New search
Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Strip malls
2008 45th St 20 Highland, IN 46322-2388
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US31-0599570
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1984
Construction
WOOD
Total area
28,480 SF
Lot
2.92 ac (127,195 SF)
APN
45-07-32-201-001.000-026
UPID
US31-0599570
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$690k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$767k
Blend (final)
Blend
$730k
Owner & transaction history
Ardena Pdl LLC · 5 yrs held
Ardena Pdl LLC
since 2021
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$955,000
+21.8%
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 Highland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland 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
$690,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$785,000
Current use
WAREHOUSE, STORAGE
$955,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$730k
Range $657k – $803k · ±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
$26 / 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
$59,077
Tax year 2022
Assessed value
$2,917,100
Assessed 2023
Previous assessed
$2,880,800
+1.3% YoY
Effective rate
2.03%
On assessed value
Assessed land
$650,400
Assessed improvement
$2,266,700
Land market value
$650,400
Improvement market value
$2,266,700
Total market value
$2,917,100
Applied tax rate
26.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1984
Construction
WOOD
Heating
NONE
Stories
1
Units
13
Total area
28,480 SF
Lot
2.92 ac (127,195 SF)
APN
45-07-32-201-001.000-026
UPID
US31-0599570
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$785,000
WAREHOUSE, STORAGE
Est. value
$955,000
NEIGHBORHOOD: SHOPPING CENTER 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
1984
Construction
WOOD
Heating
NONE
Stories
1
Units
13
Lot
2.92 ac
Current owner
From public records · entity-resolved
Ardena Pdl LLC
Entity
Mailing address
508 MAIN ST, WILMINGTON, DE 19804-3911
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2021
—
Ardena Pdl LLC
Porte De Leau Plaza LLC
Special Warranty Deed
$7,986,000 · Argentic Real Estate Finance LLC
Jul 20, 2018
—
Porte De Leau Plaza LLC
—
Loan Modification
related
$6,000,000 · Peoples Bk
Oct 2, 2017
—
Porte De Leau Plaza LLC
—
Loan Modification
related
$7,000,000 · Peoples Bk
Sep 4, 2015
—
Lake Central Plaza LLC
—
Grant Deed
related
$6,000,000 · Peoples Bk
May 15, 2015
—
Porte De Leau Plaza LLC
Trust 5003
Grant Deed
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.
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 2008 45th St, Unit 20?
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.
