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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Warehouses
7592 Melton Rd Gary, IN 46403-3147
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US31-0603841
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1963
Construction
TYPE NOT SPECIFIED
Total area
7,380 SF
Lot
9.96 ac (433,727 SF)
APN
45-09-05-476-001.000-004
UPID
US31-0603841
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
-
Superior Truss & Panel, Inc. Industrial Manufacturer Production Facility
-
Independent Mechanical Indstrs General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$800k
Comparable Approach
Comparable
$460k
Blend (final)
Blend
$635k
Owner & transaction history
Markham Property Mgmt INC · 12 yrs held
Markham Property Mgmt INC
since 2013
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$560,000
+1.8%
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%
$865,000
6.5%
$800,000
7%
$745,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$550,000
Current use
RETAIL STORES
$560,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$500,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$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 2022Property tax & assessments
Tax year 2022
Tax billed
$98,373
Tax year 2022
Assessed value
$3,093,100
Assessed 2023
Previous assessed
$3,207,600
-3.6% YoY
Effective rate
3.18%
On assessed value
Assessed land
$228,300
Assessed improvement
$2,864,800
Land market value
$228,300
Improvement market value
$2,864,800
Total market value
$3,093,100
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1963
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
4
Stories
1
Total area
7,380 SF
Lot
9.96 ac (433,727 SF)
APN
45-09-05-476-001.000-004
UPID
US31-0603841
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
WAREHOUSE, STORAGE Current
Est. value
$550,000
RETAIL STORES
Est. value
$560,000
COMMERCIAL (GENERAL)
Est. value
$500,000
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1963
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
4
Lot
9.96 ac
Current owner
From public records · entity-resolved
Markham Property Mgmt INC
Entity
Mailing address
7592 MELTON RD, GARY, IN 46403-3147
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2013
—
Markham Property Mgmt INC
Divane Bros Electric Co
Warranty Deed
—
—
—
Markham Property Management In
—
Deed Of Trust
related
$2,193,281 · American Chartered Bk
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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