283 Melton Rd Burns Harbor, IN 46304-9746
Industrial properties
Google Maps
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
For Sale
$2,400,000
283 Melton Rd, Burns Harbor, IN 46304-9746
View Listing →
Estimated value (blended)
$460k
Range $414k – $506k (±10%)
Implied cap rate
6.10%
In-place · NOI ÷ last sale
Property ID
US31-1286866
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1968
Construction
CONCRETE
Total area
7,065 SF
Lot
8.97 ac (390,864 SF)
APN
64-06-04-151-009.000-024
UPID
US31-1286866
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
$430k
Comparable Approach
Comparable
$663k
Blend (final)
Blend
$460k
Owner & transaction history
since 2023
Last sale
$540,000
2 recorded transactions
Zoning & alternative use
Top alternative use upside
Commercial (general)
$525,000
+18.8%
Retail stores
$485,000
+10.6%
Restaurant
$475,000
+8.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
6 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$460k
Value range
$414k – $506k
±10% around blend
Estimated value / SF
$65 / SF
Confidence
Property data
88
Comparable evidence
60
$414k
blend $460k
$506k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
7,065 SF
Lot area
8.97 ac
Year built
1968
Stories
2
APN
64-06-04-151-009.000-024
Assessed value
$1,054,900
Annual tax
$22,327
3
Income approach: direct capitalization
Partial preview
Income approach indication
$430k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$470k
@ 6.5% CAP return
$430k
@ 7% CAP return
$400k
4
Sales comparison
Partial preview
Sales approach indication
$663k
Range $153k – $663k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$460k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+19%
vs current-use indication
Retail Stores
Restaurant
Industrial (general) · current use
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
6.10%
Implied, in-place cap rate for this industrial properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.10%
9.0%
NOI (est.)
$38k *
Last sale · May 2023
$540k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$620k
Move the market yield to see immediate price impact.
Value / SF
$88
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.60%6.10%6.60%
$34k
$608k
$558k
$515k
$38k
$675k
$620k
$573k
$42k
$743k
$682k
$630k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$22,327
Tax year 2023
Assessed value
$1,054,900
Assessed 2023
Previous assessed
$1,054,900
+0.0% YoY
Effective rate
2.12%
On assessed value
Assessed land
$1,032,100
Assessed improvement
$22,800
Land market value
$1,032,100
Improvement market value
$22,800
Total market value
$1,054,900
Applied tax rate
25.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Year built
1968
Construction
CONCRETE
Heating
NONE
Stories
2
Total area
7,065 SF
Lot
8.97 ac (390,864 SF)
APN
64-06-04-151-009.000-024
UPID
US31-1286866
Jurisdiction
PORTER
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Construction
CONCRETE
Heating
NONE
Stories
2
Lot
8.97 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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