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Property profile & analytics
OFF-MARKET
Auto shops
850 Lincoln Hwy Merrillville, IN 46410
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US31-0680571
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1980
Construction
TYPE NOT SPECIFIED
Total area
9,990 SF
Lot
0.79 ac (34,500 SF)
APN
45-12-21-178-002.000-030
UPID
US31-0680571
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
850 West 81st Avenue LLC · 11 yrs held
850 West 81st Avenue LLC
since 2015
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$14,637
Tax year 2022
Assessed value
$700,200
Assessed 2023
Previous assessed
$700,700
-0.1% YoY
Effective rate
2.09%
On assessed value
Assessed land
$343,600
Assessed improvement
$356,600
Land market value
$343,600
Improvement market value
$356,600
Total market value
$700,200
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1980
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
9,990 SF
Lot
0.79 ac (34,500 SF)
APN
45-12-21-178-002.000-030
UPID
US31-0680571
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
1980
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
0.79 ac
Current owner
From public records · entity-resolved
850 West 81st Avenue LLC
Entity
Mailing address
850 W LINCOLN HWY, MERRILLVILLE, IN 46410
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2025
—
Karma Finance & Holding LLC
—
Deed
related
$1,900,000 · First Financial Bank
Jun 28, 2017
—
Dhiren J Shah
—
Deed
related
$100,000 · Guillermo Delgado
Nov 3, 2016
—
Karma Finance & Holding LLC
—
Deed
related
—
Sep 6, 2016
—
Karma Finance & Holding LLC
—
Deed
related
$507,000 · Private Individual
Aug 15, 2016
—
Karma Finance & Holding LLC
—
Deed
related
—
May 18, 2016
—
Karma Finance & Holding LLC
—
Deed
related
—
May 13, 2015
—
850 West 81st Avenue LLC
Karras Paul G
Warranty Deed
$586,142 · First Midwest Bank
—
—
Karma Finance & Holding LLC
—
Loan Modification
related
—
—
—
Karma Finance & Holding LLC
—
Deed Of Trust
related
$507,000 · Private Individual
—
—
Karma Finance & Holding LLC
—
Loan Modification
related
—
—
—
Karma Finance & Holding LLC
—
Loan Modification
related
$586,142 · First Midwest Bk
—
—
Karma Finance & Holding LLC
—
Loan Modification
related
—
—
—
Karma Finance & Holding LLC
—
Loan Modification
related
—
—
—
Dhiren J Shah
—
Deed Of Trust
related
$100,000 · Guillermo Delgado
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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