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    Property profile & analytics

    601 40th Pl Hobart, IN 46342-2223

    • Theaters & concert halls
    • 31,969 SF
    • 6.45 lot acres
    OFF-MARKET
    Value Estimation
    $860,000
    Last Sale
    Dec 05, 2022
    Location Intelligence
    Property ID
    US31-0544622
    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

    • Hobart Family YMCA / Non-Profit Organization

    Property Details for 601 40th Pl

    Year built
    1967
    Construction
    TYPE NOT SPECIFIED
    Lot size
    6.45 lot acres
    Property size
    31,969 SF
    Property type
    Theaters & concert halls
    APN
    45-09-30-401-001.000-018
    APU
    450930401001000018

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $850,000

    • CAP approach

      CAP return
      Estimation
      6%
      $990,000
      6.5%
      $890,000
      7%
      $1,020,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,050,000
      Geo Method
      $915,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,020,000
      Retail
      $1,125,000
      Mixed-Use
      $885,000
      Hospitality
      $995,000
      Educational
      $1,120,000
      Residential Income
      $885,000
      Energy
      $1,080,000
      Income-Based Land
      $1,075,000
      Food Service
      $940,000

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.2677
    Latitude
    41.5435
    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
    $44,313
    $366,600
    $718,900
    $1,085,500
    -
    $366,600
    $718,900
    $1,085,500

    Comparable in this City

    • Value Estimation
      $340,000
      14,563 SF

      1165 37th Ave

      THEATER (MOVIE) • 14,563 SF
      1165 37th Ave, Hobart, IN 46342-2012
      View Details
    • Value Estimation
      $320,000
      4,157 SF

      3790 Alabama St

      THEATER (MOVIE) • 4,157 SF
      3790 Alabama St, Hobart, IN 46342-1514
      View Details
    • Value Estimation
      $460,000
      4,687 SF

      2727 Cleveland Ave

      THEATER (MOVIE) • 4,687 SF
      2727 Cleveland Ave, Hobart, IN 46342-3507
      View Details
    • Value Estimation
      $445,000
      9,606 SF

      208 Linda St

      THEATER (MOVIE) • 9,606 SF
      208 Linda St, Hobart, IN 46342-4525
      View Details
    • Value Estimation by Request
      10,036 SF

      200 County Line Rd

      THEATER (MOVIE) • 10,036 SF
      200 County Line Rd, Hobart, IN 46342-2603
      View Details
    • Value Estimation
      $610,000
      18,628 SF

      143 Hobart Rd

      THEATER (MOVIE) • 18,628 SF
      143 Hobart Rd, Hobart, IN 46342-4652
      View Details

    Similar Nearby for Sale

    • $600,000
      21,957 SF

      Hobart Mixed-Use Business Complex

      2.85 acre mixed-use property with multiple commercial buildings and storage units.
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    • $99,900
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      Hobart Land Package For Sale

      1.52 acres of land package available in Hobart, Indiana.
      3800 Gill St, Hobart, IN 46342
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    • Contact for pricing

      Commercial Outlots in Hobart

      Three separate commercial outlots available for sale or lease.
      140 Lake Park Ave, Hobart, IN 46342
      View Details
    • Contact for pricing

      Prime Development Site in Hobart

      19.21-acre development site in Northwest Indiana's retail hub.
      8203 Colorado St, Hobart, IN 46342
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      30.8 Acres in Hobart

      30.8-acre parcel in Hobart & Merrillville communities.
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    • $30,000
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      Land with Deep River Frontage

      0.64 acre lot with Deep River frontage in Hobart.
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    Similar Nearby for Lease

    • $16 SF/Yr
      2,903 SF

      Professional Office Space Available

      Well-maintained office space with high visibility and easy access.
      7779 E Ridge Rd, Hobart, IN 46342
      View Details
    • $18 SF/Yr
      3,400 SF

      Office Space in Peoples Bank

      Second floor office space with signage and ample parking.
      1501 S Lake Park Ave, Hobart, IN 46342
      View Details
    • $1,500 /Mo
      960 SF

      Downtown Hobart Retail/Office Space

      Corner retail/office space in downtown Hobart with high visibility.
      347 Main St, Hobart, IN 46342
      View Details
    • $12 SF/Yr
      1,500 SF

      Retail Space in Hobart Center

      Retail space available in The Pavilions of Hobart.
      1417-1461 S Lake Park Ave, Hobart, IN 46342
      View Details
    • $17 SF/Yr
      7,279 SF

      Hobart Office Space Available

      Prime Hobart location, 620 sq ft office suite.
      904 Old Ridge Rd, Hobart, IN 46342
      View Details
    • $14 SF/Yr
      182,337 SF

      North Ridge Center Retail Space

      Lake County retail space, multiple units available.
      7760 Ridge Rd, Hobart, IN 46342
      View Details
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    Hobart, IN 46342-2223
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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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