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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Office Spaces
402 Indian Boundary Rd Chesterton, IN 46304-1513
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-0098901
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2009
Construction
WOOD
Total area
3,128 SF
Lot
0.46 ac (20,038 SF)
APN
64-04-31-156-003.000-023
UPID
US31-0098901
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
$580k
CAP Approach
CAP
$440k
Comparable Approach
Comparable
$409k
Blend (final)
Blend
$560k
Owner & transaction history
Fb Indiana LLC · 3 yrs held
Fb Indiana LLC
since 2023
Last sale
$737,500
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 Chesterton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesterton 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
$625,000
ML approach
$580,000
CAP Approach
CAP Return
Estimation
6%
$480,000
6.5%
$440,000
7%
$410,000
Blend value · Realmo final
$560k
Range $504k – $616k · ±10% · vs last sale $738k (Apr 13 2023)
Last sale anchor
$738k
Apr 13 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
$179 / 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
$13,419
Tax year 2023
Assessed value
$528,500
Assessed 2023
Previous assessed
$528,500
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$197,800
Assessed improvement
$330,700
Land market value
$197,800
Improvement market value
$330,700
Total market value
$528,500
Applied tax rate
10.0000
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
2009
Construction
WOOD
Heating
NONE
Stories
1
Total area
3,128 SF
Lot
0.46 ac (20,038 SF)
APN
64-04-31-156-003.000-023
UPID
US31-0098901
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
Building & site characteristics
From public records
Year built
2009
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Fb Indiana LLC
Entity
Mailing address
3233 S CANAL ST, CHICAGO, IL 60616-3509
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2023
$737,500
Fb Indiana LLC
J & J Prop INC
Special Warranty Deed
$975,000 · Centier Bank
Nov 16, 2022
—
J & J Prop INC
—
Deed
related
$3,135,000 · Lake City Bank
Oct 4, 2022
$690,000
J & J Prop INC
Manitou Holdings Group LLC
Special Warranty Deed
—
May 11, 2009
—
Manitou Holdings Group LLC
Pizza Hut Of America INC
Special Warranty Deed
$100,000 · Community First Bank Of Howard Coun
Sep 21, 2006
—
Pizza Hut Of America INC
Pizza Hut Of America INC
Quit Claim Deed
—
—
—
Manitou Holdings Group LLC
—
Deed Of Trust
related
$850,000 · Community First Bank
—
—
Manitou Holdings Group
—
Deed Of Trust
related
$464,000 · Laporte Savings Bank
—
—
Manitou Holdings Group LLC
—
Deed Of Trust
related
$412,568 · Community First Bk/in
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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