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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Theaters & concert halls
3440 61st Ave, Hobart, IN 46342-6400
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US31-0686495
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1986
Construction
WOOD
Total area
11,033 SF
Lot
6.14 ac (267,458 SF)
Zoning code
R3
APN
45-12-02-476-005.000-018
UPID
US31-0686495
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
-
The Crossing Church Church
-
Caring Heart Open Arms Childcare Daycare Center
-
Ane International Ministries Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$455k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$936k
Blend (final)
Blend
$695k
Owner & transaction history
Price Point Builders 2 LLC · 5 yrs held
Price Point Builders 2 LLC
since 2021
4 recorded transactions
Zoning & alternative use
R3 · Hobart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+55.2%
Restaurant
$965,000
+47.2%
Commercial (general)
$725,000
+10.9%
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 Hobart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hobart 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
$455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$655,000
Current use
AUTO REPAIR, GARAGE
$1,015,000
Change: +55% · Conversion: Difficult
RESTAURANT
$965,000
Change: +47% · Conversion: Difficult
COMMERCIAL (GENERAL)
$725,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$710,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$640,000
Change: -2% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$620,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$63 / 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
$59,308
Tax year 2022
Assessed value
$1,452,800
Assessed 2023
Previous assessed
$1,448,900
+0.3% YoY
Effective rate
4.08%
On assessed value
Assessed land
$327,100
Assessed improvement
$1,125,700
Land market value
$327,100
Improvement market value
$1,125,700
Total market value
$1,452,800
Applied tax rate
18.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
11,033 SF
Lot
6.14 ac (267,458 SF)
Zoning code
R3
APN
45-12-02-476-005.000-018
UPID
US31-0686495
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R3 · Hobart, IN
Zoning R3 · permitted uses
R3 · Hobart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hobart. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
THEATER (MOVIE) Current
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
RESTAURANT
Est. value
$965,000
COMMERCIAL (GENERAL)
Est. value
$725,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$710,000
RETAIL STORES
Est. value
$640,000
INDUSTRIAL (GENERAL)
Est. value
$620,000
THEATER (MOVIE) Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1986
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
6.14 ac
Current owner
From public records · entity-resolved
Price Point Builders 2 LLC
Entity
Mailing address
3440 W 61ST AVE, HOBART, IN 46342-6400
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
May 11, 2021
—
Price Point Builders 2 LLC
—
Deed
related
$230,000 · Horizon Bank
Aug 28, 2019
—
Southlake Church Of God INC
—
Deed
related
$475,000 · Centier Bk
—
—
Southlake Church Of God INC
—
Deed Of Trust
related
$656,000 · Mainsource Bank
—
—
Southlake Church Of God INC
—
Deed Of Trust
related
$475,000 · Centier Bk
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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