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Property profile & analytics
OFF-MARKET
Estimated value
$1,220,000
Office Spaces
3200 Willowcreek Rd, Portage, IN 46368-4485
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US31-0636073
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2006
Construction
WOOD
Total area
8,089 SF
Lot
0.96 ac (41,905 SF)
APN
64-05-23-276-024.000-016
UPID
US31-0636073
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
-
Rhame Elwood & McClure P.C. Law Firm
-
Rhame & Elwood: Shanahan John P Law Firm
-
Straka Beauty Bar Hair Salon Nail Salon
-
Rhame & Elwood: Haynes Michael W Law Firm
-
Williamson Cheryl A Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.14M
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.22M
Owner & transaction history
Portage Prof Ctr LLC · 6 yrs held
Portage Prof Ctr LLC
since 2020
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$835,000
+4.7%
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 Portage submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portage 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%
$1,235,000
6.5%
$1,140,000
7%
$1,060,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$800,000
Current use
RETAIL STORES
$835,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$1.22M
Range $1.10M – $1.34M · ±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
$151 / 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
$21,787
Tax year 2023
Assessed value
$838,700
Assessed 2023
Previous assessed
$838,700
+0.0% YoY
Effective rate
2.60%
On assessed value
Assessed land
$114,100
Assessed improvement
$724,600
Land market value
$114,100
Improvement market value
$724,600
Total market value
$838,700
Applied tax rate
8.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2006
Construction
WOOD
Heating
NONE
Stories
1
Total area
8,089 SF
Lot
0.96 ac (41,905 SF)
APN
64-05-23-276-024.000-016
UPID
US31-0636073
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
COMMERCIAL (GENERAL) Current
Est. value
$800,000
RETAIL STORES
Est. value
$835,000
COMMERCIAL (GENERAL) 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
2006
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Portage Prof Ctr LLC
Entity
Mailing address
3200 WILLOWCREEK RD STE C, PORTAGE, IN 46368-4486
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2021
—
Portage Professional Center LLC
—
Deed
related
$118,400 · Peoples Bank
Jul 1, 2020
—
Portage Prof Ctr LLC
Trust No 5325
Grant Deed
—
Apr 13, 2007
—
Trust 5835
Trust 5325
Quit Claim Deed
related
—
—
—
Trust 5835
—
Deed Of Trust
related
$772,500 · First National Bank Valparaiso
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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