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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8000 Calumet Ave Munster, IN 46321-1227

    • Strip malls
    • 6,760 SF
    • 0.52 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0021672
    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

    • Kevin Bednarek - State Farm Insurance Agent / Home Insurance Agency / Life Insurance Agency
    • Tropic Island Jerk Chicken / Jamaican Restaurant
    • Community Chiropractic Clinic / Chiropractor
    • Jose Cordova, DC / Chiropractor
    • Lee Nails & Spa / Nail Salon

    Property Details for 8000 Calumet Ave

    Year built
    2008
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.52 lot acres
    Property size
    6,760 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    45-06-13-484-016.000-027
    APU
    450613484016000027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $240,000
      Market price range: $145k - $269k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $195,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $305,000
      Change: +58% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $300,000
      Change: +57% Conversion: Easy
      WAREHOUSE, STORAGE
      $220,000
      Change: +13% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $210,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Munster
    County
    Lake
    State
    Indiana
    Longitude
    -87.5094
    Latitude
    41.568
    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
    $23,348
    $258,500
    $596,400
    $854,900
    -
    $258,500
    $596,400
    $854,900

    Comparable in this City

    • Value Estimation
      $360,000
      8,505 SF

      7940 Calumet Ave, Unit 50

      SHOPPING CENTER, STRIP CENTER • 8,505 SF
      7940 Calumet Ave, Munster, IN 46321-1216
      View Details
    • Value Estimation
      $860,000
      43,804 SF

      1902 45th St, Unit 48

      SHOPPING CENTER, STRIP CENTER • 43,804 SF
      1902 45th St, Munster, IN 46321-3917
      View Details
    • Value Estimation
      $425,000
      10,156 SF

      821 Main St

      SHOPPING CENTER, STRIP CENTER • 10,156 SF
      821 Main St, Munster, IN 46321-4066
      View Details
    • Value Estimation
      $690,000
      20,486 SF

      9610 Centennial Dr

      SHOPPING CENTER, STRIP CENTER • 20,486 SF
      9610 Centennial Dr, Munster, IN 46321-4078
      View Details
    • Value Estimation
      $410,000
      15,120 SF

      917 Rdg Rd, Unit 23

      SHOPPING CENTER, STRIP CENTER • 15,120 SF
      917 Rdg Rd, Munster, IN 46321-1747
      View Details
    • Value Estimation
      $565,000
      41,928 SF

      7951 Calumet Ave

      SHOPPING CENTER, STRIP CENTER • 41,928 SF
      7951 Calumet Ave, Munster, IN 46321-1215
      View Details

    Similar Nearby for Sale

    • $4,950,000
      29,754 SF

      Versatile Commercial Building on Calumet

      30,372 SF building on 3.77 acres, ideal for various uses.
      10350 Calumet Ave, Munster, IN 46321
      View Details
    • $1,595,000
      2,900 SF

      Munster Commercial Building For Sale

      New 2,900 SF Mixed-Use Property
      407 Ridge Rd, Munster, IN 46321
      View Details
    • Contact for pricing
      3,880 SF

      Munster Restaurant - For Sale/Lease

      Established Restaurant, High Traffic Area
      745 Ridge Rd, Munster, IN 46321
      View Details
    • Contact for pricing
      3,880 SF

      Freestanding Restaurant on Ridge Road

      3,880 SF restaurant on 0.37 acres with 77 parking spaces.
      745 Ridge Rd, Munster, IN 46321
      View Details
    • $159,900
      0.32 Acres

      Residential Land in Munster, Indiana

      Residential lot in a prime location near train.
      444 Megan Way, Munster, IN 46321
      View Details
    • $499,000
      4,722 SF

      Mixed-Use Building on Ridge Road

      4,722 SF Munster building with retail, office, and apartment.
      27 Ridge Rd, Munster, IN 46321
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      173,000 SF

      Retail Space in Calumet Center

      Endcap retail space in a Target-anchored shopping center.
      7959 Calumet Ave, Munster, IN 46321
      View Details
    • $12 SF/Yr
      18,098 SF

      Harrison Ridge Executive Suites

      Munster, IN Office & Retail Space Available
      417-435 Ridge Rd, Munster, IN 46321
      View Details
    • $28 SF/Yr
      2,900 SF

      Prime Munster Office Space For Lease

      New 2,900 SF Office, Retail, or Restaurant Space
      407 Ridge Rd, Munster, IN 46321
      View Details
    • Contact for pricing
      2,692 SF

      Freestanding Restaurant Building with Drive-Thru

      2,692 SF restaurant with drive-thru on 0.86 acres.
      8032 Calumet Ave, Munster, IN 46321
      View Details
    • $42 SF/Yr
      674 SF

      New Retail Space Available

      New construction retail space in a high-traffic area.
      8130 Calumet Ave, Munster, IN 46321
      View Details
    • Contact for pricing
      1,340 SF

      Retail Space in Growing Market

      Class A retail space in a rapidly growing market.
      821 Main St, Munster, IN 46321
      View Details
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    Munster, IN 46321-1227
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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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