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Property profile & analytics
FOR LEASE
Office Spaces
4900 E 15Th Ave Gary, IN 46403
Trust Owned
7-yr Hold
~
Est. High Equity
Property ID
US31-1345095
For Lease
1 / 4
$31,200 SF/Yr
4900 E 15Th Ave, Gary, IN 46403
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2008
Construction
TYPE NOT SPECIFIED
Total area
46,398 SF
Lot
9.07 ac (395,089 SF)
APN
45-07-12-280-008.000-004
UPID
US31-1345095
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
-
Aspire Charter Academy High School
-
Gary school High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.07M
Comparable Approach
Comparable
$5.03M
Blend (final)
Blend
$5.87M
Owner & transaction history
Trust Number 120525 · 7 yrs held
Trust Number 120525
since 2018
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.5M
+11.8%
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 Gary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gary 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%
$7,655,000
6.5%
$7,065,000
7%
$6,560,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,520,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$5.87M
Range $5.28M – $6.46M · ±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
$127 / 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
$273,350
Tax year 2022
Assessed value
$4,992,800
Assessed 2023
Previous assessed
$5,170,700
-3.4% YoY
Effective rate
5.47%
On assessed value
Assessed land
$544,200
Assessed improvement
$4,448,600
Land market value
$544,200
Improvement market value
$4,448,600
Total market value
$4,992,800
Applied tax rate
4.0000
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 Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2008
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
46,398 SF
Lot
9.07 ac (395,089 SF)
APN
45-07-12-280-008.000-004
UPID
US31-1345095
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
RETAIL STORES
Est. value
$3.5M
RETAIL STORES
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
2008
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
9.07 ac
Current owner
From public records · entity-resolved
Trust Number 120525
Trust
Mailing address
3850 BROADMOOR AVE SE STE #210, GRAND RAPIDS, MI 49512-3975
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2019
—
Charter Dev Co LLC
—
Grant Deed
related
$350,000,000 · Pnc Bk
Dec 13, 2018
—
Trust Number 120525
—
Trust Deed
related
$1,850,000 · Tbk Bk Ssb
Sep 24, 2018
—
Trust Number 120525
Trust No 5899
Quitclaim Deed
related
$315,000 · Tbk Bank Ssb
Dec 15, 2016
—
Charter Dev Co LLC
Charter Dev 1 LLC
Quit Claim Deed
related
—
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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