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    Property profile & analytics

    303 81st Ave Merrillville, IN 46410-5572

    • Strip malls
    • 18,930 SF
    • 1.64 lot acres
    OFF-MARKET
    Value Estimation
    $5,265,000
    Last Sale
    Feb 22, 2023
    $5,330,000
    Location Intelligence
    Property ID
    US31-3209550
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Panera Bread / Cafe / Sandwich Shop

    Property Details for 303 81st Ave

    Year built
    2003
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.64 lot acres
    Property size
    18,930 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    45-12-22-301-022.000-030
    APU
    451222301022000030

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $5,240,000

    • CAP approach

      CAP return
      Estimation
      6%
      $5,260,000
      6.5%
      $5,380,000
      7%
      $5,590,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $5,005,000
      Geo Method
      $5,430,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $5,825,000
      Retail
      $5,460,000
      Mixed-Use
      $5,090,000
      Hospitality
      $5,275,000
      Educational
      $4,805,000
      Residential Income
      $5,285,000
      Energy
      $5,280,000
      Income-Based Land
      $6,560,000
      Food Service
      $6,050,000

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.3341
    Latitude
    41.4701
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $78,211
    $1,979,700
    $2,554,600
    $4,534,300
    -
    $1,979,700
    $2,554,600
    $4,534,300

    Comparable in this City

    • Value Estimation by Request
      17.07 Acres

      92nd Ave

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    • Value Estimation by Request
      32,287 SF

      401 81st Ave, Unit 31

      SHOPPING CENTER, STRIP CENTER • 32,287 SF
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      View Details
    • Value Estimation by Request
      18,000 SF

      4831 81st Ave, Unit 4941

      SHOPPING CENTER, STRIP CENTER • 18,000 SF
      4831 81st Ave, Merrillville, IN 46410-5841
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    • Value Estimation by Request
      30,276 SF

      7970 Broadway

      SHOPPING CENTER, STRIP CENTER • 30,276 SF
      7970 Broadway, Merrillville, IN 46410-5540
      View Details
    • Value Estimation
      $420,000
      9,750 SF

      7807 Taft St

      SHOPPING CENTER, STRIP CENTER • 9,750 SF
      7807 Taft St, Merrillville, IN 46410-5240
      View Details
    • Value Estimation by Request
      62,174 SF

      205 Lincoln Hwy

      SHOPPING CENTER, STRIP CENTER • 62,174 SF
      205 Lincoln Hwy, Merrillville, IN 46410
      View Details

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    Merrillville, IN 46410-5572
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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