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    Property profile & analytics

    700 Schiller Ave Schererville, IN 46375-4494

    • Warehouses
    • 16,800 SF
    • 2.52 lot acres
    OFF-MARKET
    Value Estimations
    $960,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0956876
    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

    • Warehouses

    Property Details for 700 Schiller Ave

    Year built
    1999
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.52 lot acres
    Property size
    16,800 SF
    Zone code
    R33
    Property type
    Warehouses
    APN
    45-11-10-276-002.000-036
    APU
    451110276002000036

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,070,000
      Market price range: $425k - $2.07M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,255,000
      Current use
      RETAIL STORES
      $1,275,000
      Change: +2% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,070,000
      Change: -15% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Schererville
    County
    Lake
    State
    Indiana
    Longitude
    -87.4358
    Latitude
    41.5024
    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
    $18,796
    $126,000
    $954,800
    $1,080,800
    -
    $126,000
    $954,800
    $1,080,800

    Comparable in this City

    • Value Estimation
      $3,930,000
      75,740 SF

      925 Kennedy Ave

      WAREHOUSE, STORAGE • 75,740 SF
      925 Kennedy Ave, Schererville, IN 46375-1325
      View Details
    • Value Estimation
      $3,455,000
      64,120 SF

      608 Us Hwy 41

      WAREHOUSE, STORAGE • 64,120 SF
      608 Us Hwy 41, Schererville, IN 46375-1216
      View Details
    • Value Estimation by Request
      2,640 SF

      8017 Austin Ave

      STORAGE YARD, OPEN STORAGE • 2,640 SF
      8017 Austin Ave, Schererville, IN 46375-2422
      View Details
    • Value Estimation by Request
      6,366 SF

      1650 Cline Ave

      STORAGE YARD, OPEN STORAGE • 6,366 SF
      1650 Cline Ave, Schererville, IN 46375-2020
      View Details
    • Value Estimation
      $900,000
      40,840 SF

      1145 Birch Dr

      WAREHOUSE, STORAGE • 40,840 SF
      1145 Birch Dr, Schererville, IN 46375-1334
      View Details
    • Value Estimation by Request
      13,315 SF

      2100 Us Hwy 41

      STORAGE YARD, OPEN STORAGE • 13,315 SF
      2100 Us Hwy 41, Schererville, IN 46375-2898
      View Details

    Similar Nearby for Sale

    • $269,900
      0.95 Acres

      Vacant Land on US 41

      Deforested vacant land with access road on US 41.
      677 Us Highway 41, Schererville, IN 46375
      View Details
    • Contact for pricing
      1.86 Acres

      US 41 High-Exposure Land

      1.86 Acres, Prime Schererville Location
      8036 -8056 Us 41, Schererville, IN 46375
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    • $1,100,000

      Prime Commercial Land on US-41

      4.81 acres in Schererville, Indiana, near Illinois border.
      917 Eagle Ridge Dr, Schererville, IN 46375
      View Details
    • $125,000
      0.34 Acres

      Wooded Lot in Fawn Valley

      Rare walk-out lot in Schererville, no HOA, build your dream home.
      7518 Fawn Valley Dr, Schererville, IN 46375
      View Details
    • $55,000
      0.26 Acres

      Residential Lot in Schererville

      Vacant lot in Schererville, Indiana, ready for residential development.
      1000 69Th Pl, Schererville, IN 46375
      View Details
    • $699,000
      3,850 SF

      Retail Space with High Visibility

      Commercial space with high foot traffic and income potential.
      1312 W Lincoln Hwy, Schererville, IN 46375
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,190 SF

      Main Street Retail Center Opportunity

      Prime Retail Space, Northwest Indiana
      29 Us-41 Schererville In 46375, Schererville, IN 46375
      View Details
    • Contact for pricing
      87,823 SF

      Schererville Retail Space Available

      Prime Retail Space in Strack & Van Til
      1515 Us Highway 41, Schererville, IN 46375
      View Details
    • Contact for pricing
      2,000 SF

      Turnkey Office Space Available

      Turnkey office space for rent with ample parking.
      14-26 E Us Highway 30, Schererville, IN 46375
      View Details
    • Contact for pricing
      23,459 SF

      Schererville Medical Office Space

      Prime Medical Office, 23,459 SF, Lake County
      322 Indianapolis Blvd, Schererville, IN 46375
      View Details
    • $21 SF/Yr
      3,045 SF

      Schererville Office Space Available

      Elegant office space in Plum Creek Center available for rent.
      222 Us Highway 41, Schererville, IN 46375
      View Details
    • $22 SF/Yr
      1,500 SF

      Retail Space in Schererville, IN

      Retail units available in strong Northwest Indiana market.
      142 W Lincoln Hwy, Schererville, IN 46375
      View Details
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    700 Schiller Ave
    Schererville, IN 46375-4494
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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