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Property profile & analytics
OFF-MARKET
Estimated value
$2,215,000
Office Spaces
107 Locust St Boonville, IN 47601-1594
Entity Owned
10-yr Hold
Free & Clear
Property ID
US31-1698384
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1904
Construction
CONCRETE
Total area
28,812 SF
Lot
2.01 ac (87,556 SF)
APN
87-09-26-304-400.000-003
UPID
US31-1698384
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
-
Warrick County Highway Engineer County Government Office
-
Warrick County Health Department Public Health Department
-
Warrick County Extension Office County Government Office
-
Warrick County Surveyor County Government Office
-
Warrick County Emergency Management Public Safety Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.21M
Blend (final)
Blend
$2.22M
Owner & transaction history
Board Of Commissioners Of County In · 10 yrs held
Board Of Commissioners Of County In
since 2015
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.8M
+24.4%
Restaurant
$2.5M
+13.4%
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 Boonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boonville 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)
$2,215,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,755,000
Change: +24% · Conversion: Difficult
RESTAURANT
$2,510,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$2.22M
Range $1.99M – $2.44M · ±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
$77 / 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
Applied tax rate
11.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1904
Construction
CONCRETE
Heating
NONE
Stories
3
Total area
28,812 SF
Lot
2.01 ac (87,556 SF)
APN
87-09-26-304-400.000-003
UPID
US31-1698384
Jurisdiction
WARRICK
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
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
RESTAURANT
Est. value
$2.5M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
1904
Construction
CONCRETE
Heating
NONE
Stories
3
Lot
2.01 ac
Current owner
From public records · entity-resolved
Board Of Commissioners Of County In
Entity
Free & Clear · 10 yrs held
Mailing address
BOONVILLE, IN 47601
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2020
—
Gwn Properties LLC
—
Deed
related
$40,000 · Peoples Trust & Savings Bank
Nov 6, 2015
$7,000
Board Of Commissioners Of County In
Kay E Keller
Warranty Deed
—
Nov 6, 2015
$9,000
Board Of Commissioners Of Warrick C
Derrick A Smith
Warranty Deed
—
Oct 5, 2015
$7,495
Board Of Commissioners Of Warrick C
Charles Davis Brizuis
Warranty Deed
—
Oct 5, 2015
$745
Board Of Commissioners Of Warrick C
Charles David Brizius
Warranty Deed
—
Oct 5, 2015
$8,025
Board Of Commissioners Of Warrick C
Duwayne A Johnson
Warranty Deed
—
Oct 5, 2015
$4,730
Board Of Commissioners Of Warrick C
Leslie P Grimm
Warranty Deed
—
Dec 18, 2008
—
Board Of Commissioners Of Warrick C
Wilma Winge
Personal Representative Deed
—
Jun 21, 2007
—
Board Of Commissoners Of Warrick Co
Jerry W Summer
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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