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Property profile & analytics
OFF-MARKET
Estimated value
$1,380,000
Theaters & concert halls
8607 Columbia Ave Munster, IN 46321-2517
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US31-0483234
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1962
Construction
TYPE NOT SPECIFIED
Total area
24,329 SF
Lot
5.2 ac (226,381 SF)
APN
45-07-19-328-004.000-027
UPID
US31-0483234
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
-
Ridge United Methodist Church Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.38M
Owner & transaction history
Ridge United Methodist Ch INC · 7 yrs held
Ridge United Methodist Ch INC
since 2018
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.0M
+45.3%
Retail stores
$1.9M
+41.5%
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 Munster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Munster 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
THEATER (MOVIE)
$1,355,000
Current use
AUTO REPAIR, GARAGE
$1,970,000
Change: +45% · Conversion: Difficult
RETAIL STORES
$1,920,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,100,000
Change: -19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,085,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.38M
Range $1.24M – $1.52M · ±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
$57 / 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
$78,170
Tax year 2022
Assessed value
$2,557,000
Assessed 2023
Previous assessed
$2,484,700
+2.9% YoY
Effective rate
3.06%
On assessed value
Assessed land
$1,876,100
Assessed improvement
$680,900
Land market value
$1,876,100
Improvement market value
$680,900
Total market value
$2,557,000
Applied tax rate
27.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1962
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
24,329 SF
Lot
5.2 ac (226,381 SF)
APN
45-07-19-328-004.000-027
UPID
US31-0483234
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
THEATER (MOVIE) Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
THEATER (MOVIE) Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1962
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
5.2 ac
Current owner
From public records · entity-resolved
Ridge United Methodist Ch INC
Entity
Mailing address
8607 COLUMBIA AVE, MUNSTER, IN 46321-2517
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2018
—
Ridge United Methodist Ch INC
—
Deed
related
$880,000 · In Um Loan & Svgs Ministry INC
—
—
United Methodist Church Ridge
—
Deed Of Trust
related
$1,376,172 · Mercantile Nat'l Bank Indiana
—
—
Ridge United Methodist Ch INC
—
Deed Of Trust
related
$1,069,670 · Harris NA
—
—
Ridge United Methodist Ch INC
—
Deed Of Trust
related
$880,000 · In Um Loan & Svgs Ministry INC
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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