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Property profile & analytics
OFF-MARKET
Estimated value
$2,630,000
Outlet malls
101 Lincoln Hwy Merrillville, IN 46410
Individually Owned
3-yr Hold
Free & Clear
Property ID
US31-1109580
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1974
Construction
TYPE NOT SPECIFIED
Total area
112,059 SF
Lot
8.75 ac (381,150 SF)
APN
45-12-21-426-002.000-030
UPID
US31-1109580
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.30M
Blend (final)
Blend
$2.63M
Owner & transaction history
Merrillville Broadway Centre Assc L · 3 yrs held
Merrillville Broadway Centre Assc L
since 2023
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$2.63M
Range $2.37M – $2.89M · ±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
$23 / 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
$75,376
Tax year 2022
Assessed value
$4,178,800
Assessed 2023
Previous assessed
$3,608,300
+15.8% YoY
Effective rate
1.80%
On assessed value
Assessed land
$1,477,700
Assessed improvement
$2,701,100
Land market value
$1,477,700
Improvement market value
$2,701,100
Total market value
$4,178,800
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1974
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
112,059 SF
Lot
8.75 ac (381,150 SF)
APN
45-12-21-426-002.000-030
UPID
US31-1109580
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
Building & site characteristics
From public records
Year built
1974
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
8.75 ac
Current owner
From public records · entity-resolved
Merrillville Broadway Centre Assc L
Individual
Free & Clear · 3 yrs held
Mailing address
500 5TH AVE STE #1530, NEW YORK, NY 10110-1502
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2023
$8,400,000
Merrillville Broadway Centre Assc L
Seritage Kmt Finance LLC
Special Warranty Deed
—
Dec 6, 2019
—
Seritage Kmt Finance LLC
—
Grant Deed
related
$2,000,000,000 · Berkshire Hathaway Life Ins Co
Jul 28, 2015
—
Seritage Kmt Finance LLC
Kamrt Corporation
Warranty Deed
—
Nov 22, 2004
—
Troy Coolidge No 25 LLC
Api Properties 314 LLC
Grant Deed
related
—
May 4, 2004
—
Api Properties 314 LLC
Malan Realty Investors INC
Grant Deed
related
—
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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