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Property profile & analytics
FOR LEASE
Medical Office Space
1501 S Court St Crown Point, IN 46307
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0639829
For Lease
1 / 7
Contact for pricing
1501 S Court St, Crown Point, IN 46307
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Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2006
Construction
WOOD
Total area
19,544 SF
Lot
2.13 ac (92,565 SF)
Zoning code
R33
APN
45-16-20-101-002.000-042
UPID
US31-0639829
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
-
Anisha A Amin MD Pediatrician Medical Clinic
-
Centier Bank Bank Loan Service
-
Envision Health Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$797k
Blend (final)
Blend
$635k
Owner & transaction history
Mmt Realty LLC · 4 yrs held
Mmt Realty LLC
since 2021
4 recorded transactions
Zoning & alternative use
R33 · Crown Point, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$985,000
+22.4%
Commercial (general)
$860,000
+6.6%
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 Crown Point submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Crown Point 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
$475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$805,000
Current use
RETAIL STORES
$985,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$860,000
Change: +7% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$760,000
Change: -6% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$750,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$32 / 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
$57,000
Tax year 2022
Assessed value
$2,460,500
Assessed 2023
Previous assessed
$2,384,800
+3.2% YoY
Effective rate
2.32%
On assessed value
Assessed land
$350,600
Assessed improvement
$2,109,900
Land market value
$350,600
Improvement market value
$2,109,900
Total market value
$2,460,500
Applied tax rate
42.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2006
Construction
WOOD
Heating
NONE
Stories
2
Total area
19,544 SF
Lot
2.13 ac (92,565 SF)
Zoning code
R33
APN
45-16-20-101-002.000-042
UPID
US31-0639829
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R33 · Crown Point, INZoning R33 · permitted uses
R33 · Crown Point, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$805,000
RETAIL STORES
Est. value
$985,000
COMMERCIAL (GENERAL)
Est. value
$860,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$760,000
INDUSTRIAL (GENERAL)
Est. value
$750,000
MEDICAL BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Construction
WOOD
Heating
NONE
Stories
2
Lot
2.13 ac
Current owner
From public records · entity-resolved
Mmt Realty LLC
Entity
Mailing address
3327 FARMGATE DR, NAPERVILLE, IL 60564-5930
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2021
—
Mmt Realty LLC
Joseph M Lamere
Warranty Deed
$2,000,000 · First Federal Bank Fsb
Dec 9, 2004
—
Lamere LLC
Lamere,richard J & Arlene L
Quit Claim Deed
related
—
—
—
Lamere LLC
—
Deed Of Trust
related
$2,125,500 · Centier Bank
—
—
Lamere LLC
—
Deed Of Trust
related
$553,659 · Centier Bank
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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