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Property profile & analytics
OFF-MARKET
Parking lots & garages
2450 Lincoln Hwy 90 Merrillville, IN 46410-5245
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0547732
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1987
Lot
0.6 ac (26,092 SF)
APN
45-12-20-178-009.000-030
UPID
US31-0547732
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
2450-2490 W 81st-hillside LLC · 12 yrs held
2450-2490 W 81st-hillside LLC
since 2013
5 recorded transactions
Zoning & alternative use
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,504
Tax year 2022
Assessed value
$215,600
Assessed 2023
Previous assessed
$215,600
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$210,600
Assessed improvement
$5,000
Land market value
$210,600
Improvement market value
$5,000
Total market value
$215,600
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1987
Heating
NONE
Lot
0.6 ac (26,092 SF)
APN
45-12-20-178-009.000-030
UPID
US31-0547732
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
Building & site characteristics
From public records
Year built
1987
Heating
NONE
Lot
0.6 ac
Current owner
From public records · entity-resolved
2450-2490 W 81st-hillside LLC
Entity
Mailing address
801 E MAIN ST, GRIFFITH, IN 46319-2883
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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 10, 2022
—
2450 2490 W 81st Hillside LLC
—
Deed
related
$510,000 · Notre Dame FCU
Apr 18, 2019
—
2450-2490 W 81st-hillside LLC
—
Trustees Deed
related
$500,000 · First Merchants Bk
Apr 13, 2017
—
2450-2490 W 81st-hillside LLC
—
Grant Deed
related
$4,614,148 · First Merchants Bk
Aug 30, 2013
—
2450-2490 W 81st-hillside LLC
Austgen Ronald Trust
Grant Deed
related
—
Jul 11, 2005
—
Austgen Ronald Trust
Hillside LLC
Grant Deed
$1,000,000 · Sand Ridge 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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