New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,765,000
Medical Office Space
1122 State Rd 1st 1 Cambridge City, IN 47327-9472
Entity Owned
Absentee Owner
Free & Clear
Property ID
US31-1514218
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
TYPE NOT SPECIFIED
Total area
27,000 SF
Lot
2.21 ac (96,093 SF)
Zoning code
ZO01
APN
89-08-26-120-303.000-016
UPID
US31-1514218
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$1.77M
Owner & transaction history
REID HOSPITAL & HEALTH CARE SERVICES INC
REID HOSPITAL & HEALTH CARE SERVICES INC
Zoning & alternative use
ZO01 · Cambridge City, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.5M
+45.6%
Retail stores
$2.1M
+23.5%
Restaurant
$2.1M
+22.5%
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 Cambridge City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cambridge City 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
MEDICAL BUILDING
$1,725,000
Current use
AUTO REPAIR, GARAGE
$2,515,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$2,135,000
Change: +24% · Conversion: Difficult
RESTAURANT
$2,115,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,560,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.77M
Range $1.59M – $1.94M · ±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
$65 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$58,240
Tax year 2022
Assessed value
$1,806,000
Assessed 2023
Previous assessed
$1,806,000
+0.0% YoY
Effective rate
3.22%
On assessed value
Assessed land
$103,200
Assessed improvement
$1,702,800
Land market value
$103,200
Improvement market value
$1,702,800
Total market value
$1,806,000
Applied tax rate
19.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
27,000 SF
Lot
2.21 ac (96,093 SF)
Zoning code
ZO01
APN
89-08-26-120-303.000-016
UPID
US31-1514218
Jurisdiction
WAYNE
Zoning & alternative use
ZO01 · Cambridge City, IN
Zoning ZO01 · permitted uses
ZO01 · Cambridge City, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cambridge City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RETAIL STORES
Est. value
$2.1M
RESTAURANT
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.6M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
RESTAURANT
COMMERCIAL (GENERAL)
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
1986
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
2.21 ac
Current owner
From public records · entity-resolved
REID HOSPITAL & HEALTH CARE SERVICES INC
Entity
Free & Clear · 0 yrs held
Mailing address
1100 REID PKWY, RICHMOND, IN 47374-1157
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.
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 1122 State Rd 1st 1?
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.
