Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    116 Ml St Lowell, IN 46356-1714
    Back to Search
    Property profile & analytics

    116 Ml St, Lowell, IN 46356-1714

    View on Map
    • Retail space
    • 716 SF
    • 0.03 lot acres
    Off-Market
    Last Sale May 8, 2024
    Property ID
    US31-3500089
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 116 Ml St

    Year built
    1959
    Construction
    WOOD
    Lot size
    0.03 lot acres
    Property type
    Retail space
    APN
    45-19-23-382-004.000-008
    APU
    451923382004000008

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 8, 2024 — Dino Koutropoulos Thomas E Bibakis Warranty Deed —
    Feb 15, 2022 — Thomas E Bibakss Peter S Dovellos Warranty Deed —
    Jul 3, 2007 $80,000 Thomas E Bibakis Dovellos,steve S Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Lake
    State
    Indiana
    Longitude
    -87.4213
    Latitude
    41.2919
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $803
    $6,500
    $65,700
    $72,200
    -
    $6,500
    $65,700
    $72,200

    Comparable in this City

    • Value Estimation
      $1,915,000
      15,183 SF

      1704 Commercial Ave

      RETAIL STORES (PERSONAL SERVICES)
      1704 Commercial Ave, Lowell, IN 46356-2111
      View Details
    • Value Estimation by Request
      2,256 SF

      141 Commercial Ave

      RETAIL STORES (PERSONAL SERVICES)
      141 Commercial Ave, Lowell, IN 46356-2211
      View Details
    • Value Estimation by Request
      5,373 SF

      135 Commercial Ave

      RETAIL STORES (PERSONAL SERVICES)
      135 Commercial Ave, Lowell, IN 46356-2211
      View Details
    • Value Estimation by Request
      2,500 SF

      136 Commercial Ave

      RETAIL STORES (PERSONAL SERVICES)
      136 Commercial Ave, Lowell, IN 46356-2212
      View Details
    • Value Estimation by Request
      1,092 SF

      20508 Wicker Blvd

      RETAIL STORES (PERSONAL SERVICES)
      20508 Wicker Blvd, Lowell, IN 46356-9787
      View Details
    • Value Estimation by Request
      2,573 SF

      1114 Commercial Ave

      RETAIL STORES (PERSONAL SERVICES)
      1114 Commercial Ave, Lowell, IN 46356-2359
      View Details

    Similar Nearby for Sale

    • $295,000
      Pending

      Mixed-Use Investment with Retail and Housing

      Three-unit retail/office/warehouse plus two apartments in stacked duplexes, with off-street parking, but deferred maintenance to address.
      112-116 Halstead St, Lowell, IN 46356
      View Details
    • $600,000
      3,566 SF

      Turnkey Veterinary Clinic Opportunity

      Equipped 3,500sf facility on State Road 2 in Lowell, IN.
      1642 E Commercial Ave, Lowell, IN 46356
      View Details
    • $4,920,000
      Pending

      193 Acres in Lowell, Indiana

      Large acreage ideal for residential development in Lowell, Indiana.
      5920 Belshaw Rd, Lowell, IN 46356
      View Details
    • $1,147,530
      50.00 Acres

      50 Acres with Pond and Trees

      50 acres with creeks, pond, and mature trees near town.
      17022 Mt St Holtz Rd, Lowell, IN 46356
      View Details
    • $249,900
      Pending

      Residential Land in Lowell, Indiana

      11.2 acres of land suitable for building a home.
      17022 Holtz Rd, Lowell, IN 46356
      View Details
    • $359,900
      Pending

      Undeveloped Lots in Lowell, Indiana

      26 acres with 41 approved residential lots for sale.
      160Th Pl, Lowell, IN 46356
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Lowell, Indiana

      New retail space under construction with high visibility.
      17980-9 Brandywine Dr, Newburgh, IN 46356
      View Details
    • Contact for pricing

      Lowell Office/Retail Space Available

      895 SqFt single tenant office or retail space for rent.
      1032 E Commercial Ave, Lowell, IN 46356
      View Details
    • Contact for pricing
      5,732 SF

      Retail Space in Lowell Plaza

      Retail space available in a prime Lowell shopping center.
      1920-2080 E Commercial Ave, Lowell, IN 46356
      View Details
    • Contact for pricing

      Retail Space in Lowell Plaza

      Retail shopping center with excellent visibility on East Commercial Ave.
      E Commercial Ave, Lowell, IN 46356
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    116 Ml St
    Lowell, IN 46356-1714
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    116 Ml St, Lowell, IN, 46356
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!