Property profile

648 Progress Ave Munster, IN 46321

OFF-MARKET
Other warehouses
Property ID
US31-1129478
29,217 SF 1.56 ac lot Built 1990
Trust Owned 9-yr Hold Free & Clear
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Property summary

AI-generated overview

This 9,000-square-foot warehouse is located in a business park in Munster, Indiana, on the south side of Progress Avenue one block west of Calumet Avenue, near Centennial Park and approximately one block east of the Three Floyds Brewery/Distillery (about half a mile east of the Illinois border). The space includes a lunch room, separate men’s and women’s bathrooms, and a shop office, with a private entrance at the southeast man door that can be modified. Improvements include one 8-foot by 10-foot roll-up door, clear usable height of 24 feet below girders and lights (with 10 feet under each loft space), and two steel-frame mezzanine storage lofts of approximately 1,000 square feet each. The building provides a private access roadway to the grade-level overhead door and a separate parking lot; loading dock use is infrequent, and forklift/material handling is managed by the building’s operator. Utilities are provided for the space up to levels beyond historical averages, and the property’s zoning supports general commercial/light industrial use consistent with a warehouse configuration.

Property profile

Verified
Property type Other warehouses
Use group WAREHOUSE, STORAGE
Year built 1990
Construction TYPE NOT SPECIFIED
Total area 29,217 SF
Lot 1.56 ac (67,954 SF)
APN 45-06-36-227-004.000-027
UPID US31-1129478

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Printing Service

Location

648 Progress Ave Munster, IN 46321-2872
Munster metro Census 40301 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$755k
CAP Approach CAP
by Request
Comparable Approach Comparable
$563k
Blend (final) Blend
$755k

Owner & transaction history

since 2017
1 recorded transaction
2017
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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