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Property profile & analytics
OFF-MARKET
Estimated value
$1,415,000
Warehouses
1011 Walnut St South Bend, IN 46619-4302
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-2397664
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1979
Construction
CONCRETE
Total area
21,680 SF
Lot
8.27 ac (360,241 SF)
APN
71-08-14-101-002.000-026
UPID
US31-2397664
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
-
Alex Asphalt Paving LLC Building Supply Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.42M
Owner & transaction history
Denver Calhoun · 2 yrs held
Denver Calhoun
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+109.7%
Auto repair, garage
$1.6M
+77.5%
Commercial (general)
$1.5M
+59.0%
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 South Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Bend 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
WAREHOUSE, STORAGE
$925,000
Current use
RETAIL STORES
$1,940,000
Change: +110% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,640,000
Change: +78% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,470,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$1.42M
Range $1.27M – $1.56M · ±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
$65 / 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
$17,113
Tax year 2023
Assessed value
$505,700
Assessed 2023
Previous assessed
$505,700
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$146,400
Assessed improvement
$359,300
Land market value
$146,400
Improvement market value
$359,300
Total market value
$505,700
Applied tax rate
26.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1979
Construction
CONCRETE
Heating
NONE
Buildings
4
Stories
2
Total area
21,680 SF
Lot
8.27 ac (360,241 SF)
APN
71-08-14-101-002.000-026
UPID
US31-2397664
Jurisdiction
ST JOSEPH
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
WAREHOUSE, STORAGE Current
Est. value
$925,000
RETAIL STORES
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1979
Construction
CONCRETE
Heating
NONE
Stories
2
Buildings
4
Lot
8.27 ac
Current owner
From public records · entity-resolved
Denver Calhoun
Individual
Mailing address
7050 S STATE RD 3RD 3, SOUTH MILFORD, IN 46786
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2023
$817,861
Denver Calhoun
St Joseph County Sheriff
Sheriffs Deed
related
—
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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