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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Warehouses
8885 Louisiana St, Merrillville, IN 46410-7152
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US31-0916969
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2008
Construction
WOOD
Total area
9,600 SF
Lot
1.15 ac (50,268 SF)
APN
45-12-27-277-017.000-030
UPID
US31-0916969
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
-
General Dumpsters Rental Merrillville Recycling Center Waste Management Facility
-
Ayala Construction Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$755k
Owner & transaction history
Ayala Construction INC · 9 yrs held
Ayala Construction INC
since 2016
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$880,000
+23.2%
Retail stores
$730,000
+1.8%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,125,000
6.5%
$1,040,000
7%
$965,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$715,000
Current use
COMMERCIAL (GENERAL)
$880,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$730,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$79 / 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
$16,965
Tax year 2022
Assessed value
$843,200
Assessed 2023
Previous assessed
$812,100
+3.8% YoY
Effective rate
2.01%
On assessed value
Assessed land
$122,400
Assessed improvement
$720,800
Land market value
$122,400
Improvement market value
$720,800
Total market value
$843,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2008
Construction
WOOD
Heating
NONE
Stories
1
Total area
9,600 SF
Lot
1.15 ac (50,268 SF)
APN
45-12-27-277-017.000-030
UPID
US31-0916969
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
WAREHOUSE, STORAGE Current
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$880,000
RETAIL STORES
Est. value
$730,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
2008
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
Ayala Construction INC
Entity
Mailing address
8885 LOUISIANA ST, MERRILLVILLE, IN 46410-7152
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2016
—
Ayala Construction INC
—
Deed
related
$249,000 · Fifth Third Bancorp
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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