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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Retail space
504 165th St 8 Hammond, IN 46324-1309
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-1213458
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1953
Construction
TYPE NOT SPECIFIED
Total area
19,747 SF
Lot
1.15 ac (50,007 SF)
APN
45-06-12-202-001.000-023
UPID
US31-1213458
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
-
Dollar General Discount Store
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$715k
Blend (final)
Blend
$765k
Owner & transaction history
165th Properties LLC · 3 yrs held
165th Properties LLC
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Hammond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hammond 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
$490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$765k
Range $689k – $842k · ±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
$39 / 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
$22,285
Tax year 2022
Assessed value
$591,000
Assessed 2023
Previous assessed
$605,600
-2.4% YoY
Effective rate
3.77%
On assessed value
Assessed land
$113,700
Assessed improvement
$477,300
Land market value
$113,700
Improvement market value
$477,300
Total market value
$591,000
Applied tax rate
23.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1953
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
19,747 SF
Lot
1.15 ac (50,007 SF)
APN
45-06-12-202-001.000-023
UPID
US31-1213458
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
Building & site characteristics
From public records
Year built
1953
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
165th Properties LLC
Entity
Mailing address
506 165TH ST, HAMMOND, IN 46324-1309
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2022
—
165th Properties LLC
165th Development INC
Special Warranty Deed
$1,600,000 · Old Plank Trail Community Bank NA
Jul 17, 2009
—
165th Dev INC
—
Deed Of Trust
related
$1,513,586 · Broadway Bank
Jan 5, 2009
—
165th Dev INC
—
Trustees Deed
related
$330,000 · Broadway Bank
Sep 22, 2008
—
165th Dev INC
—
Trustees Deed
related
$749,300 · Broadway Bank
May 22, 2007
—
165th Dev INC
Berry,jill
Warranty Deed
$750,000 · Broadway Bank
—
—
165th Dev INC
—
Deed Of Trust
related
$1,100,000 · International Bank Of Chicago
—
—
165th Dev INC
—
Deed Of Trust
related
$323,223 · Mb Financial Bank NA
—
—
165th Dev INC
—
Deed Of Trust
related
$250,000 · International Bk/chicago
—
—
165th Dev INC
—
Deed Of Trust
related
$734,381 · Mb Financial Bank 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.
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