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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Retail space
8102 Georgia St Merrillville, IN 46410-6225
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-0587843
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2000
Construction
WOOD
Total area
6,654 SF
Lot
0.57 ac (24,699 SF)
APN
45-12-22-329-001.000-030
UPID
US31-0587843
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
-
Alliance MD Medical Clinic
-
1st in Class Clinical Education Vocational School Training Center
-
Mycare Express Pharmacy Pharmacy
-
MyCareexpressclinic Medical Clinic
-
365 Medical Supplies Medical Supply Store Diabetes Equipment Supplier
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$718k
Blend (final)
Blend
$620k
Owner & transaction history
Space Properties LLC · 1 yrs held
Space Properties LLC
since 2025
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$610,000
+21.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$505,000
Current use
COMMERCIAL (GENERAL)
$610,000
Change: +21% · Conversion: Easy
WAREHOUSE, STORAGE
$495,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$93 / 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
$15,364
Tax year 2022
Assessed value
$736,700
Assessed 2023
Previous assessed
$735,500
+0.2% YoY
Effective rate
2.09%
On assessed value
Assessed land
$344,800
Assessed improvement
$391,900
Land market value
$344,800
Improvement market value
$391,900
Total market value
$736,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2000
Construction
WOOD
Heating
NONE
Stories
2
Total area
6,654 SF
Lot
0.57 ac (24,699 SF)
APN
45-12-22-329-001.000-030
UPID
US31-0587843
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
RETAIL STORES Current
Est. value
$505,000
COMMERCIAL (GENERAL)
Est. value
$610,000
WAREHOUSE, STORAGE
Est. value
$495,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
2000
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Space Properties LLC
Entity
Mailing address
PO BOX 172, VALPARAISO, IN 46384-0172
Ownership since
2025
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
Jan 21, 2025
$822,000
Space Properties LLC
Ckp Properties LLC
Deed
$415,000 · Centier Bank
Jul 21, 2015
—
Ckp Properties LLC
Tvm Realty LLC
Warranty Deed
$525,000 · Centier Bank
Dec 17, 2012
—
Tvm Realty LLC
Robin Austgen
Deed
$325,000 · Peoples Bank Savings Bank
Feb 18, 2011
—
Austgen Ronald Trust
Austgen,ronald
Quit Claim Deed
related
—
Feb 11, 2011
—
Ronald Austgen
Rubino,james J JR
Warranty Deed
—
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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