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Property profile & analytics
OFF-MARKET
Estimated value
$3,540,000
Office Spaces
7863 Broadway 78, Merrillville, IN 46410-5553
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0552390
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1971
Construction
WOOD
Total area
30,808 SF
Lot
2.07 ac (89,995 SF)
APN
45-12-22-102-001.000-030
UPID
US31-0552390
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
-
Stephen I Rodriguez Law Office Law Firm
-
Orthodontics At Children's Dental Office
-
Children's Dental Center Dental Office
-
Merrillville Braces Dental Office
-
Dr. Crystal D. Ferguson, DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.22M
CAP Approach
CAP
$4.69M
Comparable Approach
Comparable
$3.82M
Blend (final)
Blend
$3.54M
Owner & transaction history
Arche LLC · 4 yrs held
Arche LLC
since 2022
Last sale
$3.6M
7 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 Merrillville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merrillville 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
$2,870,000
ML approach
$3,215,000
CAP Approach
CAP Return
Estimation
6%
$5,085,000
6.5%
$4,690,000
7%
$4,355,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,830,000
Current use
RETAIL STORES
$2,340,000
Change: -17% · Conversion: Easy
WAREHOUSE, STORAGE
$2,295,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.54M
Range $3.19M – $3.89M · ±10% · vs last sale $3.56M (Apr 12 2022)
Last sale anchor
$3.56M
Apr 12 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
$115 / 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
$69,515
Tax year 2022
Assessed value
$2,928,100
Assessed 2023
Previous assessed
$1,542,400
+89.8% YoY
Effective rate
2.37%
On assessed value
Assessed land
$554,300
Assessed improvement
$2,373,800
Land market value
$554,300
Improvement market value
$2,373,800
Total market value
$2,928,100
Applied tax rate
30.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1971
Construction
WOOD
Heating
NONE
Stories
2
Total area
30,808 SF
Lot
2.07 ac (89,995 SF)
APN
45-12-22-102-001.000-030
UPID
US31-0552390
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
COMMERCIAL (GENERAL) Current
Est. value
$2.8M
RETAIL STORES
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1971
Construction
WOOD
Heating
NONE
Stories
2
Lot
2.07 ac
Current owner
From public records · entity-resolved
Arche LLC
Entity
Mailing address
13658 105TH PL, DYER, IN 46311-7067
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2022
$3,560,000
Arche LLC
Aegis Broadway LLC
Warranty Deed
$2,692,500 · The Farmers Bank Frankfort In
Feb 1, 2011
—
Saint John Properties LLC
Aegis Broadway LLC
Warranty Deed
—
Mar 7, 2006
—
Aegis Broadway LLC
Chapel Square Associates
Grant Deed
$1,905,000 · Bank Financial Fsb
—
—
Aegis Broadway LLC
—
Loan Modification
related
$1,644,720 · Bank Financial Fsb
—
—
Aegis Broadway LLC
—
Deed Of Trust
related
$1,732,558 · Bank Financial Fsb
—
—
Aegis Broadway LLC
—
Deed Of Trust
related
$1,725,620 · Bank Financial Fsb
—
—
Aegis Broadway LLC
—
Deed Of Trust
related
$1,739,426 · Bank Financial Fsb
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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