New search
Property profile & analytics
OFF-MARKET
Estimated value
$795,000
Office Spaces
3801 Lincoln Hwy, Merrillville, IN 46410-5809
Entity Owned
2-yr Hold
Free & Clear
Property ID
US31-1124040
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1978
Construction
TYPE NOT SPECIFIED
Total area
11,974 SF
Lot
1.8 ac (78,408 SF)
APN
45-12-24-302-005.000-046
UPID
US31-1124040
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$760k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.11M
Blend (final)
Blend
$795k
Owner & transaction history
Pulse Tech Properties III LLC · 2 yrs held
Pulse Tech Properties III LLC
since 2023
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Merrillville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merrillville 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
$605,000
ML approach
$760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,100,000
Current use
RETAIL STORES
$910,000
Change: -17% · Conversion: Easy
WAREHOUSE, STORAGE
$895,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$795k
Range $716k – $875k · ±10% · vs last sale $900k (Jun 12 2023)
Last sale anchor
$900k
Jun 12 2023
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
$66 / 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
$22,085
Tax year 2022
Assessed value
$850,000
Assessed 2023
Previous assessed
$850,000
+0.0% YoY
Effective rate
2.60%
On assessed value
Assessed land
$514,000
Assessed improvement
$336,000
Land market value
$514,000
Improvement market value
$336,000
Total market value
$850,000
Applied tax rate
46.0000
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
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
11,974 SF
Lot
1.8 ac (78,408 SF)
APN
45-12-24-302-005.000-046
UPID
US31-1124040
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
COMMERCIAL (GENERAL) Current
Est. value
$1.1M
RETAIL STORES
Est. value
$910,000
WAREHOUSE, STORAGE
Est. value
$895,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.8 ac
Current owner
From public records · entity-resolved
Pulse Tech Properties III LLC
Entity
Free & Clear · 2 yrs held
Mailing address
201 COMMERCE DR, SCHAUMBURG, IL 60173-5338
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2023
—
Pulse Tech Properties III LLC
—
Deed
related
$1,350,000 · First American Bank
Jul 12, 2023
—
Pulse Tech Properties III LLC
Pulse Technology Properties 1llc
Re-recorded Document
related
—
Jun 12, 2023
—
Pulse Tech Properties III LLC
Pulse Techonoloy Properties 1llc
Intrafamily Transfer
related
—
Jul 11, 2022
$900,000
Pulse Technology Properties 1 LLC
Mohammed Firas Zeitoun
Deed
—
Jul 27, 2021
—
Mohamed Firas Zeitoun
Samar Kebbewar
Intrafamily Transfer
related
—
Mar 8, 2019
—
Zeitoun Trust
Kebbewar,samar
Quit Claim Deed
related
—
Jun 22, 2016
$850,000
Samar Kebbewar
Steven A Felsenthal
Grant Deed
related
—
Sep 4, 2014
—
Meyer-horwitz 2014 Trust
Meyer Harriet 2010 Trust
Quit Claim Deed
related
—
Mar 12, 2013
—
Meyer Harriet 2010 Family Trust
Meyer Ulrich E Trust
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3801 Lincoln Hwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
