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    Property profile & analytics

    563 S Lake St Gary, IN 46403

    • Commercial real estate
    • 3,900 SF
    • 0.07 lot acres
    For Sale
    View listing
    $285,000
    Value Estimation
    Last Sale
    Aug 25, 2022
    Location Intelligence
    Property ID
    US31-0407221
    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.

    Current Use by Public Records

    • CDM Smith Inc. / Engineering Consultant
    • Lee Companies / Construction Company / General Contractor

    Property Details for 563 S Lake St

    Year built
    1939
    Construction
    WOOD
    Lot size
    0.07 lot acres
    Property size
    3,900 SF
    Property type
    Commercial real estate
    APN
    45-09-06-404-008.000-004
    APU
    450906404008000004

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $240,000

    • CAP approach

      CAP return
      Estimation
      6%
      $335,000
      6.5%
      $280,000
      7%
      $330,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $270,000
      Geo Method
      $295,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $270,000
      Retail
      $280,000
      Mixed-Use
      $265,000
      Hospitality
      $340,000
      Educational
      $285,000
      Residential Income
      $305,000
      Energy
      $340,000
      Income-Based Land
      $310,000
      Food Service
      $355,000

    Location Insight

    • Map
    • Local Demand
    City
    Gary
    County
    Lake
    State
    Indiana
    Longitude
    -87.2671
    Latitude
    41.6005
    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
    $4,217
    $4,000
    $73,000
    $77,000
    -
    $4,000
    $73,000
    $77,000

    Comparable in this City

    • Value Estimation by Request
      0.86 Acres

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    • Value Estimation by Request
      720 SF

      508 Lk St

      COMMERCIAL (GENERAL) • 720 SF
      508 Lk St, Gary, IN 46403-2407
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      210 Grand Blvd

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      210 Grand Blvd, Gary, IN 46403-1903
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    • Value Estimation by Request
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      301 Grand Blvd

      COMMERCIAL (GENERAL) • 3,312 SF
      301 Grand Blvd, Gary, IN 46403-2323
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    • Value Estimation
      $395,000
      8,910 SF

      7500 Melton Rd

      COMMERCIAL (GENERAL) • 8,910 SF
      7500 Melton Rd, Gary, IN 46403-3147
      View Details
    • Value Estimation
      $300,000
      1,875 SF

      6133 Miller Ave

      COMMERCIAL (GENERAL) • 1,875 SF
      6133 Miller Ave, Gary, IN 46403-2470
      View Details

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    Similar Nearby for Lease

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    563 S Lake St
    Gary, IN 46403
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
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