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Property profile & analytics
OFF-MARKET
Estimated value
$3,890,000
Warehouses
3100 Michigan St, Hammond, IN 46323-1268
Entity Owned
10-yr Hold
Free & Clear
Property ID
US31-1170142
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1983
Construction
TYPE NOT SPECIFIED
Total area
54,107 SF
Lot
10 ac (435,600 SF)
APN
45-07-04-226-001.000-023
UPID
US31-1170142
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
-
Hammond Group, Inc. Lead Acid Battery Lab Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.89M
Owner & transaction history
Hammond Group INC · 10 yrs held
Hammond Group INC
since 2016
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.1M
+1.8%
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 Hammond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hammond 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,035,000
Current use
RETAIL STORES
$4,105,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$3.89M
Range $3.50M – $4.28M · ±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
$72 / 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
$164,218
Tax year 2022
Assessed value
$4,643,900
Assessed 2023
Previous assessed
$4,462,700
+4.1% YoY
Effective rate
3.54%
On assessed value
Assessed land
$1,252,500
Assessed improvement
$3,391,400
Land market value
$1,252,500
Improvement market value
$3,391,400
Total market value
$4,643,900
Applied tax rate
23.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1983
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
2
Total area
54,107 SF
Lot
10 ac (435,600 SF)
APN
45-07-04-226-001.000-023
UPID
US31-1170142
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
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.0M
RETAIL STORES
Est. value
$4.1M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1983
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
2
Lot
10 ac
Current owner
From public records · entity-resolved
Hammond Group INC
Entity
Free & Clear · 10 yrs held
Mailing address
2901 CARLSON DR STE #200, HAMMOND, IN 46323-1191
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2019
—
Hammond Group INC
—
Loan Modification
related
$44,139,917 · Bmo Harris Bk NA
Jun 2, 2016
—
Hammond Group INC
—
Deed
related
$14,137,500 · Bmo Harris Bank NA
Mar 28, 2016
—
Hammond Group INC
Hammond Lead Products INC
Quit Claim 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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