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    Property profile & analytics

    5840 Broadway Merrillville, IN 46410-2616

    • Strip malls
    • 13,166 SF
    • 1.16 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US31-0416195
    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

    • Strip malls

    Property Details for 5840 Broadway

    Year built
    2016
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.16 lot acres
    Property size
    13,166 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    45-12-04-428-011.000-030
    APU
    451204428011000030

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.3367
    Latitude
    41.5118
    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
    $36,998
    $225,300
    $1,577,800
    $1,803,100
    -
    $225,300
    $1,577,800
    $1,803,100

    Comparable in this City

    • Value Estimation by Request
      62,174 SF

      205 Lincoln Hwy

      SHOPPING CENTER, STRIP CENTER • 62,174 SF
      205 Lincoln Hwy, Merrillville, IN 46410
      View Details
    • Value Estimation
      $340,000
      4,416 SF

      6004 Broadway, Unit 10

      SHOPPING CENTER, STRIP CENTER • 4,416 SF
      6004 Broadway, Merrillville, IN 46410-2620
      View Details
    • Value Estimation
      $345,000
      6,035 SF

      7750 Broadway, Unit 77

      SHOPPING CENTER, STRIP CENTER • 6,035 SF
      7750 Broadway, Merrillville, IN 46410-4722
      View Details
    • Value Estimation by Request
      17.07 Acres

      92nd Ave

      SHOPPING CENTER, STRIP CENTER • 17.07 Acres
      92nd Ave, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      32,287 SF

      401 81st Ave, Unit 31

      SHOPPING CENTER, STRIP CENTER • 32,287 SF
      401 81st Ave, Merrillville, IN 46410-5317
      View Details
    • Value Estimation by Request
      18,000 SF

      4831 81st Ave, Unit 4941

      SHOPPING CENTER, STRIP CENTER • 18,000 SF
      4831 81st Ave, Merrillville, IN 46410-5841
      View Details

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    Similar Nearby for Lease

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      Merrillville, IN: Prime Retail Space Available
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    • $15 SF/Yr
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      Merrillville Retail Space Available

      Retail space available for lease in Merrillville, Indiana.
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    • $18 SF/Yr
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      Ross Plaza Retail Space Available

      Merrillville, IN retail space; high visibility.
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    Property Visit Statistics

    • Visits by month
      30.0k
    • Visitors by month
      16.5k
    • Avg Time on site
      18 min
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    5840 Broadway
    Merrillville, IN 46410-2616
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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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