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Property profile & analytics
OFF-MARKET
Office Spaces
534 37th Ave Hobart, IN 46342-2263
Individually Owned
1-yr Hold
Free & Clear
Property ID
US31-0415932
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1957
Construction
WOOD
Total area
527 SF
Lot
11.39 ac (496,061 SF)
APN
45-09-19-457-004.000-020
UPID
US31-0415932
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
-
Mary Rose Tax Service Tax Preparation
-
R & F TAX SERVICE LLC Accounting Firm Tax Preparation
-
Ashphalt Solutions General Contractor Construction Company
-
Ravinia Pines Campground & RV Park
-
Art By Novae Artist
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
Dalia K Ortiz · 1 yrs held
Dalia K Ortiz
since 2025
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 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
$40,663
Tax year 2022
Assessed value
$1,250,300
Assessed 2023
Previous assessed
$1,249,700
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$744,100
Assessed improvement
$506,200
Land market value
$744,100
Improvement market value
$506,200
Total market value
$1,250,300
Applied tax rate
20.0000
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
Off-Market
Year built
1957
Construction
WOOD
Heating
NONE
Stories
1
Total area
527 SF
Lot
11.39 ac (496,061 SF)
APN
45-09-19-457-004.000-020
UPID
US31-0415932
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
1957
Construction
WOOD
Heating
NONE
Stories
1
Lot
11.39 ac
Current owner
From public records · entity-resolved
Dalia K Ortiz
Individual
Free & Clear · 1 yrs held
Mailing address
900 SKOKIE BLVD STE #213, NORTHBROOK, IL 60062-4042
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2025
—
Dalia K Ortiz
Hector R Ortiz Otero
Deed
related
—
Aug 1, 2019
—
Ravinia Pines Mhc LLC
Mrr 2036 S Michigan LLC
Trustees Deed
$25,950,000 · Berkadia Com'l Mtg
Dec 4, 2017
—
Mrr 2036 S Michigan LLC
—
Loan Modification
related
$14,000,000 · Associated Bk NA
Apr 28, 2016
—
Mrr 2036 S Michigan LLC
Sage Investments INC
Grant Deed
—
Jan 16, 2015
—
Sage Investments INC
Sage Investments 2 INC
Quit Claim Deed
related
—
Dec 29, 2014
—
Mrr 2036 S Michigan LLC
Sage Investments INC
Warranty Deed
$7,500,000 · Associated Bank NA
Dec 12, 2014
—
Sage Investments INC
Sage Investments 2 INC
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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