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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Office Spaces
601 Lincolnway Valparaiso, IN 46383-5409
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-0844190
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1974
Construction
WOOD
Total area
6,048 SF
Lot
0.25 ac (10,977 SF)
APN
64-09-24-415-005.000-004
UPID
US31-0844190
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$625k
CAP Approach
CAP
$855k
Comparable Approach
Comparable
$457k
Blend (final)
Blend
$625k
Owner & transaction history
Elizabeth Moerman · 2 yrs held
Elizabeth Moerman
since 2024
Last sale
$625,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$625,000
+2.0%
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 Valparaiso submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Valparaiso 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
$625,000
ML approach
$625,000
CAP Approach
CAP Return
Estimation
6%
$925,000
6.5%
$855,000
7%
$790,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$615,000
Current use
RETAIL STORES
$625,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $625k (Jul 3 2024)
Last sale anchor
$625k
Jul 3 2024
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
$103 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,637
Tax year 2023
Assessed value
$252,100
Assessed 2023
Previous assessed
$252,100
+0.0% YoY
Effective rate
2.63%
On assessed value
Assessed land
$112,900
Assessed improvement
$139,200
Land market value
$112,900
Improvement market value
$139,200
Total market value
$252,100
Applied tax rate
1.0000
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
1974
Construction
WOOD
Heating
NONE
Stories
3
Total area
6,048 SF
Lot
0.25 ac (10,977 SF)
APN
64-09-24-415-005.000-004
UPID
US31-0844190
Jurisdiction
PORTER
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
COMMERCIAL (GENERAL) Current
Est. value
$615,000
RETAIL STORES
Est. value
$625,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1974
Construction
WOOD
Heating
NONE
Stories
3
Lot
0.25 ac
Current owner
From public records · entity-resolved
Elizabeth Moerman
Individual
Mailing address
1170 N 400TH E, CHESTERTON, IN 46304-9542
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
Jul 3, 2024
$625,000
Elizabeth Moerman
Donald W Kuiken
Warranty Deed
$565,008 · Donald Kuiken
Jul 3, 2024
—
Elizabeth Moerman
Donald W Kuiken
Warranty Deed
$565,008 · Donald Kuiken
May 28, 2010
—
Nwi-hb Investments LLC
R & B Downriver Properties LLC
Grant Deed
$212,000 · Centier Bank
Jun 15, 2006
—
R & B Downriver Properties LLC
Morris,ronald P & Beverly T
Quit Claim Deed
related
—
Jun 14, 2006
—
Ronald P Morris
Karcyn LLC
Warranty Deed
$225,600 · Meridias Capital
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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