Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,150,000
Office Spaces
112 Jefferson Blvd 114 South Bend, IN 46601-1923
Entity Owned
3-yr Hold
Free & Clear
Property ID
US31-1902171
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1954
Construction
TYPE NOT SPECIFIED
Total area
55,752 SF
Lot
0.24 ac (10,455 SF)
APN
71-08-12-157-003.000-026
UPID
US31-1902171
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
-
Joseph Hulse Physician
-
The Exchange Bar Bar & Pub
-
Great Lakes Capital Real Estate Agency
-
Thomas Leahy Physician Medical Clinic
-
Dr. Jason Morris Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.91M
Blend (final)
Blend
$5.15M
Owner & transaction history
Chelo West Jefferson LLC · 3 yrs held
Chelo West Jefferson LLC
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.0M
+31.9%
Auto repair, garage
$4.2M
+11.7%
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
COMMERCIAL (GENERAL)
$3,780,000
Current use
RETAIL STORES
$4,990,000
Change: +32% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,220,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$5.15M
Range $4.64M – $5.67M · ±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
$92 / 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
$99,544
Tax year 2023
Assessed value
$2,941,600
Assessed 2023
Previous assessed
$2,941,600
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$30,900
Assessed improvement
$2,910,700
Land market value
$30,900
Improvement market value
$2,910,700
Total market value
$2,941,600
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
Similar Nearby for Lease
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
1954
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
6
Total area
55,752 SF
Lot
0.24 ac (10,455 SF)
APN
71-08-12-157-003.000-026
UPID
US31-1902171
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
COMMERCIAL (GENERAL) Current
Est. value
$3.8M
RETAIL STORES
Est. value
$5.0M
AUTO REPAIR, GARAGE
Est. value
$4.2M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
1954
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
6
Lot
0.24 ac
Current owner
From public records · entity-resolved
Chelo West Jefferson LLC
Entity
Free & Clear · 3 yrs held
Mailing address
13241 STATE HWY 155TH S, TYLER, TX 75703-6552
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2023
—
Chelo West Jefferson LLC
112 West Jeff LLC
Special Warranty Deed
—
Jan 30, 2012
—
112 West Jeff LLC
Wells Fargo Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 112 Jefferson Blvd, Unit 114?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
