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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Manufacturing properties
111 Industrial Dr Cromwell, IN 46732
Entity Owned
Absentee Owner
Free & Clear
Property ID
US31-2222235
Property summary
AI-generated overview
This exceptional 33,500-square-foot industrial property, located at 111 Industrial Drive in Cromwell, Indiana, presents a unique investment opportunity. Built in 1991, this single-story building sits on a spacious lot within the Cromwell Industrial Park, offering convenient access to State Road 5. The property features a flexible layout suitable for manufacturing or warehousing operations, boasting a 20-foot ceiling height for ample storage and operational space. Loading and unloading are facilitated by two dock-high doors and one drive-in door. The building is entirely vacant, providing immediate occupancy for a new tenant. A distinctive feature is the inclusion of a retro diner-themed kitchenette/break area, adding a unique touch to the workspace. Ample parking is available on-site. The property is zoned for industrial use and is identified by APN 57-16-16-400-150.000-016 in Noble County, Indiana, zip code 46732. This turnkey facility offers immediate occupancy and is ready for your business to thrive. The property's location and features make it an ideal choice for a variety of industrial uses. Contact us today to schedule a showing and explore the possibilities.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1991
Construction
WOOD
Total area
30,000 SF
Lot
5.64 ac (245,461 SF)
APN
57-16-16-400-150.000-016
UPID
US31-2222235
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$655k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$714k
Blend (final)
Blend
$685k
Owner & transaction history
KRE ASSETS LLC
KRE ASSETS LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.1M
+63.0%
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 Cromwell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cromwell 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
$655,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$685,000
Current use
WAREHOUSE, STORAGE
$1,115,000
Change: +63% · Conversion: Easy
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$23 / 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
$20,642
Tax year 2023
Assessed value
$686,800
Assessed 2023
Previous assessed
$686,800
+0.0% YoY
Effective rate
3.01%
On assessed value
Assessed land
$166,600
Assessed improvement
$520,200
Land market value
$166,600
Improvement market value
$520,200
Total market value
$686,800
Applied tax rate
17.0000
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
1991
Construction
WOOD
Heating
NONE
Buildings
3
Stories
1
Total area
30,000 SF
Lot
5.64 ac (245,461 SF)
APN
57-16-16-400-150.000-016
UPID
US31-2222235
Jurisdiction
NOBLE
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
INDUSTRIAL (GENERAL) Current
Est. value
$685,000
WAREHOUSE, STORAGE
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
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
1991
Construction
WOOD
Heating
NONE
Stories
1
Buildings
3
Lot
5.64 ac
Current owner
From public records · entity-resolved
KRE ASSETS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1 INDUSTRIAL DR, CROMWELL, IN 46732-9530
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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