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Property profile & analytics
OFF-MARKET
Estimated value
$250,000
Warehouses
13530 Morse St Cedar Lake, IN 46303-8008
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0279807
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1953
Construction
TYPE NOT SPECIFIED
Total area
1,834 SF
Lot
0.87 ac (37,897 SF)
APN
45-15-26-179-035.000-043
UPID
US31-0279807
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
-
Copper Leaf Organics - CBD Store Specialty Food Shop
-
Farmers Insurance - Brian Gifford Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$250k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$250k
Owner & transaction history
Bwg Properties LLC · 4 yrs held
Bwg Properties LLC
since 2022
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 Cedar Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cedar Lake 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
$250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$250k
Range $225k – $275k · ±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
$136 / 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
$4,948
Tax year 2022
Assessed value
$320,500
Assessed 2023
Previous assessed
$202,500
+58.3% YoY
Effective rate
1.54%
On assessed value
Assessed land
$136,400
Assessed improvement
$184,100
Land market value
$136,400
Improvement market value
$184,100
Total market value
$320,500
Applied tax rate
43.0000
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1953
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
1,834 SF
Lot
0.87 ac (37,897 SF)
APN
45-15-26-179-035.000-043
UPID
US31-0279807
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
1953
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
Bwg Properties LLC
Entity
Mailing address
9330 W 97TH PL, SAINT JOHN, IN 46373-0220
Ownership since
2022
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
May 20, 2022
—
Bwg Properties LLC
David Carey
Warranty Deed
$272,000 · Farmers Insurance Group FCU
May 16, 2019
—
David Carey
Ej Holding Phoenix LLC
Warranty Deed
$215,000 · Demotte State Bank
Sep 12, 2017
—
Ej Holdings Phoenix LLC
—
Deed
related
$165,000 · Francisco Zeledon
Mar 15, 2013
—
Heather Dessauer
Cassady,arnold P & Suzan M
Warranty Deed
related
—
—
—
Ej Holdings Phoenix LLC
—
Deed Of Trust
related
$165,000 · Francisco Zeledon
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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