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    3800 Brown St Hobart, IN 46342
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    3800 Brown St Hobart, IN 46342

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    • Commercial real estate
    For Sale
    $55,000
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    Hobart Land for Residential Development For Sale
    $55,000
    0.75 Acres

    Hobart Land for Residential Development

    0.75 acre lot, build your dream home!

    3800 Brown Street, Hobart, IN 46342
    View Listing
    Property ID
    US31-3289402
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3800 Brown St

    Property type
    Commercial real estate
    APN
    45-08-25-129-007.000-018

    Description

    This exceptional 32,780 square foot residential lot in Hobart, Indiana, presents a unique opportunity for building your dream home. Located at 3800 Brown St, in Lake County, zip code 46342, this property offers a tranquil setting while maintaining convenient proximity to urban amenities. The lot has already undergone significant preparation, including clearing of a portion of the land, ensuring a smooth start to your construction project. Furthermore, the seller has proactively addressed essential aspects of the building process. City hookups have been confirmed with the City of Hobart, eliminating potential delays and uncertainties. A soil test has been completed, providing valuable data for your building plans. To further streamline the process, the seller is even offering a pre-existing building plan specifically designed for this lot, though you are welcome to utilize your own preferred design. This property is identified by APN 45-08-25-129-007.000-018. Don't miss this chance to build your ideal home in a peaceful yet accessible location. Priced affordably at $75,000, this lot offers exceptional value and potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.289765
    Latitude
    41.547605

    Comparable in this City

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      13,671 SF

      Large Lot in Quiet Neighborhood

      Spacious lot suitable for modular or manufactured housing.
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    • $2,500,000
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      Expansive Land Parcel in Hobart

      160-acre parcel in Hobart, IN, near Chicago.
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    • $49,900
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      Residential Lot in Hobart, IN

      Buildable lot with public utilities available in Hobart, Indiana.
      282 Crestwood Dr, Hobart, IN 46342
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      0.21 Acres

      Residential Land in Hobart, Indiana

      Land for sale near Hobart middle school.
      753 Fleming St, Hobart, IN 46342
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      Spacious Vacant Land in Hobart

      0.61 acre vacant parcel in Hobart, near shopping and dining.
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    Similar Nearby for Sale

    • $300,000
      Pending

      Renovated Duplex in Hobart, IN

      Two-unit property with updated interiors and new appliances.
      529 Lake St, Hobart, IN 46342
      View Details
    • Contact for pricing
      13,671 SF

      Large Lot in Quiet Neighborhood

      Spacious lot suitable for modular or manufactured housing.
      2600-bl West 38Th Ave, Hobart, IN 46342
      View Details
    • $2,500,000
      160.00 Acres

      Expansive Land Parcel in Hobart

      160-acre parcel in Hobart, IN, near Chicago.
      6363 Grand Blvd, Hobart, IN 46342
      View Details
    • $49,900
      0.19 Acres

      Residential Lot in Hobart, IN

      Buildable lot with public utilities available in Hobart, Indiana.
      282 Crestwood Dr, Hobart, IN 46342
      View Details
    • Contact for pricing
      0.21 Acres

      Residential Land in Hobart, Indiana

      Land for sale near Hobart middle school.
      753 Fleming St, Hobart, IN 46342
      View Details
    • $32,000
      0.61 Acres

      Spacious Vacant Land in Hobart

      0.61 acre vacant parcel in Hobart, near shopping and dining.
      3100 Kosciusko St, Hobart, IN 46342
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,459 SF

      Retail Space in Hobart, IN

      Retail space for lease with high visibility and ample parking.
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      1,367 SF

      Retail Space in Hobart, Indiana

      Retail spaces available with pylon signage and ample parking.
      1721-1737 E 37Th Ave, Hobart, IN 46342
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      Retail Space in Hobart, IN

      Retail spaces available for lease in a high-traffic area.
      1669 E 37Th Ave, Hobart, IN 46342
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      800 SF

      Retail Space on SR 51

      Retail space with high visibility and flexible floor plan.
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      6,670 SF

      Retail Space in Hobart, IN

      Retail spaces available near national retailers with ample parking.
      1721 E 37Th Ave, Hobart, IN 46342
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    • $6 SF/Yr
      7,553 SF

      Spacious Commercial Space in Hobart

      Flexible commercial space with drive-in door and off-street parking.
      813 W Old Ridge Rd, Hobart, IN 46342
      View Details
    View Listing
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    Hobart, IN 46342
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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