New search
Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Office Spaces
901 47th Ave, Gary, IN 46408-4403
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US31-1304787
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1966
Construction
WOOD
Total area
7,529 SF
Lot
2.49 ac (108,552 SF)
APN
45-08-33-176-004.000-001
UPID
US31-1304787
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
-
New Beginnings Christian Ministry, INC Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.15M
Comparable Approach
Comparable
$816k
Blend (final)
Blend
$975k
Owner & transaction history
New Beginnings Christian Minis · 10 yrs held
New Beginnings Christian Minis
since 2015
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Gary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gary 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%
$1,240,000
6.5%
$1,145,000
7%
$1,065,000
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±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
$129 / 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
$10,356
Tax year 2022
Assessed value
$243,100
Assessed 2023
Previous assessed
$222,600
+9.2% YoY
Effective rate
4.26%
On assessed value
Assessed land
$81,000
Assessed improvement
$162,100
Land market value
$81,000
Improvement market value
$162,100
Total market value
$243,100
Applied tax rate
1.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1966
Construction
WOOD
Heating
NONE
Stories
1
Total area
7,529 SF
Lot
2.49 ac (108,552 SF)
APN
45-08-33-176-004.000-001
UPID
US31-1304787
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
Building & site characteristics
From public records
Year built
1966
Construction
WOOD
Heating
NONE
Stories
1
Lot
2.49 ac
Current owner
From public records · entity-resolved
New Beginnings Christian Minis
Individual
Mailing address
3193 LISA ST, PORTAGE, IN 46368-4519
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2015
$27,500
New Beginnings Christian Minis
Sheriff Of Lake County|victory Body Of Christ Full
Trustees Deed
related
—
Jan 2, 2009
—
Victory Body Of Christ Full Gospe
—
Trustees Deed
related
$25,000 · Citizens Financial Bank
Mar 2, 2006
—
Victory Body Of Christ Full Gospe
—
Trustees Deed
related
$35,000 · Peoples Bank
—
—
Victory Body Of Christ Full Gospe
—
Deed Of Trust
related
$200,000 · Citizens Financial Bank
—
—
Victory Body Of Ch Full Gospel Mi
—
Deed Of Trust
related
$100,000 · Horizon Bank
—
—
Victory Body Of Christ Full Gospe
—
Deed Of Trust
related
$216,599 · Citizens Financial Bank
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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