Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2016 Columbus Dr, Unit 20 East Chicago, IN 46312-2830

    • Medical offices
    • 4,263 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0072155
    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

    • Medical offices

    Property Details for 2016 Columbus Dr

    Year built
    2011
    Construction
    WOOD
    Lot size
    0.36 lot acres
    Property size
    4,263 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    45-03-22-380-031.000-024
    APU
    450322380031000024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    East Chicago
    County
    Lake
    State
    Indiana
    Longitude
    -87.4465
    Latitude
    41.6393
    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
    $16,842
    $66,900
    $497,500
    $564,400
    -
    $66,900
    $497,500
    $564,400

    Comparable in this City

    • Value Estimation by Request
      1,100 SF

      3847 Euclid Ave

      MEDICAL BUILDING • 1,100 SF
      3847 Euclid Ave, East Chicago, IN 46312-2332
      View Details
    • Value Estimation
      $535,000
      11,976 SF

      1313 Chicago Ave

      MEDICAL BUILDING • 11,976 SF
      1313 Chicago Ave, East Chicago, IN 46312-3316
      View Details
    • Value Estimation by Request
      7,780 SF

      3924 Main St

      MEDICAL BUILDING • 7,780 SF
      3924 Main St, East Chicago, IN 46312-2990
      View Details
    • Value Estimation by Request
      2,801 SF

      1820 Columbus Dr

      MEDICAL BUILDING • 2,801 SF
      1820 Columbus Dr, East Chicago, IN 46312-2826
      View Details
    • Value Estimation
      $10,425,000
      791,664 SF

      4321 Fir St

      MEDICAL BUILDING • 791,664 SF
      4321 Fir St, East Chicago, IN 46312-3049
      View Details
    • Value Estimation by Request
      3,570 SF

      3726 Main St

      MEDICAL BUILDING • 3,570 SF
      3726 Main St, East Chicago, IN 46312-2224
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,000 SF

      East Chicago Office Building Available

      Office building near I-90 and residential area for sale.
      4518 Indianapolis Blvd, East Chicago, IN 46312
      View Details
    • $415,000
      5,636 SF

      Turnkey Multi-Unit Investment Property

      Fully rented multi-family property with immediate income potential.
      5009 Magoun Ave, East Chicago, IN 46312
      View Details
    • Contact for pricing

      Land in Established Neighborhood

      Vacant lot in established neighborhood, close to amenities.
      4719 Mccook Ave, East Chicago, IN 46312
      View Details
    • $329,900
      4.08 Acres

      East Chicago Land Opportunity

      4.078 acre land parcel near major transportation routes.
      1300 W 145Th St, East Chicago, IN 46312
      View Details
    • New
      $95,000
      1,875 SF

      East Chicago Commercial Opportunity

      East Chicago property with potential for restaurant, retail, or creative space.
      604 W 151St St, East Chicago, IN 46312
      View Details
    • Contact for pricing
      8,040 SF

      Mixed-Use Property on Indianapolis Boulevard

      Mixed-use property with residential and commercial units on Indianapolis Boulevard.
      4802 Indianapolis Blvd, East Chicago, IN 46312
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      1,100 SF

      East Chicago Retail/Office Space

      Newly constructed retail/office space in a busy business district.
      811 W Chicago Ave, East Chicago, IN 46312
      View Details
    • Contact for pricing
      11,960 SF

      East Chicago Warehouse with Storage

      Secured warehouse with outside storage, near major transportation routes.
      5137 Indianapolis Blvd, East Chicago, IN 46312
      View Details
    • $12 SF/Yr
      11,469 SF

      East Chicago Warehouse Space Available

      Flexible Industrial Space, 500-10,469 sq ft
      425 151St St, East Chicago, IN 46312
      View Details
    • $14 SF/Yr
      3,835 SF

      East Chicago Retail Space For Lease

      Prime Retail Building, High Visibility
      2002 Columbus Dr, East Chicago, IN 46312
      View Details
    • New
      $1,500 /Mo
      3,750 SF

      East Chicago Commercial Space Available

      Commercial space in East Chicago, previously a bar, ready for newventures.
      604 W 151St St, East Chicago, IN 46312
      View Details
    • $14 SF/Yr

      Renovated Retail Space on Corner

      Newly renovated retail space in high-visibility Harbor neighborhood location.
      2002 E Columbus Dr, East Chicago, IN 46312
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2016 Columbus Dr, Unit 20
    East Chicago, IN 46312-2830
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.