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Property profile & analytics
FOR LEASE
Grocery and convenience stores
6001 Broadway Merrillville, IN 46410
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US31-0709736
For Lease
1 / 8
$4,245,000
6001 Broadway, Merrillville, IN 46410
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1994
Construction
TYPE NOT SPECIFIED
Total area
65,552 SF
Lot
4.36 ac (189,704 SF)
APN
45-12-03-351-001.000-030
UPID
US31-0709736
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
-
Centier Bank (ATM) Atm
-
Coinstar Kiosk | Bitcoin ATM Atm Currency Exchange Service
-
Western Union Bank Credit Union
-
Strack & Van Til Grocery & Convenience Store Food Market
-
Coinstar Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.95M
Blend (final)
Blend
$4.25M
Owner & transaction history
Broadway Place II LLC · 5 yrs held
Broadway Place II LLC
since 2021
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.0M
+21.1%
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 Merrillville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merrillville 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
Alternative Use
Use
Estimation
RETAIL STORES
$4,975,000
Current use
COMMERCIAL (GENERAL)
$6,025,000
Change: +21% · Conversion: Easy
WAREHOUSE, STORAGE
$4,890,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$4.25M
Range $3.82M – $4.67M · ±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
$65 / 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
$84,603
Tax year 2022
Assessed value
$4,050,000
Assessed 2023
Previous assessed
$4,050,000
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$1,064,900
Assessed improvement
$2,985,100
Land market value
$1,064,900
Improvement market value
$2,985,100
Total market value
$4,050,000
Applied tax rate
30.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1994
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
65,552 SF
Lot
4.36 ac (189,704 SF)
APN
45-12-03-351-001.000-030
UPID
US31-0709736
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$6.0M
WAREHOUSE, STORAGE
Est. value
$4.9M
RETAIL STORES Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1994
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
4.36 ac
Current owner
From public records · entity-resolved
Broadway Place II LLC
Entity
Mailing address
763 2ND STSTE100, ENCINITAS, CA 92024-4481
Ownership since
2021
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
Jun 27, 2024
—
Mlat LLC
—
Deed
related
$2,250,000 · Horizon Bank
Jun 3, 2021
—
Broadway Place II LLC
Broadway Place II LLC
Deed
$7,000,000 · Wells Fargo Bank NA
Jun 7, 2018
—
Broaday Place II LLC
Broaday Place LLC
Quitclaim Deed
related
$4,500,000 · Teachers Cu
Feb 13, 2018
—
Indiana Grocery Group LLC
—
Grant Deed
related
$40,000,000 · Missouri Elec Co-op Emp Cu
Jul 3, 2014
—
Mlat LLC
Indiana Land Trust Co
Deed
$3,000,000 · Cibc INC
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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