Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    921 Calumet Ave Dyer, IN 46311
    Back to Search
    Property profile & analytics

    921 Calumet Ave, Dyer, IN 46311

    View on Map
    • Commercial real estate
    • 2.00 lot acres
    Off-Market
    Property ID
    US31-2574905
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 921 Calumet Ave

    Lot size
    2.00 lot acres
    Property type
    Commercial real estate
    APN
    45-11-06-301-003.000-034

    Description

    This exceptional 2-acre commercial land parcel, located at 921 Calumet Avenue in Dyer, Indiana (46311), presents a prime development opportunity. Situated within the Calumet Avenue District, this property boasts approved plans for a two-story, 20,000-square-foot office building, perfect for medical or professional office uses. The site is part of a larger development project that will include a senior living facility and a childcare center, creating a vibrant and desirable location. The property's convenient location offers easy access to major transportation routes and is strategically positioned just south of Munster, Indiana. With its proximity to Chicago (approximately 30 miles from downtown and 12 miles from the south side), this site benefits from a strong regional market and a growing population base. The property's APN is 45-11-06-301-003.000-034. This is a rare opportunity to acquire a fully approved development site in a thriving community. The land is zoned for commercial use within Lake County, offering significant potential for investors and developers seeking a high-return investment in a rapidly developing area. This 2-acre site offers a unique blend of convenience, accessibility, and future development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dyer
    County
    Lake
    State
    Indiana
    Longitude
    -87.507551
    Latitude
    41.514789

    Comparable in this City

    • $419,900
      1.41 Acres

      Versatile Land with Commercial Potential

      Vacant land suitable for commercial or residential development.
      1211 Joliet St, Dyer, IN 46311
      View Details
    • Contact for pricing

      Dyer Land with High Visibility

      Prime Dyer location with high traffic and utility access.
      1451 Joliet St, Dyer, IN 46311
      View Details
    • Contact for pricing

      Dyer Commercial Property on Joliet

      Versatile 2,644 SF property suitable for offices or retail.
      1275 Joliet St, Dyer, IN 46311
      View Details
    • $170,000
      6.64 Acres

      Scenic Land in Whispering Woods

      Approximately 11 acres in scenic Whispering Woods, Dyer, Indiana.
      14566 W 86Th Pl, Dyer, IN 46311
      View Details
    • $385,000
      2.00 Acres

      Prime Dyer Location Land

      High-visibility land in Dyer, suitable for various commercial uses.
      1451 Joliet St, Dyer, IN 46311
      View Details
    • Contact for pricing

      Commercial Land on US 30

      Commercial land with frontage on US 30 in Dyer, Indiana.
      Calumet Ave, Dyer, IN 46311
      View Details

    Similar Nearby for Sale

    • $419,900
      1.41 Acres

      Versatile Land with Commercial Potential

      Vacant land suitable for commercial or residential development.
      1211 Joliet St, Dyer, IN 46311
      View Details
    • Contact for pricing

      Dyer Land with High Visibility

      Prime Dyer location with high traffic and utility access.
      1451 Joliet St, Dyer, IN 46311
      View Details
    • Contact for pricing

      Dyer Commercial Property on Joliet

      Versatile 2,644 SF property suitable for offices or retail.
      1275 Joliet St, Dyer, IN 46311
      View Details
    • Contact for pricing

      Commercial Land on US 30

      Commercial land with frontage on US 30 in Dyer, Indiana.
      Calumet Ave, Dyer, IN 46311
      View Details
    • New
      $49,900
      0.46 Acres

      Vacant Land in Dyer, Indiana

      Vacant land available in Dyer, Indiana, under 60K.
      14211 Jay St, Dyer, IN 46311
      View Details
    • New
      $525,000
      1.00 Acre

      Dyer, IN Land For Sale

      One acre parcel with long-term commercial potential in Dyer.
      15220 W 101St Ave, Dyer, IN 46311
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Prime Commercial Space Available

      Over 10,000 sqft of commercial space in prime location.
      10201 Calumet Ave, Dyer, IN 46311
      View Details
    • $1,850 /Mo
      815 SF

      Dyer Office Space For Rent

      Well-appointed 815 sq ft office space in desirable Dyer location.
      1203 Sheffield Ave, Dyer, IN 46311
      View Details
    • Contact for pricing

      New QSR Construction in Dyer

      New quick service restaurant construction for lease in Dyer, Indiana.
      10107 Mondorf St, Dyer, IN 46311
      View Details
    • Contact for pricing

      New QSR Construction For Lease

      New quick service restaurant space available in Dyer, Indiana.
      10107 Mondorf St, Dyer, IN 46311
      View Details
    • Contact for pricing

      Retail Space in Dyer Town

      Retail space for lease anchored by Jewel-Osco.
      801-907 Joliet St, Dyer, IN 46311
      View Details
    • Contact for pricing

      Medical Time Share Suite

      5,500 SF medical time share suite available for lease.
      425 Joliet St, Dyer, IN 46311
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    921 Calumet Ave
    Dyer, IN 46311
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    921 Calumet Ave, Dyer, IN, 46311
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!