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Property profile & analytics
OFF-MARKET
Residential income homes
416 Commercial Ave Lowell, IN 46356-1815
Entity Owned
3-yr Hold
Property ID
US31-0234814
Property summary
AI-generated overview
This exceptional 6,256 square foot, two-story commercial property, located at 416 E Commercial Ave in Lowell, Indiana, presents a unique investment opportunity. Currently configured as a single-tenant space, it offers 1,450 square feet of immediately available retail/office space. The layout includes a retail storefront, a bullpen area, four private offices, and two restrooms, providing ample space for a variety of businesses. The building is classified as Class B and sits on a 0.1-acre lot in a high-traffic area of downtown Lowell. The property is zoned TC and is conveniently located in the heart of Lowell, a town with a population of 10,680 (2020 Census) in Lake County, Indiana, zip code 46356. The building's prime location ensures excellent visibility and accessibility for customers and employees. This property is ideal for businesses seeking a well-established presence in a thriving community. The remaining 4,806 square feet is currently occupied. Serious inquiries only.
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1896
Construction
WOOD
Total area
6,256 SF
Lot
0.13 ac (5,532 SF)
APN
45-19-23-456-006.000-008
UPID
US31-0234814
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
416 Commercial LLC · 3 yrs held
416 Commercial LLC
since 2023
2 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 Lowell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lowell 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,845
Tax year 2022
Assessed value
$188,700
Assessed 2023
Previous assessed
$188,700
+0.0% YoY
Effective rate
2.04%
On assessed value
Assessed land
$33,300
Assessed improvement
$155,400
Land market value
$33,300
Improvement market value
$155,400
Total market value
$188,700
Applied tax rate
8.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1896
Construction
WOOD
Heating
NONE
Stories
2
Units
4
Total area
6,256 SF
Lot
0.13 ac (5,532 SF)
APN
45-19-23-456-006.000-008
UPID
US31-0234814
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
Building & site characteristics
From public records
Year built
1896
Construction
WOOD
Heating
NONE
Stories
2
Units
4
Lot
0.13 ac
Current owner
From public records · entity-resolved
416 Commercial LLC
Entity
Mailing address
220 W GLN PARK AVE, GRIFFITH, IN 46319-1508
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2023
—
416 Commercial LLC
Dave Alger
Deed
$336,000 · Dave Alger Living Trust
Jan 25, 2012
—
Alger Dave Living Trust
Alger,dave & Judy
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.
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