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Property profile & analytics
OFF-MARKET
Estimated value
$1,535,000
Retail space
1615 Lk Park Ave Hobart, IN 46342-6640
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US31-1844940
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2011
Construction
WOOD
Total area
13,017 SF
Lot
1.78 ac (77,319 SF)
APN
45-13-05-351-056.000-018
UPID
US31-1844940
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
-
CVS Photo (Bike/Boat/Book/etc) Store
-
CVS Pharmacy
-
CVS Pharmacy Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
MoneyGram Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.93M
Comparable Approach
Comparable
$1.56M
Blend (final)
Blend
$1.54M
Owner & transaction history
Bzdc Hobart In South LLC
Bzdc Hobart In South LLC
since 2025
3 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 Hobart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hobart 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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,090,000
6.5%
$1,930,000
7%
$1,790,000
Alternative Use
Use
Estimation
RETAIL STORES
$990,000
Current use
WAREHOUSE, STORAGE
$970,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$1.54M
Range $1.38M – $1.69M · ±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
$118 / 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
$94,677
Tax year 2022
Assessed value
$2,170,700
Assessed 2023
Previous assessed
$2,797,300
-22.4% YoY
Effective rate
4.36%
On assessed value
Assessed land
$857,300
Assessed improvement
$1,313,400
Land market value
$857,300
Improvement market value
$1,313,400
Total market value
$2,170,700
Applied tax rate
18.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2011
Construction
WOOD
Heating
NONE
Stories
1
Total area
13,017 SF
Lot
1.78 ac (77,319 SF)
APN
45-13-05-351-056.000-018
UPID
US31-1844940
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$990,000
WAREHOUSE, STORAGE
Est. value
$970,000
RETAIL STORES Current
WAREHOUSE, STORAGE
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
2011
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.78 ac
Current owner
From public records · entity-resolved
Bzdc Hobart In South LLC
Entity
Mailing address
COCKEYSVILLE, MD 21030
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2025
—
Bzdc Hobart In South LLC
Ainthin Hobart South LLC
Special Warranty Deed
$50,000,000 · Rref V D Direct Lending Investments
Feb 17, 2012
—
Ain11in Hobart South LLC
Hook-superx LLC
Grant Deed
$3,985,276 · Wells Fargo Bank Northwest NA
Oct 14, 2010
—
Hook-superx LLC
1615 S Lake Park Avenue LLC
Warranty Deed
—
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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