New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,520,000
Turn key restaurants
8140 Mississippi St, Merrillville, IN 46410-6326
Entity Owned
4-yr Hold
Free & Clear
Property ID
US31-0717293
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1977
Construction
WOOD
Total area
5,134 SF
Lot
1.56 ac (67,954 SF)
APN
45-12-22-426-008.000-030
UPID
US31-0717293
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
-
Sophia's Famous Pancakes Restaurant Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.52M
Owner & transaction history
Sophias House Of Pancakes 4 INC · 4 yrs held
Sophias House Of Pancakes 4 INC
since 2022
Last sale
$1.6M
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 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
$1,510,000
ML approach
$1,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.52M
Range $1.37M – $1.67M · ±10% · vs last sale $1.60M (May 10 2022)
Last sale anchor
$1.60M
May 10 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
$296 / 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
$40,313
Tax year 2022
Assessed value
$1,987,700
Assessed 2023
Previous assessed
$1,929,800
+3.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$1,342,500
Assessed improvement
$645,200
Land market value
$1,342,500
Improvement market value
$645,200
Total market value
$1,987,700
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1977
Construction
WOOD
Heating
NONE
Stories
1
Total area
5,134 SF
Lot
1.56 ac (67,954 SF)
APN
45-12-22-426-008.000-030
UPID
US31-0717293
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
1977
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
Sophias House Of Pancakes 4 INC
Entity
Free & Clear · 4 yrs held
Mailing address
HIGHLAND, IN 46322
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2022
$1,600,000
Sophias House Of Pancakes 4 INC
Bdl Real Estate Management INC
Lease
—
May 5, 2022
$1,600,000
Bdl Real Estate Management INC
Scf Rc Funding 1 LLC
Special Warranty Deed
$660,000 · Regional Development Co
Jan 12, 2017
—
Scf Rc Funding I LLC
Scf Rc Master Funding I LLC
Quit Claim Deed
related
$561,500,000 · Citibank
Jun 30, 2016
$1,566,716
Scfrc-hw-g LLC
Cnl Apf Partners LP
Grant Deed
—
Jul 9, 2013
—
Cnl Apf Partners LP
Cnl Funding 2000-a LP
Quit Claim 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 8140 Mississippi St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
