New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,740,000
Office Spaces
1650 81st Ave, Merrillville, IN 46410-5342
Entity Owned
2-yr Hold
Free & Clear
Property ID
US31-0549105
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1990
Construction
WOOD
Total area
1,617 SF
Lot
3.31 ac (144,401 SF)
Zoning code
R33
APN
45-12-20-277-010.000-030
UPID
US31-0549105
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
-
Self-Storage at U-Haul Storage Facility
-
U-Haul Moving & Storage of Merrillville Car Rental Facility
-
U-Box at U-Haul Moving Company Storage Facility
-
Trailer Rental at U-Haul Car Rental Facility
-
Truck Sales at U-Haul Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.74M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.74M
Owner & transaction history
Mercury Storage 1 A LLC · 2 yrs held
Mercury Storage 1 A LLC
since 2024
Last sale
$6.7M
5 recorded transactions
Zoning & alternative use
R33 · Merrillville, 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 Merrillville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merrillville 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
$6,740,000
ML approach
$6,740,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.74M
Range $6.07M – $7.41M · ±10% · vs last sale $6.74M (Feb 20 2024)
Last sale anchor
$6.74M
Feb 20 2024
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
$4,168 / 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
$52,740
Tax year 2022
Assessed value
$2,526,000
Assessed 2023
Previous assessed
$2,526,000
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$1,003,800
Assessed improvement
$1,522,200
Land market value
$1,003,800
Improvement market value
$1,522,200
Total market value
$2,526,000
Applied tax rate
30.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
NONE
Buildings
7
Stories
1
Total area
1,617 SF
Lot
3.31 ac (144,401 SF)
Zoning code
R33
APN
45-12-20-277-010.000-030
UPID
US31-0549105
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R33 · Merrillville, IN
Zoning R33 · permitted uses
R33 · Merrillville, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Merrillville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
WOOD
Heating
NONE
Stories
1
Buildings
7
Lot
3.31 ac
Current owner
From public records · entity-resolved
Mercury Storage 1 A LLC
Entity
Free & Clear · 2 yrs held
Mailing address
20 E CLAREDON AVE, PHOENIX, AZ 85012
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2024
—
Mercury Storage 1 A LLC
Uh Storage Limited Partnership
Limited Warranty Deed
—
Feb 20, 2024
$6,738,203
Mercury Storage 1 A LLC
Uh Storage Limited Partnership
Deed
—
Feb 16, 2024
—
U Haul Moving Partners INC
Uh Storage De Limited Partnership
Lease
—
Feb 16, 2024
$6,738,203
U Haul Moving Partners INC
Uh Storage De Limited Partnership
Deed
—
May 21, 2004
—
Storage De Uh
Bmo Global Cap Solutions INC
Deed Of Trust
related
$183,000,000 · Bank Of America
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1650 81st Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
