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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Medical Office Space
222 Douglas St, Hammond, IN 46320-1960
Individually Owned
1-yr Hold
Free & Clear
Property ID
US31-0551897
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1992
Construction
TYPE NOT SPECIFIED
Total area
13,125 SF
Lot
1.06 ac (45,999 SF)
APN
45-02-36-332-006.000-023
UPID
US31-0551897
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
-
DaVita Comprehensive Renal Care-hammond Medical Clinic
-
Fletes Rafael MD Physician Medical Clinic
-
Nephrology Specialists PC Medical Clinic
-
Agnes Harmon, CNS Physician
-
Mc Manus-Tomsz Erin M Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$555k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$670k
Blend (final)
Blend
$610k
Owner & transaction history
Sherman I Smoot · 1 yrs held
Sherman I Smoot
since 2024
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$955,000
+123.3%
Apartment house (5+ units)
$740,000
+73.2%
Commercial (general)
$675,000
+57.2%
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 Hammond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hammond 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
$555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$430,000
Current use
RETAIL STORES
$955,000
Change: +123% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$740,000
Change: +73% · Conversion: Moderate
COMMERCIAL (GENERAL)
$675,000
Change: +57% · Conversion: Easy
WAREHOUSE, STORAGE
$530,000
Change: +24% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$500,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$46 / 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
$52,993
Tax year 2022
Assessed value
$1,446,300
Assessed 2023
Previous assessed
$1,440,100
+0.4% YoY
Effective rate
3.66%
On assessed value
Assessed land
$99,300
Assessed improvement
$1,347,000
Land market value
$99,300
Improvement market value
$1,347,000
Total market value
$1,446,300
Applied tax rate
23.0000
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
1992
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
13,125 SF
Lot
1.06 ac (45,999 SF)
APN
45-02-36-332-006.000-023
UPID
US31-0551897
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
MEDICAL BUILDING Current
Est. value
$430,000
RETAIL STORES
Est. value
$955,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$740,000
COMMERCIAL (GENERAL)
Est. value
$675,000
WAREHOUSE, STORAGE
Est. value
$530,000
INDUSTRIAL (GENERAL)
Est. value
$500,000
MEDICAL BUILDING Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
1992
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Sherman I Smoot
Individual
Free & Clear · 1 yrs held
Mailing address
2036 W LINCOLN AVE STE 101B, OGDEN, UT 84401-6516
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
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2024
—
Sherman I Smoot
Michaela Capital LLC
Special Warranty Deed
—
Apr 23, 2021
—
Raskolnikov Enterprises LLC
Thurshwood Properties LLC
Special Warranty Deed
$20,000 · Centier Bank
Jul 30, 2019
$293,407
Beckstead,k & S Living Trust
Novalis LLC
Grant Deed
—
May 28, 2019
$180,000
Raskolnikov Ents LLC
Novalis LLC
Grant Deed
—
Apr 30, 2019
—
David W Close
Novalis LLC
Grant Deed
—
Apr 30, 2019
$130,000
Johnson,w & Linda J Living Trust
Novalis LLC
Grant Deed
—
Apr 30, 2019
$200,000
Nanga Patbat 2 LLC
Novalis LLC
Grant Deed
—
Apr 30, 2019
$136,388
Reimschussel Family Trust
Novalis LLC
Grant Deed
—
Apr 25, 2019
$136,388
Kent Reimschussel
Novalis LLC
Grant Deed
—
Apr 22, 2019
$50,000
Rane,gary & Sandra Living Trust
Rnp-10 LLC
Grant Deed
—
Mar 14, 2019
—
Smith,robert L & Bonnie R Trust
Rnp-10 LLC
Grant Deed
—
Feb 8, 2019
—
Fae G Huggard
Rnp-10 LLC
Grant Deed
—
Jan 15, 2019
—
Tratton,her B & Susan M Trust
Rnp-10 LLC
Grant Deed
—
Jan 11, 2019
—
Thrushwood Properties LLC
Paseo LLC
Grant Deed
—
Nov 6, 2018
—
Rnp-13 LLC
Colorado Dollar LLC
Grant 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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