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    Property profile & analytics

    1501 S Court St Crown Point, IN 46307

    • Medical Office Space
    • 19,544 SF
    • 2.13 lot acres
    For Lease
    View listing
    $22 SF/Yr
    Last Sale
    Aug 16, 2021
    Value Estimations
    $635,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0639829
    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

    • Anisha A Amin MD / Pediatrician / Medical Clinic
    • Centier Bank / Bank / Loan Service
    • Envision Health / Medical Clinic

    Property Details for 1501 S Court St

    Year built
    2006
    Construction
    WOOD
    Lot size
    2.13 lot acres
    Property size
    19,544 SF
    Zone code
    R33
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    45-16-20-101-002.000-042
    APU
    451620101002000042

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $796,000
      Market price range: $449k - $1.20M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Crown Point
    County
    Lake
    State
    Indiana
    Longitude
    -87.3699
    Latitude
    41.3907
    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
    $57,000
    $350,600
    $2,109,900
    $2,460,500
    -
    $350,600
    $2,109,900
    $2,460,500

    Comparable in this City

    • Value Estimation
      $1,820,000
      40,890 SF

      500 109th Ave

      MEDICAL BUILDING • 40,890 SF
      500 109th Ave, Crown Point, IN 46307-7294
      View Details
    • Value Estimation
      $1,160,000
      45,594 SF

      9330 Broadway

      MEDICAL BUILDING • 45,594 SF
      9330 Broadway, Crown Point, IN 46307-9830
      View Details
    • Value Estimation
      $1,255,000
      28,030 SF

      297 Franciscan Dr

      MEDICAL BUILDING • 28,030 SF
      297 Franciscan Dr, Crown Point, IN 46307-4858
      View Details
    • Value Estimation by Request
      5,200 SF

      3 State Rd 231

      MEDICAL BUILDING • 5,200 SF
      3 State Rd 231, Crown Point, IN 46307
      View Details
    • Value Estimation by Request
      4,116 SF

      698 Burrell Dr

      MEDICAL BUILDING • 4,116 SF
      698 Burrell Dr, Crown Point, IN 46307-9000
      View Details
    • Value Estimation by Request
      1,308 SF

      200 St

      MEDICAL BUILDING • 1,308 SF
      200 St, Crown Point, IN 46307-3908
      View Details

    Similar Nearby for Sale

    • $795,000
      3,612 SF

      Crown Point Multi-Family Property

      Multi-family property in Crown Point, Indiana, with 3,612 square feet.
      140 N West St, Crown Point, IN 46307
      View Details
    • $112,500
      0.34 Acres

      Residential Land in Crown Point

      Residential land for sale in Crown Point, Indiana.
      11059 Wynbrook Dr, Crown Point, IN 46307
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    • $257,500
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      Crown Point Commercial Land Opportunity

      Two acres, prime location, full utilities.
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    • $63,500
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      Wooded Waterfront Lot For Sale

      Desirable wooded walkout lot in Falling Waters subdivision.
      34 Levanno Dr, Crown Point, IN 46307
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    • $355,000
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      Crown Point Wooded Lot

      Almost 4-acre wooded lot in Crown Point, Indiana.
      12201 Cedar Lake Rd, Crown Point, IN 46307
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    • $62,500
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      Residential Lot in Lakes Community

      Residential lot ready for new home construction in Crown Point.
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    Similar Nearby for Lease

    • $1,800 /Mo
      1,350 SF

      Commercial Space in Crown Point

      Flexible commercial space suitable for various business types.
      10659 Randolph St, Crown Point, IN 46307
      View Details
    • $1,800 /Mo
      1,350 SF

      Crown Point Commercial Space For Lease

      Flexible commercial space suitable for various business types.
      10661 Randolph St, Crown Point, IN 46307
      View Details
    • $28 SF/Yr
      16,660 SF

      Crown Point Office Space for Lease

      Modern Office Suites, 2,000-16,660 SF
      11005 Broadway, Crown Point, IN 46307
      View Details
    • $3,600 /Mo
      2,700 SF

      Crown Point Commercial Space Available

      Flexible commercial space suitable for various business types in Crown Point.
      10659-10661 Randolph St, Crown Point, IN 46307
      View Details
    • Contact for pricing
      100 SF

      Crown Point Office Suites for Lease

      Individual office suites for lease near downtown Crown Point.
      250 N Main St, Crown Point, IN 46307
      View Details
    • Contact for pricing
      20,000 SF

      Medical Office Space Available

      4.57 acre land site for lease or build-to-suit.
      Summit St, Crown Point, IN 46307
      View Details
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    Crown Point, IN 46307
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    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
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