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Property profile & analytics
OFF-MARKET
Medical Office Space
1573 Cline Ave, Griffith, IN 46319-1567
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-0421643
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1968
Construction
WOOD
Total area
7,560 SF
Lot
0.87 ac (37,767 SF)
Zoning code
R33
APN
45-07-26-102-004.000-006
UPID
US31-0421643
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
-
Claude Foreit Physician
-
Lake Ridge Medical Center: Morrow Christen A MD Physician
-
Asteris George T MD Physician
-
Dr. Satish K. Reddy, MD Physician
-
Dr. David J. Flores, MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Foreit Properties LLC · 3 yrs held
Foreit Properties LLC
since 2022
2 recorded transactions
Zoning & alternative use
R33 · Griffith, IN
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 Griffith submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Griffith 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$12,387
Tax year 2022
Assessed value
$339,800
Assessed 2023
Previous assessed
$337,200
+0.8% YoY
Effective rate
3.65%
On assessed value
Assessed land
$80,100
Assessed improvement
$259,700
Land market value
$80,100
Improvement market value
$259,700
Total market value
$339,800
Applied tax rate
6.0000
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
Off-Market
Year built
1968
Construction
WOOD
Heating
NONE
Stories
1
Total area
7,560 SF
Lot
0.87 ac (37,767 SF)
Zoning code
R33
APN
45-07-26-102-004.000-006
UPID
US31-0421643
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R33 · Griffith, IN
Zoning R33 · permitted uses
R33 · Griffith, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Griffith. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1968
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
Foreit Properties LLC
Entity
Mailing address
1842 ALTA VIS AVE, MUNSTER, IN 46321-2043
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2022
—
Foreit Properties LLC
Claude E Foreit
Intrafamily Transfer
related
$400,000 · First Merchants Bank
—
—
Foreit,claude E Trust
—
Loan Modification
related
—
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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