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Property profile & analytics
OFF-MARKET
Estimated value
$195,000
Medical Office Space
250 61st Ave Merrillville, IN 46410-2512
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-3519208
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1938
Construction
WOOD
Total area
2,297 SF
Lot
0.36 ac (15,769 SF)
APN
45-12-04-481-011.000-030
UPID
US31-3519208
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
-
Gloria's Hospice Nursing Home
-
Extra Heating & Air Conditioning HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$175k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$195k
Owner & transaction history
Katrina L Price · 3 yrs held
Katrina L Price
since 2023
Last sale
$199,000
6 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
Method
Estimation
Statistic approach
$195,000
ML approach
$175,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$195k
Range $176k – $215k · ±10% · vs last sale $199k (Jan 31 2023)
Last sale anchor
$199k
Jan 31 2023
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
$85 / 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
$3,144
Tax year 2022
Assessed value
$150,300
Assessed 2023
Previous assessed
$150,300
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$88,000
Assessed improvement
$62,300
Land market value
$88,000
Improvement market value
$62,300
Total market value
$150,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1938
Construction
WOOD
Heating
NONE
Stories
1
Total area
2,297 SF
Lot
0.36 ac (15,769 SF)
APN
45-12-04-481-011.000-030
UPID
US31-3519208
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
1938
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Katrina L Price
Individual
Mailing address
7726 TAFT ST, MERRILLVILLE, IN 46410-4557
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2023
—
Katrina L Price
Dakota Holdings LLC
Warranty Deed
—
Jan 31, 2023
$199,000
Katrina L Price
Dakota Holdings LLC
Warranty Deed
—
Dec 2, 2021
—
Dakota Holdings LLC
Dakota Properties LLC
Quit Claim Deed
related
—
Mar 18, 2021
—
Dakota Propeties LLC
Ghost Holy
Warranty Deed
—
Aug 26, 2015
—
Descent Of The Holy Ghost
Trust 5648
Grant Deed
—
Jul 11, 2005
—
Trust 5648
Onyeukwu,geoffrey
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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