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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Automotive properties
1000 81st Ave Merrillville, IN 46410-5311
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US31-1270923
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1989
Construction
TYPE NOT SPECIFIED
Total area
11,124 SF
Lot
4.87 ac (212,181 SF)
APN
45-12-21-176-014.000-030
UPID
US31-1270923
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
-
Webb Hyundai Merrillville Car Dealership
-
Webb Hyundai Merrillville Service Auto Repair Shop
-
Webb Auto Electric Vehicle Charging Station - Merrillville Electric Vehicle Charging Station Car Dealer
-
16048 Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$640k
Owner & transaction history
1000 West Lincoln Highway Hold · 10 yrs held
1000 West Lincoln Highway Hold
since 2016
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$775,000
+27.2%
Apartment house (5+ units)
$640,000
+5.3%
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 Merrillville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merrillville 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
AUTO REPAIR, GARAGE
$610,000
Current use
RESTAURANT
$775,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$640,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$525,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$58 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$88,736
Tax year 2022
Assessed value
$3,787,100
Assessed 2023
Previous assessed
$1,699,300
+122.9% YoY
Effective rate
2.34%
On assessed value
Assessed land
$1,421,400
Assessed improvement
$2,365,700
Land market value
$1,421,400
Improvement market value
$2,365,700
Total market value
$3,787,100
Applied tax rate
30.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
11,124 SF
Lot
4.87 ac (212,181 SF)
APN
45-12-21-176-014.000-030
UPID
US31-1270923
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$610,000
RESTAURANT
Est. value
$775,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$640,000
RETAIL STORES
Est. value
$525,000
AUTO REPAIR, GARAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
4.87 ac
Current owner
From public records · entity-resolved
1000 West Lincoln Highway Hold
Individual
Mailing address
1000 W 81ST AVE, MERRILLVILLE, IN 46410-5311
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2016
$3,000,000
1000 West Lincoln Highway Hold
Trust 3926
Grant Deed
related
—
—
—
Trust 3926
—
Deed Of Trust
related
$1,000,000 · Fifth Third Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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