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    • Brokers

    Raylene Webb, Indianapolis, IN

    License ID: RB17000452
    Years of Experience
    7
    Association
    Upstate Alliance Of Realtors

    Service Locations

    Contact details

    Phone:
    (260) 715-2765
    Office Address:
    9600 Great Hills Trail, Suite 150W, Austin, TX 78759

    Property Types

    • Land
    • Residential Multi Family

    Performance

    Listings
    9
    Total transactions
    204
    Total transactions amount
    $33M
    Price range
    $108k - 243k
    Average price
    $162k

    Listings

    For Sale (9)

    View map
    • Contact for pricing
      0.77 Acres

      Residential Land Near Leesburg Intersection

      Vacant land ideal for residential development or investment property.
      Butler Rd, Fort Wayne, IN 46808
      View Details
    • Contact for pricing
      0.04 Acres

      Vacant Residential Land in Kokomo

      Cleared city lot ready for new construction in Kokomo.
      113 W Gano St, Kokomo, IN 46901
      View Details
    • Contact for pricing
      0.12 Acres

      Cleared Residential Lot in Anderson

      Vacant 0.12 acre lot ready for development in Anderson, Indiana.
      212 Clifford St, Anderson, IN 46012
      View Details
    • Contact for pricing
      0.18 Acres

      Residential Land in Prime Location

      Vacant lot in the heart of the city.
      1208 Fairview Ave, Fort Wayne, IN 46803
      View Details
    • $59,995
      0.52 Acres

      Residential Land in Fort Wayne

      Vacant residential lot offers over half an acre of possibilities.
      2600 Blk Timbers Dr, Fort Wayne, IN 46809
      View Details
    • Contact for pricing
      0.12 Acres

      South Bend Residential Land Opportunity

      Vacant lot in South Bend ready for development.
      1321 Huey St, South Bend, IN 46628
      View Details
    • $174,995
      Pending

      Updated Duplex in Fort Wayne

      Updated duplex with five bedrooms, ideal for investors or families.
      1235 Huestis Ave, Fort Wayne, IN 46807
      View Details
    • Contact for pricing
      0.12 Acres

      Fort Wayne Residential Land Opportunity

      Vacant R3 zoned lot in established Fort Wayne neighborhood.
      1429 Lillie St, Fort Wayne, IN 46803
      View Details
    • $35,000
      0.37 Acres

      Residential Land in Peaceful Cul-de-Sac

      Vacant lot in Albion, Indiana, ready for your dream home.
      631 Trail Ridge Rd, Albion, IN 46701
      View Details

    Leases and Sales on Map

    • For Sale

    Properties for sale

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    Raylene Webb, Indianapolis, IN
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    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.

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    Raylene Webb, Indianapolis, IN
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