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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Medical Office Space
2490 Central Ave, Lake Station, IN 46405-2122
Entity Owned
21-yr Hold
Free & Clear
Property ID
US31-0975726
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2009
Construction
WOOD
Total area
26,056 SF
Lot
1.13 ac (49,136 SF)
Zoning code
R33
APN
45-09-17-326-009.000-021
UPID
US31-0975726
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
-
Lott Daniel MD Physician
-
Mary T. Ellis Midwife
-
Reynaldo Caluag Pediatrician Physician
-
Dr. Frank X. Weilnhammer, MD Physician
-
Peggy R. Payonk, LCSW Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$720k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.43M
Blend (final)
Blend
$1.08M
Owner & transaction history
T & S Dev Co LLC · 21 yrs held
T & S Dev Co LLC
since 2005
2 recorded transactions
Zoning & alternative use
R33 · Lake Station, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.6M
+31.8%
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 Lake Station submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Station 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
$720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,175,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,550,000
Change: +32% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,015,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±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
$41 / 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
$110,550
Tax year 2022
Assessed value
$2,374,400
Assessed 2023
Previous assessed
$2,378,300
-0.2% YoY
Effective rate
4.66%
On assessed value
Assessed land
$90,200
Assessed improvement
$2,284,200
Land market value
$90,200
Improvement market value
$2,284,200
Total market value
$2,374,400
Applied tax rate
21.0000
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
2009
Construction
WOOD
Heating
NONE
Stories
2
Total area
26,056 SF
Lot
1.13 ac (49,136 SF)
Zoning code
R33
APN
45-09-17-326-009.000-021
UPID
US31-0975726
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R33 · Lake Station, IN
Zoning R33 · permitted uses
R33 · Lake Station, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Station. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.0M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
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
2009
Construction
WOOD
Heating
NONE
Stories
2
Lot
1.13 ac
Current owner
From public records · entity-resolved
T & S Dev Co LLC
Entity
Free & Clear · 21 yrs held
Mailing address
PO BOX 1430, PORTAGE, IN 46368-9230
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2018
—
Northshore Health Centers INC
—
Deed
related
$4,375,000 · Peoples Bank Sb
Feb 23, 2005
—
T & S Dev Co LLC
Stofko,john J
Quit Claim 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.
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