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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Showrooms
3903 83rd Pl, Merrillville, IN 46410-6062
Entity Owned
14-yr Hold
Free & Clear
Property ID
US31-3575790
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2006
Construction
WOOD
Total area
16,032 SF
Lot
1 ac (43,560 SF)
Zoning code
R33
APN
45-12-19-378-005.000-030
UPID
US31-3575790
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
-
Sherwin-Williams Automotive Finishes Hardware & Home Improvement Building Supply
-
NM Enterprise's Energy Solutions General Contractor Renovation Specialist
-
J&J Heating Inc. HVAC Service General Contractor
-
Any Time Towing Auto Repair Shop
-
M & M Total Turf Care Landscaping
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.16M
Owner & transaction history
Brs 43 LLC · 14 yrs held
Brs 43 LLC
since 2011
5 recorded transactions
Zoning & alternative use
R33 · Merrillville, IN
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
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
COMMERCIAL (GENERAL)
$1,475,000
Current use
RETAIL STORES
$1,215,000
Change: -17% · Conversion: Easy
WAREHOUSE, STORAGE
$1,195,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±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
$18,621
Tax year 2022
Assessed value
$891,100
Assessed 2023
Previous assessed
$891,400
0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$110,400
Assessed improvement
$780,700
Land market value
$110,400
Improvement market value
$780,700
Total market value
$891,100
Applied tax rate
30.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2006
Construction
WOOD
Heating
NONE
Stories
1
Total area
16,032 SF
Lot
1 ac (43,560 SF)
Zoning code
R33
APN
45-12-19-378-005.000-030
UPID
US31-3575790
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R33 · Merrillville, IN
Zoning R33 · permitted uses
R33 · Merrillville, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Merrillville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
RETAIL STORES
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.2M
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
2006
Construction
WOOD
Heating
NONE
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
Brs 43 LLC
Entity
Free & Clear · 14 yrs held
Mailing address
MERRILLVILLE, IN 46410
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2018
—
Brs 43 LLC
—
Deed
related
$520,000 · Peoples Bank Sb
Jul 8, 2011
—
Brs 43 LLC
R & S Developers LLC
Quit Claim Deed
related
—
Oct 15, 2007
—
R & S Developers LLC
Trust 1468
Grant Deed
$800,000 · First Midwest Bank
Mar 12, 2004
—
Trust 1468
Mcquen,troy & Kelly
Warranty Deed
related
—
—
—
R & S Developers LLC
—
Deed Of Trust
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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