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Property profile & analytics
FOR LEASE
Auto shops
724 151St St East Chicago, IN 46312
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-0439656
For Lease
1 / 2
$5,250/Mo
724 151St St, East Chicago, IN 46312
View Listing →
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1926
Construction
WOOD
Total area
1,319 SF
Lot
0.16 ac (7,187 SF)
APN
45-03-32-204-031.000-024
UPID
US31-0439656
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
State Of Indiana · 2 yrs held
State Of Indiana
since 2024
Last sale
$950
5 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 East Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Chicago 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,690
Tax year 2022
Assessed value
$127,400
Assessed 2023
Previous assessed
$127,400
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$30,600
Assessed improvement
$96,800
Land market value
$30,600
Improvement market value
$96,800
Total market value
$127,400
Applied tax rate
24.0000
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
For Lease
Year built
1926
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
1,319 SF
Lot
0.16 ac (7,187 SF)
APN
45-03-32-204-031.000-024
UPID
US31-0439656
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
Building & site characteristics
From public records
Year built
1926
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
State Of Indiana
Individual
Mailing address
100 N SENATE AVE RM N758, INDIANAPOLIS, IN 46204-2219
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2024
$950
State Of Indiana
Jeffrey A Hoekstra
Warranty Deed
—
Jul 3, 2019
—
Jeffrey A Hoekstra
—
Deed
related
$70,000 · Centier Bk
Mar 13, 2007
—
Jeffrey A Hoekstra
Hoekstra,jeffrey A & Debra
Quit Claim Deed
related
—
—
—
Jeffrey A Hoekstra
—
Deed Of Trust
related
$70,000 · Centier Bk
—
—
Jeffrey A Hoekstra
—
Deed Of Trust
related
$97,057 · Jack A & Penny A Hoekstra
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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