Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1229 Sheffield Ave, Unit 37 Dyer, IN 46311-1054

    • Strip malls
    • 7,400 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1091063
    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.

    Current Use by Public Records

    • Strip malls

    Property Details for 1229 Sheffield Ave

    Year built
    1972
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.60 lot acres
    Property size
    7,400 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    45-10-01-451-014.000-034
    APU
    451001451014000034

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $189,000
      Market price range: $189k - $325k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $260,000
      Current use
      MEDICAL BUILDING
      $415,000
      Change: +61% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $415,000
      Change: +61% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $410,000
      Change: +59% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $335,000
      Change: +29% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Dyer
    County
    Lake
    State
    Indiana
    Longitude
    -87.5185
    Latitude
    41.5085
    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
    $6,426
    $107,500
    $175,900
    $283,400
    -
    $107,500
    $175,900
    $283,400

    Comparable in this City

    • Value Estimation
      $495,000
      14,864 SF

      965 Richard Rd

      SHOPPING CENTER, STRIP CENTER • 14,864 SF
      965 Richard Rd, Dyer, IN 46311
      View Details
    • Value Estimation
      $370,000
      8,832 SF

      141 Matteson St, Unit 211

      SHOPPING CENTER, STRIP CENTER • 8,832 SF
      141 Matteson St, Dyer, IN 46311-2382
      View Details
    • Value Estimation
      $495,000
      19,374 SF

      3364 Sheffield Ave

      SHOPPING CENTER, STRIP CENTER • 19,374 SF
      3364 Sheffield Ave, Dyer, IN 46311-1080
      View Details
    • Value Estimation
      $470,000
      11,201 SF

      14817 101st Ave, Unit 14827

      SHOPPING CENTER, STRIP CENTER • 11,201 SF
      14817 101st Ave, Dyer, IN 46311-3027
      View Details
    • Value Estimation
      $275,000
      6,154 SF

      919 Sheffield Ave, Unit 929

      SHOPPING CENTER, STRIP CENTER • 6,154 SF
      919 Sheffield Ave, Dyer, IN 46311-1046
      View Details
    • Value Estimation
      $660,000
      19,336 SF

      1103 Joliet St, Unit 59

      SHOPPING CENTER, STRIP CENTER • 19,336 SF
      1103 Joliet St, Dyer, IN 46311-1926
      View Details

    Similar Nearby for Sale

    • $499,999
      0.21 Acres

      2012 Hart St, Dyer, IN 46311

      Retail properties • 0.21 Acres
      2012 Hart St, Dyer, IN 46311
      View Details
    • $3,600,000
      42,165 SF

      Spacious Commercial Building in Dyer

      42,165 SF building on 2.85 acres in Dyer, Indiana.
      14914 W 101St Ave, Dyer, IN 46311
      View Details
    • $769,900
      3,970 SF

      Dyer Commercial Building For Sale

      Turnkey restaurant/bar on 0.68 acres, near Chicago.
      1209 Sheffield Ave, Dyer, IN 46311
      View Details
    • $884,900
      3,970 SF

      Sheffield Ave Restaurant/Bar for Sale

      Turnkey Dyer, IN Restaurant & Bar
      1209 Sheffield Ave, Dyer, IN 46311
      View Details
    • $400,000

      Dyer Commercial Land - $400K

      High-traffic Dyer land, ideal for development.
      1451 Joliet St, Dyer, IN 46311
      View Details
    • $699,000

      Dyer Commercial Property on Joliet

      Versatile 2,644 SF property suitable for offices or retail.
      1275 Joliet St, Dyer, IN 46311
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,380 SF

      Retail Space in Dyer Center

      Retail space for lease in Dyer, Indiana near Chicago.
      871-879 Joliet St, Dyer, IN 46311
      View Details
    • Contact for pricing
      102,415 SF

      Dyer Town Center Retail Space

      Prime Dyer, IN retail space available.
      801-907 Joliet St, Dyer, IN 46311
      View Details
    • New
      $28 SF/Yr
      8,484 SF

      Retail Center in Dyer, Indiana

      New retail center with drive-thru availability near Illinois border.
      14805 101St Ave, Dyer, IN 46311
      View Details
    • $20 SF/Yr
      2,918 SF

      Dyer Mixed-Use Retail/Office Space

      Two-story building in Dyer/St. John area with flexible floor plan.
      14785 W 101St Ave, Dyer, IN 46311
      View Details
    • $6,500 /Mo
      3,121 SF

      Retail Space with Ample Parking

      Retail property featuring updated exterior and 66 parking spaces.
      1468 Joliet St, Dyer, IN 46311
      View Details
    • $8,270 /Mo
      3,970 SF

      Dyer, IN Commercial Opportunity

      Turnkey restaurant/bar or redevelopment opportunity on Sheffield Avenue.
      1209 Sheffield Ave, Dyer, IN 46311
      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.
    1229 Sheffield Ave, Unit 37
    Dyer, IN 46311-1054
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.