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    Property profile & analytics

    8510 Broadway, Unit 85 Merrillville, IN 46410-7032

    • Medical offices
    • 24,547 SF
    • 2.00 lot acres
    OFF-MARKET
    Value Estimation
    $480,000
    Location Intelligence
    Property ID
    US31-0935293
    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

    • Punday Carol M / Speech Pathologist
    • Lisa J. Saks, OD / Optometrist / Ophthalmology Clinic
    • Dr. Douglas Williams Md / Practitioner Service Location / Ophthalmologist
    • Blake Williams / Ophthalmologist / Practitioner Service Location
    • Blake Louis Williams / Ophthalmologist / Health Care Facility

    Property Details for 8510 Broadway

    Year built
    1992
    Construction
    WOOD
    Lot size
    2.00 lot acres
    Property size
    24,547 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    45-12-28-227-001.000-030
    APU
    451228227001000030

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $510,000

    • CAP approach

      CAP return
      Estimation
      6%
      $535,000
      6.5%
      $505,000
      7%
      $505,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $450,000
      Geo Method
      $525,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $475,000
      Retail
      $520,000
      Mixed-Use
      $420,000
      Hospitality
      $530,000
      Educational
      $455,000
      Residential Income
      $425,000
      Energy
      $465,000
      Income-Based Land
      $485,000
      Food Service
      $550,000

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.338
    Latitude
    41.4634
    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
    $9,131
    $72,600
    $376,300
    $448,900
    -
    $72,600
    $376,300
    $448,900

    Comparable in this City

    • Value Estimation by Request
      22,518 SF

      8777 Broadway

      MEDICAL BUILDING • 22,518 SF
      8777 Broadway, Merrillville, IN 46410-6693
      View Details
    • Value Estimation by Request
      17,646 SF

      8127 Merrillville Rd

      MEDICAL BUILDING • 17,646 SF
      8127 Merrillville Rd, Merrillville, IN 46410-1485
      View Details
    • Value Estimation by Request
      9,220 SF

      8895 Broadway

      MEDICAL BUILDING • 9,220 SF
      8895 Broadway, Merrillville, IN 46410-7037
      View Details
    • Value Estimation by Request
      3,420 SF

      6 Lincoln Hwy

      MEDICAL BUILDING • 3,420 SF
      6 Lincoln Hwy, Merrillville, IN 46410-5446
      View Details
    • Value Estimation by Request
      20,564 SF

      751 81st Ave, Unit 61

      MEDICAL BUILDING • 20,564 SF
      751 81st Ave, Merrillville, IN 46410-5538
      View Details
    • Value Estimation
      $340,000
      3,150 SF

      100 84th Dr

      MEDICAL BUILDING • 3,150 SF
      100 84th Dr, Merrillville, IN 46410-6242
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      8,775 SF

      The Annex Medical Office Space

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    • $10 SF/Yr
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    • $12 SF/Yr
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      Merrillville Medical Office Suite

      Prime medical office space, fully renovated.
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    • $17 SF/Yr
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      Merrillville Office Building

      1,700 SF Suite Available, Prime Location
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      View Details
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    Merrillville, IN 46410-7032
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    Realmo Value Estimation

    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.

    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.

    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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