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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Medical Office Space
8733 400th N Michigan City, IN 46360-9330
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US31-1781051
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
WOOD
Total area
18,912 SF
Lot
13 ac (566,280 SF)
APN
46-05-10-300-019.000-046
UPID
US31-1781051
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
-
Albert Naveed Physician
-
Rachel Benson Physician
-
Franciscan Physician Network 400 North Health Center Medical Clinic
-
Hardeep Minhas Physician
-
Alverno Laboratories Michigan City Medical Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$840k
Owner & transaction history
Mpm Investments LLC · 16 yrs held
Mpm Investments LLC
since 2009
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.3M
+31.9%
Commercial (general)
$1.2M
+18.6%
Apartment house (5+ units)
$1.2M
+13.4%
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 Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City 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
MEDICAL BUILDING
$1,015,000
Current use
RETAIL STORES
$1,335,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,200,000
Change: +19% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,150,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$840k
Range $756k – $924k · ±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
$44 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$28,839
Tax year 2023
Assessed value
$1,671,100
Assessed 2023
Previous assessed
$1,671,100
+0.0% YoY
Effective rate
1.73%
On assessed value
Assessed land
$208,000
Assessed improvement
$1,463,100
Land market value
$208,000
Improvement market value
$1,463,100
Total market value
$1,671,100
Applied tax rate
11.0000
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
2007
Construction
WOOD
Heating
NONE
Stories
1
Total area
18,912 SF
Lot
13 ac (566,280 SF)
APN
46-05-10-300-019.000-046
UPID
US31-1781051
Jurisdiction
LA PORTE
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
$1.0M
RETAIL STORES
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
MEDICAL BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
2007
Construction
WOOD
Heating
NONE
Stories
1
Lot
13 ac
Current owner
From public records · entity-resolved
Mpm Investments LLC
Entity
Mailing address
8733 W 400TH N, MICHIGAN CITY, IN 46360-9330
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
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
Jul 19, 2018
—
Mpm Investments LLC
—
Deed
related
$1,035,000 · First Midwest Bank
Jul 2, 2018
—
Mpm Investments LLC
—
Deed
related
$2,048 · Standard Bank & Trust Co
Aug 19, 2009
—
Mpm Investments LLC
Glenn Lubeznik
Warranty Deed
—
Feb 2, 2006
—
Mpm Investments LLC
David C Knoll
Warranty 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.
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