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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Retail space
70 Lincolnway Valparaiso, IN 46383-5522
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0317651
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1890
Construction
WOOD
Total area
7,527 SF
Lot
0.07 ac (2,919 SF)
APN
64-09-24-313-008.000-004
UPID
US31-0317651
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
$665k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$587k
Blend (final)
Blend
$650k
Owner & transaction history
Party Of 8 LLC · 4 yrs held
Party Of 8 LLC
since 2022
Last sale
$700,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$595,000
ML approach
$665,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$780,000
Current use
COMMERCIAL (GENERAL)
$765,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $700k (Mar 3 2022)
Last sale anchor
$700k
Mar 3 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
$86 / 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
$8,395
Tax year 2023
Assessed value
$323,900
Assessed 2023
Previous assessed
$323,900
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$140,800
Assessed improvement
$183,100
Land market value
$140,800
Improvement market value
$183,100
Total market value
$323,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1890
Construction
WOOD
Heating
NONE
Stories
3
Units
1
Total area
7,527 SF
Lot
0.07 ac (2,919 SF)
APN
64-09-24-313-008.000-004
UPID
US31-0317651
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
RETAIL STORES Current
Est. value
$780,000
COMMERCIAL (GENERAL)
Est. value
$765,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1890
Construction
WOOD
Heating
NONE
Stories
3
Units
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Party Of 8 LLC
Entity
Mailing address
2505 ASHBOURNE CT, VALPARAISO, IN 46385-8187
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2022
$700,000
Party Of 8 LLC
Venue At Valparaiso LLC
Warranty Deed
$525,000 · Centier Bank
Jan 6, 2022
—
The Venue At Valparaiso LLC
Michelle Mangus
Quit Claim Deed
related
—
Sep 26, 2019
—
Michelle Mangus
Zlaich,john & Olivera
Quit Claim Deed
related
—
May 24, 2005
—
John Zlaich
Zlaich,john & Olivia
Quit Claim Deed
related
—
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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