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Property profile & analytics
FOR LEASE
Office Spaces
9711 Valparaiso Dr Munster, IN 46321
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US31-0448610
For Lease
1 / 2
$22 SF/Yr
9711 Valparaiso Dr, Munster, IN 46321
View Listing →
Property summary
AI-generated overview
This exceptional 2,785 square foot medical office space, located within the 12,579 square foot Gateway Office Center in Munster, Indiana, presents a unique opportunity. Situated on a 1.94-acre lot in Lake County (zip code 46321), this single-tenant space boasts a prime location across from Centennial Park and near numerous amenities including Franciscan Munster Hospital, restaurants, and retail establishments. The interior features a reception area, five exam rooms (adaptable as offices, totaling nine potential offices), four offices, a lab, a breakroom, and two ADA-compliant bathrooms. Large windows offer abundant natural light and views of the landscaped grounds. Three alternative floor plans are available, showcasing the space's versatility. The lease is a modified gross lease
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1992
Construction
WOOD
Total area
12,579 SF
Lot
1.92 ac (83,679 SF)
APN
45-06-36-228-002.000-027
UPID
US31-0448610
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
-
Millies Engineering Group Electrical Engineer Fire Protection Consultant
-
Performance Physical Therapy Physician
-
Layous Medical Group Physician
-
Dr. Fadi Layous Physician
-
Specialized Inventory Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$992k
Blend (final)
Blend
$1.06M
Owner & transaction history
Gateway Concepts INC · 7 yrs held
Gateway Concepts INC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$955,000
+47.5%
Warehouse, storage
$940,000
+44.9%
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 Munster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Munster 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
COMMERCIAL (GENERAL)
$645,000
Current use
RETAIL STORES
$955,000
Change: +48% · Conversion: Easy
WAREHOUSE, STORAGE
$940,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $950k – $1.16M · ±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
$84 / 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
$41,537
Tax year 2022
Assessed value
$1,550,100
Assessed 2023
Previous assessed
$1,545,100
+0.3% YoY
Effective rate
2.68%
On assessed value
Assessed land
$449,500
Assessed improvement
$1,100,600
Land market value
$449,500
Improvement market value
$1,100,600
Total market value
$1,550,100
Applied tax rate
27.0000
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
For Lease
Year built
1992
Construction
WOOD
Heating
NONE
Stories
1
Total area
12,579 SF
Lot
1.92 ac (83,679 SF)
APN
45-06-36-228-002.000-027
UPID
US31-0448610
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
COMMERCIAL (GENERAL) Current
Est. value
$645,000
RETAIL STORES
Est. value
$955,000
WAREHOUSE, STORAGE
Est. value
$940,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1992
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.92 ac
Current owner
From public records · entity-resolved
Gateway Concepts INC
Entity
Mailing address
9711 VALPARAISO DR, MUNSTER, IN 46321-2900
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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 5, 2019
—
Gateway Concepts INC
—
Deed
related
$2,200,000 · Peoples Bank Sb
—
—
Gateway Concepts INC
—
Deed Of Trust
related
—
—
—
Gateway Concepts INC
—
Deed Of Trust
related
$840,000 · Peoples Bank
—
—
Gateway Concepts INC
—
Deed Of Trust
related
$900,000 · First Midwest 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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