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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Medical Office Space
8684 Connecticut St Merrillville, IN 46410-5580
Entity Owned
2-yr Hold
Free & Clear
Property ID
US31-0982009
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1983
Construction
TYPE NOT SPECIFIED
Total area
14,596 SF
Lot
2.05 ac (89,385 SF)
APN
45-12-27-102-007.000-030
UPID
US31-0982009
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
-
Obstetrics & Gynecology Physician
-
Dr. Pravin Kumar C. Sanghvi, MD Physician
-
Keith M Ramsey Medical Corporation Physician
-
Peak Home Health Home Health Care Service Medical Clinic
-
Queen Of Hearts Cardiovascular & Family Healthcare LLC Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$581k
Blend (final)
Blend
$510k
Owner & transaction history
Dw Rentals & Property Management Ll · 2 yrs held
Dw Rentals & Property Management Ll
since 2023
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$840,000
+41.0%
Auto repair, garage
$800,000
+33.9%
Retail stores
$690,000
+15.4%
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
$440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$595,000
Current use
APARTMENT HOUSE (5+ UNITS)
$840,000
Change: +41% · Conversion: Moderate
AUTO REPAIR, GARAGE
$800,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$690,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$595,000
Change: 0% · Conversion: Easy
WAREHOUSE, STORAGE
$505,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$35 / 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
$26,588
Tax year 2022
Assessed value
$1,317,600
Assessed 2023
Previous assessed
$1,317,600
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$429,000
Assessed improvement
$888,600
Land market value
$429,000
Improvement market value
$888,600
Total market value
$1,317,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1983
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
14,596 SF
Lot
2.05 ac (89,385 SF)
APN
45-12-27-102-007.000-030
UPID
US31-0982009
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
MEDICAL BUILDING Current
Est. value
$595,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$840,000
AUTO REPAIR, GARAGE
Est. value
$800,000
RETAIL STORES
Est. value
$690,000
COMMERCIAL (GENERAL)
Est. value
$595,000
WAREHOUSE, STORAGE
Est. value
$505,000
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1983
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Dw Rentals & Property Management Ll
Entity
Free & Clear · 2 yrs held
Mailing address
500 SKOKIE BLVD STE #600, NORTHBROOK, IL 60062-2831
Ownership since
2023
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
Dec 26, 2023
—
Dw Rentals & Property Management Ll
C&e Investments LLC
Special Warranty Deed
—
Jun 1, 2018
—
C & E Investments LLC
—
Deed
related
—
—
—
C & E Investments LLC
—
Loan Modification, Consolidation And Extension
related
—
—
—
C & E Investments LLC
—
Loan Modification
related
—
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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