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Property profile & analytics
OFF-MARKET
Estimated value
$5,115,000
Warehouses
4431 Railroad Ave, East Chicago, IN 46312
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US31-0334572
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1942
Construction
TYPE NOT SPECIFIED
Total area
106,752 SF
Lot
12.74 ac (555,129 SF)
APN
45-03-29-276-004.000-024
UPID
US31-0334572
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
$5.30M
Blend (final)
Blend
$5.12M
Owner & transaction history
East Chicago Railroad LLC · 6 yrs held
East Chicago Railroad LLC
since 2020
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.1M
+1.8%
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 East Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Chicago 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
WAREHOUSE, STORAGE
$7,960,000
Current use
RETAIL STORES
$8,105,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,800,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$5.12M
Range $4.60M – $5.63M · ±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
$48 / 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
$174,299
Tax year 2022
Assessed value
$7,725,000
Assessed 2023
Previous assessed
$3,985,500
+93.8% YoY
Effective rate
2.26%
On assessed value
Assessed land
$2,982,100
Assessed improvement
$4,742,900
Land market value
$2,982,100
Improvement market value
$4,742,900
Total market value
$7,725,000
Applied tax rate
24.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1942
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
2
Total area
106,752 SF
Lot
12.74 ac (555,129 SF)
APN
45-03-29-276-004.000-024
UPID
US31-0334572
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
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$8.0M
RETAIL STORES
Est. value
$8.1M
COMMERCIAL (GENERAL)
Est. value
$6.8M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
1942
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
2
Lot
12.74 ac
Current owner
From public records · entity-resolved
East Chicago Railroad LLC
Entity
Mailing address
4020 KINROSS LKS PKWY, RICHFIELD, OH 44286-9084
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2020
—
East Chicago Railroad LLC
4407 Railroad Ave LLC
Special Warranty Deed
$17,560,000 · The Huntington National Bank
Jun 15, 2017
—
4407 Railroad Ave LLC
—
Deed
related
$159,000 · Peoples Bank
Jul 16, 2007
—
4407 Railroad Holdings LLC
Cjf4 LLC
Grant Deed
related
—
Jul 12, 2006
—
Cjf4 LLC
Centerpoint East Chicago LLC
Grant Deed
$170,000,000 · Northwestern Mutual Life Ins
Oct 27, 2004
—
Centerpoint East Chicago LLC
Enterprise Center IV
Quit Claim Deed
related
—
—
—
Duke 4407 Holdings LLC
—
Loan Modification
related
$6,000,000 · Tcf Nat'l Bk
—
—
Duke 4407 Holdings LLC
—
Loan Modification
related
$6,000,000 · Tcf Nat'l Bk
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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