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Property profile & analytics
OFF-MARKET
Commercial real estate
112 Main St Bourbon, IN 46504-1650
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-1499156
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1915
Construction
TYPE NOT SPECIFIED
Total area
7,495 SF
Lot
0.27 ac (11,790 SF)
APN
50-33-24-402-232.000-002
UPID
US31-1499156
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
-
Main Street Boutique & Salon Hair Salon Nail Salon
-
The Way Church Mosque
-
Leave It All Behind Therapeutic Massage Alternative Medicine Practice Spa & Massage Center
-
B.I.G. Load Laundry (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Premier Properties LLC · 2 yrs held
Premier Properties LLC
since 2023
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Bourbon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bourbon 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,631
Tax year 2023
Assessed value
$97,600
Assessed 2023
Previous assessed
$97,600
+0.0% YoY
Effective rate
2.70%
On assessed value
Assessed land
$17,500
Assessed improvement
$80,100
Land market value
$17,500
Improvement market value
$80,100
Total market value
$97,600
Applied tax rate
2.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1915
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Units
2
Total area
7,495 SF
Lot
0.27 ac (11,790 SF)
APN
50-33-24-402-232.000-002
UPID
US31-1499156
Jurisdiction
MARSHALL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1915
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Units
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Premier Properties LLC
Entity
Mailing address
405 S WASHINGTON ST, BOURBON, IN 46504-1726
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2023
—
Premier Properties LLC
Terry Lemler
Warranty Deed
$128,000 · Honor Cu
Dec 18, 2017
$53,000
Terry Lemler
Julie A Boardman
Warranty Deed
—
Oct 12, 2016
—
Bourbon Investments Group LLP
Jeff A Lemler
Trustees Deed
related
—
Oct 5, 2006
—
Jeff A Lemler
Joyce E Roberts
Warranty Deed
—
Apr 28, 2006
—
Jackie S Imus
Fritzi K Broka
Quit Claim 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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