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    Property profile & analytics

    637 45th Ave, Unit 721 Gary, IN 46409-2246

    • Theaters & concert halls
    • 5,684 SF
    • 2.54 lot acres
    OFF-MARKET
    Value Estimation
    $375,000
    Last Sale
    Apr 24, 2023
    Location Intelligence
    Property ID
    US31-0356984
    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

    • Theaters & concert halls

    Property Details for 637 45th Ave

    Year built
    1969
    Construction
    WOOD
    Lot size
    2.54 lot acres
    Property size
    5,684 SF
    Property type
    Theaters & concert halls
    APN
    45-08-34-126-019.000-004
    APU
    450834126019000004

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $365,000

    • CAP approach

      CAP return
      Estimation
      6%
      $415,000
      6.5%
      $365,000
      7%
      $415,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $425,000
      Geo Method
      $430,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $340,000
      Retail
      $385,000
      Mixed-Use
      $380,000
      Hospitality
      $440,000
      Educational
      $370,000
      Residential Income
      $330,000
      Energy
      $425,000
      Income-Based Land
      $335,000
      Food Service
      $385,000

    Location Insight

    • Map
    • Local Demand
    City
    Gary
    County
    Lake
    State
    Indiana
    Longitude
    -87.3287
    Latitude
    41.5361
    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
    $22,624
    $114,500
    $142,100
    $256,600
    -
    $114,500
    $142,100
    $256,600

    Comparable in this City

    • Value Estimation by Request
      4,096 SF

      3947 Pennsylvania St

      THEATER (MOVIE) • 4,096 SF
      3947 Pennsylvania St, Gary, IN 46409-1733
      View Details
    • Value Estimation
      $270,000
      4,600 SF

      4921 Broadway, Unit 23

      THEATER (MOVIE) • 4,600 SF
      4921 Broadway, Gary, IN 46409-2706
      View Details
    • Value Estimation by Request
      24,684 SF

      3924 Georgia St, Unit 92

      THEATER (MOVIE) • 24,684 SF
      3924 Georgia St, Gary, IN 46409-1805
      View Details
    • Value Estimation by Request
      18,160 SF

      4201 Broadway, Unit 21

      THEATER (MOVIE) • 18,160 SF
      4201 Broadway, Gary, IN 46409-2120
      View Details
    • Value Estimation
      $480,000
      7,664 SF

      505 45th Ave

      THEATER (MOVIE) • 7,664 SF
      505 45th Ave, Gary, IN 46409-2234
      View Details
    • Value Estimation
      $315,000
      5,064 SF

      3949 Massachusetts St

      THEATER (MOVIE) • 5,064 SF
      3949 Massachusetts St, Gary, IN 46409-1730
      View Details

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    • Contact for pricing
      0.14 Acres

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    637 45th Ave, Unit 721
    Gary, IN 46409-2246
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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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