
Aug 29, 2024
—
Town Of Schererville
Schererville Building Corporation
Intrafamily Transfer
related
—
Jul 5, 2016
—
Town Of Schererville
Illiana Motor Speedway INC
Warranty Deed
related
—
May 27, 2004
—
Town Of Schererville Lake Cnty In
Katic,marco
Quit Claim Deed
related
—
—
—
Schererville Building Corp
—
Deed Of Trust
related
$2,200,000 · Sand Ridge Bank
—
—
Schererville Building Corp
—
Deed Of Trust
related
$6,726,000 · First Financial Bank (te)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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