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

    1423 Sheffield Ave Dyer, IN 46311-1551

    • Retail space
    • 4,320 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Feb 25, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0406737
    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

    • The Vintage Vault / Antique Store / Store

    Property Details for 1423 Sheffield Ave

    Year built
    1997
    Construction
    WOOD
    Lot size
    0.25 lot acres
    Property size
    4,320 SF
    Property type
    Retail space
    APN
    45-10-12-201-014.000-034
    APU
    451012201014000034

    Description

    This exceptional commercial property at 1423 Sheffield Avenue in Dyer, Indiana, presents a unique investment opportunity. Spanning over 4,300 square feet on a 0.25-acre lot, this building offers a versatile layout ideal for a variety of businesses. Currently configured as an antique store, the property's design allows for flexible use. The main level features a spacious, open-concept showroom, two bathrooms, and a convenient garage/storage area with an overhead door, perfect for inventory or equipment. Upstairs, a separate 5-office suite with two additional bathrooms provides ample space for administrative functions or private consultations. The building's prime location in a bustling area ensures high visibility and easy accessibility, with ample parking available. Furthermore, the upcoming completion of the West Lake Corridor train station at the corner of Sheffield and Main Street promises to significantly enhance the area's vibrancy and foot traffic, making this an even more attractive investment. This property offers a rare chance to capitalize on the exciting developments transforming Dyer, creating a strong foundation for future growth and success. The asking price is $615,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dyer
    County
    Lake
    State
    Indiana
    Longitude
    -87.5184
    Latitude
    41.5053
    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
    $7,523
    $44,600
    $287,500
    $332,100
    -
    $44,600
    $287,500
    $332,100

    Comparable in this City

    • Value Estimation
      $790,000
      7,200 SF

      871 Joliet St

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      871 Joliet St, Dyer, IN 46311-1920
      View Details
    • Value Estimation by Request

      30 Calumet Ave & Rte

      Individual retail properties
      30 Calumet Ave & Rte, Dyer, IN 46311
      View Details
    • Value Estimation by Request
      5,925 SF

      1514 Joliet St

      RETAIL STORES (PERSONAL SERVICES) • 5,925 SF
      1514 Joliet St, Dyer, IN 46311-1783
      View Details
    • Value Estimation by Request
      0.14 Acres

      Pt 1820th 1824th Matteson St St

      RETAIL STORES (PERSONAL SERVICES) • 0.14 Acres
      Pt 1820th 1824th Matteson St St, Dyer, IN 46311
      View Details
    • Value Estimation by Request
      4,988 SF

      2225 Great Lks Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,988 SF
      2225 Great Lks Dr, Dyer, IN 46311-3900
      View Details
    • Value Estimation by Request
      3,570 SF

      1824 Hart St

      RETAIL STORES (PERSONAL SERVICES) • 3,570 SF
      1824 Hart St, Dyer, IN 46311-1564
      View Details

    Similar Nearby for Sale

    • $769,900

      Dyer Commercial Building on Sheffield

      Spacious commercial building suitable for various business uses and redevelopment.
      1209 Sheffield Ave, 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
    • $499,999
      0.21 Acres

      2012 Hart St, Dyer, IN 46311

      Retail properties • 0.21 Acres
      2012 Hart St, 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

    Similar Nearby for Lease

    • $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
    • 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
    • $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
    • $2,000 /Mo

      Prime Retail Space Available

      Over 10,000 sqft of commercial space in Dyer, Indiana.
      10201 Calumet 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
    • 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
    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.
    1423 Sheffield Ave
    Dyer, IN 46311-1551
    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.