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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Office buildings
425 Joliet St Dyer, IN 46311-1765
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US31-0730415
Property summary
AI-generated overview
This exceptional medical office building in Dyer, IN, offers 5,500 square feet of vacant space within a larger 56,800 square foot complex. Located at 425 Joliet St (near Church St), this single-tenant property features nine exam rooms, one x-ray room, private and bullpen offices, a nurse station, conference room, kitchenette, waiting room, and reception area. The building, constructed in 2004, boasts two buildings with four stories each and includes one elevator. The 0.98-acre lot is zoned for Downtown District use (APN: 45-10-12-454-005.000-034). This efficient layout provides convenient access for staff and patients. Tenant improvement allowances may be available depending on lease terms. The property is available Monday through Thursday. This is a highly competitive opportunity to establish or expand a medical practice in a desirable location. The space is ideal for a variety of medical specialties. The building's prime location and flexible pricing make this an attractive investment.
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
45-10-12-454-005.000-034
UPID
US31-0730415
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
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$731k
Blend (final)
Blend
$665k
Owner & transaction history
Galleria · 18 yrs held
Galleria
since 2008
1 recorded transaction
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
$595,000
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
$665k
Range $599k – $732k · ±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
$8,227
Tax year 2022
Assessed value
$363,300
Assessed 2023
Previous assessed
$361,300
+0.6% YoY
Effective rate
2.26%
On assessed value
Assessed land
$20,600
Assessed improvement
$342,700
Land market value
$20,600
Improvement market value
$342,700
Total market value
$363,300
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
Off-Market
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
45-10-12-454-005.000-034
UPID
US31-0730415
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
Galleria
Individual
Mailing address
425 JOLIET ST STE #410, DYER, IN 46311-1768
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2008
—
Galleria
—
Deed Of Trust
related
$3,826,746 · First Dupage 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.
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