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    501 Joliet St Dyer, IN 46311-1716
    Property profile & analytics

    501 Joliet St, Dyer, IN 46311-1716

    View on Map
    • Grocery and convenience stores
    • 2,112 SF
    • 2.33 lot acres
    Off-Market
    Property ID
    US31-0636535
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ridgeway Vi / Consultant
    • Exxon Gas Station Car Wash / Car Wash
    • Exxon / Gas Station
    • Circle K / Car Wash

    Property Details for 501 Joliet St

    Year built
    1999
    Construction
    WOOD
    Lot size
    2.33 lot acres
    Zone code
    R33
    Property type
    Grocery and convenience stores
    APN
    45-10-12-455-012.000-034
    APU
    451012455012000034

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 1, 2024 — Smith Brothers Realty II LLC — Deed · related $1.6M · Peoples Bank
    Sep 22, 2022 — Ridgeway Petroleum INC — Deed · related $1.1M · Peoples Bank
    Oct 15, 2020 — Smith Brothers Realty II LLC — Deed Of Trust · related $5.1M · Peoples Bk
    Nov 20, 2019 — Smith Brothers Realty II LLC — Grant Deed · related $1.6M · Peoples Bk
    Nov 29, 2018 — Smith Brothers Realty INC — Deed · related —
    Sep 27, 2017 — Smith Brothers Realty INC — Grant Deed · related $5.4M · Peoples Bk
    Jul 13, 2016 — Smith Brothers Realty INC — Deed · related $500k · Peoples Bk
    Oct 13, 2009 — Smith Brothers Realty II LLC — Deed Of Trust · related $7.5M · First Midwest Bank
    — — Smith Brothers Realty INC — Loan Modification · related —
    — — Smith Brothers Realty II LLC — Deed Of Trust · related —
    — — Smith Brothers Realty INC — Deed Of Trust · related $500k · Peoples Bk
    — — Smith Brothers Realty INC — Deed Of Trust · related $266k · Peoples Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dyer
    County
    Lake
    State
    Indiana
    Longitude
    -87.5161
    Latitude
    41.4944
    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
    $44,782
    $1,214,800
    $967,400
    $2,182,200
    -
    $1,214,800
    $967,400
    $2,182,200

    Comparable in this City

    • Value Estimation
      $860,000
      4,548 SF

      718 Joliet St

      CONVENIENCE STORE
      718 Joliet St, Dyer, IN 46311-1720
      View Details
    • Value Estimation by Request
      816 SF

      1240 Sheffield Ave

      CONVENIENCE STORE (W/FUEL PUMP)
      1240 Sheffield Ave, Dyer, IN 46311-1053
      View Details
    • Value Estimation
      $930,000
      4,763 SF

      3 Joliet St

      CONVENIENCE STORE
      3 Joliet St, Dyer, IN 46311-1701
      View Details
    • Value Estimation
      $755,000
      3,936 SF

      1085 Joliet St

      CONVENIENCE STORE
      1085 Joliet St, Dyer, IN 46311-1924
      View Details
    • Value Estimation
      $755,000
      3,767 SF

      630 Joliet St

      CONVENIENCE STORE
      630 Joliet St, Dyer, IN 46311-1717
      View Details
    • Value Estimation
      $600,000
      2,829 SF

      1502 Sheffield Ave

      CONVENIENCE STORE
      1502 Sheffield Ave, Dyer, IN 46311-1552
      View Details

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      Retail Space For Sale

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      2,547 SF

      Former Bank Building with Drive-Thru

      2547 SF former bank with drive-thru on corner lot.
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    • $884,900
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      Sheffield Ave Restaurant/Bar for Sale

      Turnkey Dyer, IN Restaurant & Bar
      1209 Sheffield Ave, Dyer, IN 46311
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    Similar Nearby for Lease

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      2,918 SF

      Dyer Mixed-Use Retail/Office Space

      Two-story building in Dyer/St. John area with flexible floor plan.
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      View Details
    • $28 SF/Yr
      8,484 SF

      Drive-Through Retail Space

      Brand-new retail center offering one remaining unit with drive-through availability in a B-1 zoned setting.
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    • Contact for pricing
      3,121 SF

      Retail Space with Ample Parking

      Retail property featuring updated exterior and 66 parking spaces.
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      Dyer Retail and Office Space

      Mixed-use building with retail and office spaces for lease.
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    • Contact for pricing
      1,380 SF

      Retail Space in Dyer Center

      Retail space for lease in Dyer, Indiana near Chicago.
      871-879 Joliet St, Dyer, IN 46311
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      1,246 SF

      Restaurant Unit For Rent

      1,246 SF quick service restaurant unit for lease.
      10107 Mondorf St, Dyer, IN 46311
      View Details

    Property Visit Statistics

    • Visits by month
      12.4k
    • Visitors by month
      7.5k
    • Avg Time on site
      11 min
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    Dyer, IN 46311-1716
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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