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Property profile & analytics
OFF-MARKET
Estimated value
$2,825,000
Office Spaces
5901 7th Ave Gary, IN 46406-1311
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-0710960
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1967
Construction
TYPE NOT SPECIFIED
Total area
121,236 SF
Lot
4.66 ac (202,859 SF)
APN
45-07-01-353-011.000-004
UPID
US31-0710960
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
-
Somerville Tolanda Physician
-
Little Treasures Childcare Daycare Center
-
Lisa Previs Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.12M
Blend (final)
Blend
$2.83M
Owner & transaction history
Aleksandar Ristevski · 1 yrs held
Aleksandar Ristevski
since 2024
5 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 Gary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gary 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.83M
Range $2.54M – $3.11M · ±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
$23 / 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
$416,106
Tax year 2022
Assessed value
$746,500
Assessed 2023
Previous assessed
$325,000
+129.7% YoY
Effective rate
55.74%
On assessed value
Assessed land
$124,600
Assessed improvement
$621,900
Land market value
$124,600
Improvement market value
$621,900
Total market value
$746,500
Applied tax rate
4.0000
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
1967
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
121,236 SF
Lot
4.66 ac (202,859 SF)
APN
45-07-01-353-011.000-004
UPID
US31-0710960
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
1967
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
4.66 ac
Current owner
From public records · entity-resolved
Aleksandar Ristevski
Individual
Mailing address
7428 E PO BOX 641216TH AVE, GARY, IN 46401-1216
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2024
$20,100
Aleksandar Ristevski
5901 Building Group LLC
Public Action
related
—
Nov 9, 2018
—
Gary Redevelopment Commission
Auditor Of Lake County|5901 Building Group LLC
Tax Deed
related
—
Sep 10, 2014
—
5901 Building Group LLC
Nomad Academic & Tutoring
Grant Deed
—
Mar 21, 2014
$160,000
5901 Building Group LLC
Nomad Academic & Tutoring INC
Dual Purpose Document
related
$160,000 · Nomad Academic & Tutoring INC
Aug 2, 2013
—
Nomad Academic & Tutoring Ctr
Tradewinds Services 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.
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