Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Auto shops
6491 Broadway Merrillville, IN 46410-3007
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0380921
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1987
Construction
TYPE NOT SPECIFIED
Total area
12,514 SF
Lot
3.69 ac (160,693 SF)
APN
45-12-10-151-007.000-030
UPID
US31-0380921
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
-
AutoSavvy Merrillville Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$835k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$870k
Owner & transaction history
Alamer LLC · 4 yrs held
Alamer LLC
since 2022
Last sale
$900,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$870,000
+27.2%
Apartment house (5+ units)
$720,000
+5.3%
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
$850,000
ML approach
$835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$685,000
Current use
RESTAURANT
$870,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$720,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$590,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $900k (Jul 14 2022)
Last sale anchor
$900k
Jul 14 2022
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
$70 / 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
$17,719
Tax year 2022
Assessed value
$848,600
Assessed 2023
Previous assessed
$848,200
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$183,100
Assessed improvement
$665,500
Land market value
$183,100
Improvement market value
$665,500
Total market value
$848,600
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1987
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
12,514 SF
Lot
3.69 ac (160,693 SF)
APN
45-12-10-151-007.000-030
UPID
US31-0380921
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
AUTO REPAIR, GARAGE Current
Est. value
$685,000
RESTAURANT
Est. value
$870,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$720,000
RETAIL STORES
Est. value
$590,000
AUTO REPAIR, GARAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1987
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
3.69 ac
Current owner
From public records · entity-resolved
Alamer LLC
Entity
Mailing address
6300 BROADWAY, MERRILLVILLE, IN 46410-3006
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
$900,000
Alamer LLC
F & J Building Properties LLC
Warranty Deed
$720,000 · Centier Bank
Apr 7, 2010
—
Indiana Management Co LLC
Singh,shamsher
Quit Claim Deed
related
—
May 13, 2004
$750,000
Indiana Management Co LLC
Singh,shamsher
Grant Deed
—
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?”
You own 6491 Broadway?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
