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Property profile & analytics
FOR LEASE
Office buildings
425 Joliet St Dyer, IN 46311
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-0038450
For Lease
1 / 16
$680,000
425 Joliet St, Dyer, IN 46311
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2004
Construction
TYPE NOT SPECIFIED
Total area
56,803 SF
Lot
0.98 ac (42,689 SF)
Zoning code
R3
APN
45-10-12-454-009.000-034
UPID
US31-0038450
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
-
Eco Chic Boutique Discount Store (Bike/Boat/Book/etc) Store
-
M&L Medical Supplies Medical Supply Store
-
Koransky, Bouwer & Poracky, P.C. Law Firm
-
Wayne Mrjenovich DDS Dental Office
-
Pallone Jennifer A DO Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$628k
Blend (final)
Blend
$680k
Owner & transaction history
Tenet Equity Funding Spe I LLC · 3 yrs held
Tenet Equity Funding Spe I LLC
since 2023
7 recorded transactions
Zoning & alternative use
R3 · Dyer, IN
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 Dyer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dyer 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
$730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$685,000
Current use
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$12 / 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
$1,175
Tax year 2022
Assessed value
$51,900
Assessed 2023
Previous assessed
$51,600
+0.6% YoY
Effective rate
2.26%
On assessed value
Assessed land
$2,900
Assessed improvement
$49,000
Land market value
$2,900
Improvement market value
$49,000
Total market value
$51,900
Applied tax rate
34.0000
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 buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
2004
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Total area
56,803 SF
Lot
0.98 ac (42,689 SF)
Zoning code
R3
APN
45-10-12-454-009.000-034
UPID
US31-0038450
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R3 · Dyer, INZoning R3 · permitted uses
R3 · Dyer, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
ARTICLE 4. ZONING.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$685,000
OFFICE BUILDING Current
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
2004
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Lot
0.98 ac
Current owner
From public records · entity-resolved
Tenet Equity Funding Spe I LLC
Entity
Mailing address
425 JOLIET ST STE 217B, DYER, IN 46311-1770
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2023
—
Tenet Equity Funding Spe I LLC
Pain And Spine Properties LLC
Special Warranty Deed
$400,000,000 · Citibank NA
Jan 24, 2022
—
Pain And Spine Properties LLC
Apac Real Estate Partners LLC
Special Warranty Deed
—
Sep 2, 2020
—
Tm & V LLC
Youche Country Club INC
Warranty Deed
related
—
Aug 20, 2020
$19,679
Galleria Reality Corp
Marshall Of Lake County|fozzard,jerry
Deed
—
Apr 26, 2019
—
Mg Joliet Street LLC
Minotti,mario P
Warranty Deed
—
Mar 18, 2019
$90,000
Mario P Minotti
Trust No 6072
Grant Deed
—
Feb 2, 2018
—
Galleria Realty Corp
Trust 5593
Grant Deed
related
—
Aug 17, 2017
$165,000
Galleria Realty Corp
Med Properties Dyer I LLC
Warranty Deed
—
Jun 5, 2013
—
Timothy G Fesko
Gori Syed Agency INC
Warranty Deed
$71,250 · Peoples Bank
Aug 31, 2004
—
Gori Syed Agency INC
Galleria Realty Corp
Warranty Deed
$88,500 · Peoples Bank
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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