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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Industrial properties
283 Melton Rd, Burns Harbor, IN 46304-9746
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
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
Implied cap rate, NOI & suggested price
Cap 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
$525k
Owner & transaction history
Joeandy Holdings INC · 3 yrs held
Joeandy Holdings INC
since 2023
Last sale
$540,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$525,000
+18.8%
Retail stores
$485,000
+10.6%
Restaurant
$475,000
+8.2%
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 Burns Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burns Harbor 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
$460,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$470,000
6.5%
$430,000
7%
$400,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$440,000
Current use
COMMERCIAL (GENERAL)
$525,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$485,000
Change: +11% · Conversion: Moderate
RESTAURANT
$475,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$425,000
Change: -3% · Conversion: Easy
MEDICAL BUILDING
$420,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $540k (May 3 2023)
Last sale anchor
$540k
May 3 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
$74 / 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 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
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
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
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$440,000
COMMERCIAL (GENERAL)
Est. value
$525,000
RETAIL STORES
Est. value
$485,000
RESTAURANT
Est. value
$475,000
AUTO REPAIR, GARAGE
Est. value
$425,000
MEDICAL BUILDING
Est. value
$420,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1968
Construction
CONCRETE
Heating
NONE
Stories
2
Lot
8.97 ac
Current owner
From public records · entity-resolved
Joeandy Holdings INC
Entity
Free & Clear · 3 yrs held
Mailing address
7824 NAGLE AVE, BURBANK, IL 60459-1118
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2023
$540,000
Joeandy Holdings INC
Omega 2000 Corporation
Special Warranty Deed
—
May 24, 2006
—
Tim Mckoy
Omega Investments INC
Warranty 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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