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Property profile & analytics
OFF-MARKET
Estimated value
$2,275,000
Warehouses
2300 Cline Ave Schererville, IN 46375-2579
Trust Owned
8-yr Hold
Free & Clear
Property ID
US31-0049394
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2002
Construction
WOOD
Total area
40,757 SF
Lot
1.5 ac (65,296 SF)
Zoning code
R3
APN
45-11-15-480-002.000-036
UPID
US31-0049394
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
-
RUSH Physical Therapy - Schererville Medical Clinic
-
Extreme Martial Arts Training Center Sports School
-
Stephan M. Neese & Associates Government Office
-
Amy B. Craig Physician
-
Sawdust Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.64M
Blend (final)
Blend
$2.28M
Owner & transaction history
Trust 1438 · 8 yrs held
Trust 1438
since 2018
5 recorded transactions
Zoning & alternative use
R3 · Schererville, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.1M
+1.8%
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 Schererville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Schererville 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,040,000
Current use
RETAIL STORES
$3,095,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,595,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.28M
Range $2.05M – $2.50M · ±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
$56 / 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
$49,988
Tax year 2022
Assessed value
$2,663,000
Assessed 2023
Previous assessed
$2,710,600
-1.8% YoY
Effective rate
1.88%
On assessed value
Assessed land
$449,700
Assessed improvement
$2,213,300
Land market value
$449,700
Improvement market value
$2,213,300
Total market value
$2,663,000
Applied tax rate
36.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2002
Construction
WOOD
Heating
NONE
Stories
3
Total area
40,757 SF
Lot
1.5 ac (65,296 SF)
Zoning code
R3
APN
45-11-15-480-002.000-036
UPID
US31-0049394
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R3 · Schererville, IN
Zoning R3 · permitted uses
R3 · Schererville, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Schererville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.0M
RETAIL STORES
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$2.6M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (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
2002
Construction
WOOD
Heating
NONE
Stories
3
Lot
1.5 ac
Current owner
From public records · entity-resolved
Trust 1438
Trust
Free & Clear · 8 yrs held
Mailing address
PO BOX 1313, LAFAYETTE, IN 47902-1313
Ownership since
2018
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 2, 2025
—
The Land Trust Company
—
Deed
related
$3,200,000 · Old Plank Trail Community Bank NA
Apr 23, 2018
—
Trust 1438
Apa Dev LLC
Warranty Deed
—
Oct 8, 2008
—
Adk Properties LLC
Adk Properties LLC
Quit Claim Deed
related
$6,000,000 · First Midwest Bank
May 13, 2005
—
South Cline Plaza LLC
Krygler Properties LLC
Quit Claim Deed
related
$1,696,000 · Peoples Bank
Aug 17, 2004
—
Krygier Properties LLC
Von Tobel Lumber & Supply INC
Warranty Deed
$475,000 · Peoples Bank
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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