Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11119 Grabill Rd Leo, IN 46765-9415

    • Retail space
    • 5,456 SF
    • 0.49 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2494350
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • East of Chicago / Pizza Restaurant / Pizza Delivery
    • Next Phase Graphics LLC. / Custom T-Shirt Store / Screen Printing Shop
    • PTL Health and Wellness / Health Counselor

    Property Details for 11119 Grabill Rd

    Year built
    1956
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.49 lot acres
    Property size
    5,456 SF
    Property type
    Retail space
    APN
    02-03-22-231-005.000-082
    APU
    20322231005000082

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $211,000
      Market price range: $165k - $591k
      AI Estimate
      $196,000
      Market price range: $196k - $608k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $410,000
      Current use
      COMMERCIAL (GENERAL)
      $390,000
      Change: -5% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Leo
    County
    Allen
    State
    Indiana
    Longitude
    -85.0038
    Latitude
    41.2219
    CBSA code
    23060
    CBSA name
    FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,789
    $63,400
    $80,400
    $143,800
    -
    $63,400
    $80,400
    $143,800

    Comparable in this City

    • Value Estimation
      $95,000
      2,320 SF

      14436 Leo Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,320 SF
      14436 Leo Rd, Leo, IN 46765-9407
      View Details
    • Value Estimation
      $295,000
      6,964 SF

      15013 State Rd 1st 1

      RETAIL STORES (PERSONAL SERVICES) • 6,964 SF
      15013 State Rd 1st 1, Leo, IN 46765-9323
      View Details
    • Value Estimation
      $230,000
      6.00 Acres

      17011 Amstutz Rd

      RETAIL STORES (PERSONAL SERVICES) • 6.00 Acres
      17011 Amstutz Rd, Leo, IN 46765-9523
      View Details
    • Value Estimation
      $270,000
      3,759 SF

      10629 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,759 SF
      10629 Main St, Leo, IN 46765-9322
      View Details
    • Value Estimation
      $265,000
      8,386 SF

      15004 State Rd 1st 1

      RETAIL STORES (PERSONAL SERVICES) • 8,386 SF
      15004 State Rd 1st 1, Leo, IN 46765-9435
      View Details
    • Value Estimation
      $110,000
      13,145 SF

      13821 Leo Rd

      RETAIL STORES (PERSONAL SERVICES) • 13,145 SF
      13821 Leo Rd, Leo, IN 46765-9400
      View Details

    Similar Nearby for Sale

    • $2,257,200
      10,400 SF

      Established Kid City USA Location

      Long-term leased Kid City USA in Leo-Cedarville, Indiana.
      14621 Amstutz Rd, Leo, IN 46765
      View Details
    • $1,900,000
      1.56 Acres

      Leo Road Commercial Opportunity

      Prime location in Leo with high visibility and accessibility.
      14408 Leo Rd, Leo, IN 46765
      View Details
    • $350,000
      0.87 Acres

      Established Car Wash Business Opportunity

      Turnkey car wash with self-service and automatic bays.
      14419 Leo Rd, Leo, IN 46765
      View Details
    • $131,150
      0.31 Acres

      Residential Land in Makarios Place

      0.31 acre residential lot in a desirable subdivision.
      15354 Makarios Pass, Leo, IN 46765
      View Details
    • $149,900
      0.29 Acres

      Residential Land in Makarios Place

      0.29 acre residential lot in desirable Makarios Place.
      15373 Makarios Pass, Leo, IN 46765
      View Details
    • $128,700
      0.48 Acres

      Residential Land in Makarios Place

      0.48 acre lot in desirable Makarios Place subdivision.
      15526 Makarios Pass, Leo, IN 46765
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,994 SF

      New Retail Suites in Leo

      New retail suites available for lease in Leo, Indiana.
      13801 Amstutz Rd, Leo, IN 46765
      View Details
    • $9 SF/Yr
      14,709 SF

      Retail Space in Leo-Cedarville

      Retail spaces available in high-traffic Leo-Cedarville location.
      14550 Amstutz Rd, Cedarville, IN 46765
      View Details
    • $8 SF/Yr
      1,200 SF

      Leo, IN Retail/Office Space

      Charming space with high visibility and accessibility for retail/office use.
      15010 State Road 1, Leo, IN 46765
      View Details
    • $1,500 /Mo
      1,121 SF

      Restored Storefront in Leo-Cedarville

      Historic 1,121 SF storefront in thriving Leo-Cedarville area.
      15026 Center St, Leo, IN 46765
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11119 Grabill Rd
    Leo, IN 46765-9415
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.