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Property profile & analytics
FOR SALE
Turn key restaurants
4651 W 61St Ave Hobart, IN 46342
Entity Owned
2-yr Hold
Free & Clear
Property ID
US31-0712031
For Sale
1 / 4
$2,373,000
4651 W 61St Ave, Hobart, IN 46342
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1999
Total area
2,740 SF
Lot
1.12 ac (48,657 SF)
Zoning code
R33
APN
45-12-11-101-004.000-046
UPID
US31-0712031
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
-
Arby's Restaurant Take-out & Catering
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
City Of Hobart Indiana · 2 yrs held
City Of Hobart Indiana
since 2023
Last sale
$166,755
7 recorded transactions
Zoning & alternative use
R33 · Hobart, 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 Hobart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hobart 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
$20,292
Tax year 2022
Assessed value
$800,700
Assessed 2023
Previous assessed
$781,000
+2.5% YoY
Effective rate
2.53%
On assessed value
Assessed land
$488,800
Assessed improvement
$311,900
Land market value
$488,800
Improvement market value
$311,900
Total market value
$800,700
Applied tax rate
46.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1999
Heating
NONE
Stories
1
Total area
2,740 SF
Lot
1.12 ac (48,657 SF)
Zoning code
R33
APN
45-12-11-101-004.000-046
UPID
US31-0712031
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R33 · Hobart, INZoning R33 · permitted uses
R33 · Hobart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
CHAPTER 154: ZONING
Building & site characteristics
From public records
Year built
1999
Heating
NONE
Stories
1
Lot
1.12 ac
Current owner
From public records · entity-resolved
City Of Hobart Indiana
Entity
Free & Clear · 2 yrs held
Mailing address
100 N SENATE AVEB758-RE, INDIANAPOLIS, IN 46204-2273
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2023
—
City Of Hobart Indiana
Miracle Restaurent Group LLC
Quit Claim Deed
related
—
Oct 23, 2023
$166,755
City Of Hobart Indiana
Lel Holdings LLC
Warranty Deed
—
Jul 19, 2018
—
Lel Holding LLC
—
Deed
related
$120,291 · Dieterich Bk NA
Sep 18, 2015
—
Lel Holdings LLC
P And T Ltd
Special Warranty Deed
$1,110,000 · Dieterich Bank NA
May 17, 2004
—
P & T Ltd
Millco-hobart LLC
Grant Deed
$1,050,000 · Fifth Third Bank Chicago
Jan 16, 2004
—
Millco-hobart LLC
Chi-co INC
Grant Deed
$900,000 · Fifth Third Bank Chicago
—
—
P & T Ltd
—
Deed Of Trust
related
$1,050,000 · Fifth Third Bank Chicago
—
—
Lel Holding LLC
—
Loan Modification, Consolidation And Extension
related
$120,291 · Dieterich Bk NA
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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