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Property profile & analytics
OFF-MARKET
Estimated value
$4,140,000
Industrial properties
700 Chase St Gary, IN 46404-1246
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-0410100
Property profile
Verified
Property type
Industrial properties
Use group
HEAVY INDUSTRIAL
Year built
2001
Construction
TYPE NOT SPECIFIED
Total area
79,000 SF
Lot
14 ac (609,840 SF)
Zoning code
R33
APN
45-08-06-451-001.000-004
UPID
US31-0410100
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
-
National Industrial Lumber Co Industrial Manufacturer Production Facility
-
NILCO - Chicago Distribution Center Logistics Company
-
InterCoat ChemGuard Powder Coating Service
-
Majestic Services Corp Metal Fabrication Plant Factory
-
Chase Street Industrial Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.09M
Blend (final)
Blend
$4.14M
Owner & transaction history
Chase Cardone Properties LLC · 3 yrs held
Chase Cardone Properties LLC
since 2022
7 recorded transactions
Zoning & alternative use
R33 · Gary, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.9M
+101.5%
Apartment house (5+ units)
$3.8M
+55.3%
Medical building
$3.6M
+45.5%
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 Gary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gary 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,930,000
Change: +101% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,800,000
Change: +55% · Conversion: Difficult
MEDICAL BUILDING
$3,560,000
Change: +46% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,070,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$4.14M
Range $3.73M – $4.55M · ±10%
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
$52 / 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
$89,363
Tax year 2022
Assessed value
$4,839,700
Assessed 2023
Previous assessed
$2,508,800
+92.9% YoY
Effective rate
1.85%
On assessed value
Assessed land
$468,000
Assessed improvement
$4,371,700
Land market value
$468,000
Improvement market value
$4,371,700
Total market value
$4,839,700
Applied tax rate
4.0000
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
Industrial properties
Use group
HEAVY INDUSTRIAL
Status
Off-Market
Year built
2001
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
79,000 SF
Lot
14 ac (609,840 SF)
Zoning code
R33
APN
45-08-06-451-001.000-004
UPID
US31-0410100
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R33 · Gary, IN
Zoning R33 · permitted uses
R33 · Gary, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gary. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$4.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.6M
WAREHOUSE, STORAGE
Est. value
$3.1M
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
2001
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
14 ac
Current owner
From public records · entity-resolved
Chase Cardone Properties LLC
Entity
Mailing address
LOS ANGELES, CA 90024
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2022
—
Chase Cardone Properties LLC
Chase Land LLC
Re-recorded Document
related
—
Jul 18, 2022
—
Cahse Cardone Properties LLC
Cahse Land LLC
Special Warranty Deed
$42,000,000 · Argentic Real Estate Finance LLC
Jul 23, 2020
—
Chase Land LLC
—
Deed
related
$1,541,490 · Fifth Third Bk NA
Mar 20, 2020
—
Chase Street Indl Ctr LLC
—
Deed
related
—
Oct 18, 2019
—
Chase Street Indl Ctr LLC
—
Deed
related
$34,985,142 · Bmo Harris Bk NA
Mar 15, 2017
—
Nilco LLC
—
Deed
related
$1,080,000 · Cortland Capital Market Services LLC Cortland Capital Market Services LLC
Dec 21, 2016
—
Chase Street Indl Center LLC
—
Grant Deed
related
$23,000,000 · Bmo Harris Bk NA
—
—
Chase Street Indl Ctr LLC
—
Loan Modification
related
$34,985,142 · Bmo Harris Bk NA
—
—
Chase Land LLC
—
Deed Of Trust
related
$3,400,000 · Midamerica Fsb
—
—
Chase Land LLC
—
Loan Modification
related
$1,541,490 · Fifth Third Bk NA
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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