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    Property profile & analytics

    4651 61st Ave Hobart, IN 46342-6467

    • Turn key restaurants
    • 2,740 SF
    • 1.12 lot acres
    OFF-MARKET
    Value Estimation
    $180,000
    Last Sale
    Oct 30, 2023
    $166,755
    Location Intelligence
    Property ID
    US31-0712031
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Arby's / Sandwich Shop / Fast Food Restaurant

    Property Details for 4651 61st Ave

    Year built
    1999
    Lot size
    1.12 lot acres
    Property size
    2,740 SF
    Zone code
    R33
    Property type
    Turn key restaurants
    APN
    45-12-11-101-004.000-046
    APU
    451211101004000046

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $165,000

    • CAP approach

      CAP return
      Estimation
      6%
      $230,000
      6.5%
      $245,000
      7%
      $240,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $235,000
      Geo Method
      $240,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $235,000
      Retail
      $180,000
      Mixed-Use
      $235,000
      Hospitality
      $180,000
      Educational
      $215,000
      Residential Income
      $195,000
      Energy
      $195,000
      Income-Based Land
      $200,000
      Food Service
      $210,000

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.3146
    Latitude
    41.5067
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $20,292
    $488,800
    $311,900
    $800,700
    -
    $488,800
    $311,900
    $800,700

    Comparable in this City

    • Value Estimation by Request
      0.02 Acres

      3821 37th Ave

      RESTAURANT • 0.02 Acres
      3821 37th Ave, Hobart, IN 46342-1671
      View Details
    • Value Estimation by Request
      0.11 Acres

      3821 37th Ave

      RESTAURANT • 0.11 Acres
      3821 37th Ave, Hobart, IN 46342-1671
      View Details
    • Value Estimation by Request
      3,356 SF

      715 Hobart Rd

      RESTAURANT • 3,356 SF
      715 Hobart Rd, Hobart, IN 46342-2445
      View Details
    • Value Estimation
      $100,000
      3,278 SF

      4500 61st Ave

      RESTAURANT • 3,278 SF
      4500 61st Ave, Hobart, IN 46342-6474
      View Details
    • Value Estimation by Request
      2,952 SF

      1475 Lk Park Ave

      RESTAURANT • 2,952 SF
      1475 Lk Park Ave, Hobart, IN 46342-6635
      View Details
    • Value Estimation by Request
      2,358 SF

      7770 Rdg Rd

      RESTAURANT • 2,358 SF
      7770 Rdg Rd, Hobart, IN 46342-2467
      View Details

    Similar Nearby for Sale

    • $599,900
      4,753 SF

      Hobart Restaurant & Bar for Sale

      Prime Hobart location, high traffic, liquor license.
      3700 Montgomery St, Hobart, IN 46342
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    • $299,000
      Pending

      Remodeled Retail/Office Space in Hobart

      Newly remodeled commercial property in downtown Hobart near Lake George.
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      Hobart Retail Outlots

      Three prime retail outlots near St. Mary's Medical Center.
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    • $2,153,000

      Retail Property for Sale

      Retail property available for purchase in Hobart, Indiana.
      4651 W 61St Ave, Hobart, IN 46342
      View Details
    • $475,000
      2,648 SF

      Retail Property in Hobart, Indiana

      Retail property with 46,609 sqft space in Hobart, Indiana.
      11 N Hobart Rd, Hobart, IN 46342
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    • $399,900
      0.13 Acres

      Downtown Hobart Retail Gem

      Large retail space, prime location, updated.
      530 3Rd St, Hobart, IN 46342
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    Similar Nearby for Lease

    • $1,500 /Mo
      960 SF

      Downtown Hobart Retail/Office Space

      Corner retail/office space in downtown Hobart with high visibility.
      347 Main St, Hobart, IN 46342
      View Details
    • $12 SF/Yr
      1,500 SF

      Retail Space in Hobart Center

      Retail space available in The Pavilions of Hobart.
      1417-1461 S Lake Park Ave, Hobart, IN 46342
      View Details
    • Contact for pricing
      5,459 SF

      Retail Space in Hobart, IN

      Retail space for lease with high visibility and ample parking.
      295 S Wisconsin St, Hobart, IN 46342
      View Details
    • $10 SF/Yr
      1,086 SF

      Retail Space in Hobart Center

      Retail space for lease in Pavilions of Hobart.
      190-194 Bracken Pkwy, Hobart, IN 46342
      View Details
    • Contact for pricing
      1,367 SF

      Retail Space in Hobart, Indiana

      Retail spaces available with pylon signage and ample parking.
      1721-1737 E 37Th Ave, Hobart, IN 46342
      View Details
    • $14 SF/Yr
      182,337 SF

      North Ridge Center Retail Space

      Lake County retail space, multiple units available.
      7760 Ridge Rd, Hobart, IN 46342
      View Details

    Property Visit Statistics

    • Visits by month
      11.9k
    • Visitors by month
      8.7k
    • Avg Time on site
      12 min
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    Hobart, IN 46342-6467
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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