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Property profile & analytics
OFF-MARKET
Estimated value
$4,700,000
Manufacturing properties
507 Indiana St Edon, OH 43518-9644
Individually Owned
3-yr Hold
Free & Clear
Property ID
US66-2904904
Property summary
AI-generated overview
This exceptional 127,461-square-foot industrial property, located at 507 W Indiana St, Edon, Ohio 43518, presents a unique opportunity for a single tenant. Built in 1920 and extensively renovated in 2023, this one-story building offers a blend of executive office space and warehouse functionality. The property sits on a generous 7.86-acre lot and boasts impressive features including 18' to 21' ceiling heights, ideal for various industrial uses. Access is facilitated by eight dock-high doors and seven drive-ins, ensuring efficient loading and unloading. Ample parking is available with 111 spaces, including three ADA-compliant spots. The property benefits from robust power capabilities, featuring 480V 3-phase power with 6600 amps. The zoning is (M-2) Industrial (Heavy), allowing for a wide range of industrial operations. The property is conveniently situated on a two-lane, two-way street, with N. Michigan Street as a cross street. The property's APN is 071-200-05-007.000
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1920
Total area
58,346 SF
Lot
4.43 ac (192,971 SF)
APN
071-200-05-016.000
UPID
US66-2904904
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
-
Mobex Global Industrial Manufacturer Production Facility
-
Mobex Global - Busche Performance - Edon Division Metal Fabrication Plant Factory
-
Busche Performance Group Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.93M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.70M
Owner & transaction history
Edon Northwest Schools Board Educat · 3 yrs held
Edon Northwest Schools Board Educat
since 2023
Last sale
$4.5M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.6M
+352.0%
Commercial (general)
$4.6M
+265.8%
Medical building
$4.2M
+239.8%
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 Edon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edon 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
$4,880,000
ML approach
$4,925,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,625,000
Change: +352% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,550,000
Change: +266% · Conversion: Difficult
MEDICAL BUILDING
$4,230,000
Change: +240% · Conversion: Difficult
RESTAURANT
$3,980,000
Change: +220% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,860,000
Change: +210% · Conversion: Easy
WAREHOUSE, STORAGE
$3,775,000
Change: +203% · Conversion: Easy
RETAIL STORES
$3,140,000
Change: +152% · Conversion: Moderate
Blend value · Realmo final
$4.70M
Range $4.23M – $5.17M · ±10% · vs last sale $4.50M (Mar 20 2023)
Last sale anchor
$4.50M
Mar 20 2023
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
$81 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,759
Tax year 2023
Assessed value
$300,200
Assessed 2023
Previous assessed
$300,200
+0.0% YoY
Effective rate
2.25%
On assessed value
Assessed land
$55,270
Assessed improvement
$244,930
Land market value
$157,900
Improvement market value
$699,800
Total market value
$857,700
Applied tax rate
55.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1920
Heating
NONE
Buildings
3
Stories
1
Total area
58,346 SF
Lot
4.43 ac (192,971 SF)
APN
071-200-05-016.000
UPID
US66-2904904
Jurisdiction
WILLIAMS
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
OFFICE BUILDING
Est. value
$5.6M
COMMERCIAL (GENERAL)
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$4.2M
RESTAURANT
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.9M
WAREHOUSE, STORAGE
Est. value
$3.8M
RETAIL STORES
Est. value
$3.1M
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1920
Heating
NONE
Stories
1
Buildings
3
Lot
4.43 ac
Current owner
From public records · entity-resolved
Edon Northwest Schools Board Educat
Individual
Free & Clear · 3 yrs held
Mailing address
2201 WILLENBORG ST STE #2, EFFINGHAM, IL 62401-4685
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2023
—
Copperfoam Properties LLC
—
Deed
related
$2,380,000 · Midland States Bank
Mar 20, 2023
—
Edon Northwest Schools Board Educat
Copperfoam Properties LLC
Quit Claim Deed
related
—
Nov 5, 2021
$4,500,000
Copperfoam Properties LLC
NA Busche LLC
Limited Warranty Deed
$3,700,000 · Midland States Bank
Jun 28, 2017
$676,300
NA Busche LLC
Spirit Master Funding IV LLC
Limited Warranty Deed
—
Feb 26, 2007
$3,570,000
Spirit Spe Portfolio 2007-1 LLC
Kojaian Md Indiana Ohio L L C
Limited Warranty Deed
—
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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