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Property profile & analytics
OFF-MARKET
Estimated value
$3,885,000
Warehouses
1139 Baldwin Ave, Marion, IN 46953-1526
Entity Owned
~
Est. High Equity
Property ID
US31-1619471
Property summary
AI-generated overview
This exceptional investment opportunity presents a 68,500-square-foot Class B warehouse in Marion, Indiana. The property, situated on a 4.01-acre lot at 1139 S Baldwin Ave, 46953, is currently 100% occupied under a sale-leaseback agreement. The single-tenant building boasts a 32-foot ceiling height, three loading docks, and six dock-high doors. Built in 1964, the warehouse is zoned LC/TZ and features a 2-year absolute NNN lease with a 2.0% annual rent bump. The asking price is $6,225,000, translating to a price per square foot of $90.88 and a compelling 9.85% cap rate. The current Net Operating Income (NOI) stands at $613,075. This owner-occupied property offers a secure investment with a strong tenant in place, making it an attractive addition to any portfolio. The property's location in Grant County, Indiana, provides excellent access to transportation and logistical networks. This sale-leaseback structure provides a stable income stream with built-in growth potential. The APN is 27-06-12-101-177.000-008.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1964
Construction
TYPE NOT SPECIFIED
Total area
66,527 SF
Lot
4.01 ac (174,588 SF)
APN
27-06-12-101-177.000-008
UPID
US31-1619471
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
-
Collins Group Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.43M
Blend (final)
Blend
$3.89M
Owner & transaction history
COLLINS GROUP, INC,
COLLINS GROUP, INC,
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.3M
+199.8%
Restaurant
$6.1M
+191.4%
Commercial (general)
$5.6M
+166.4%
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 Marion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Marion 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
APARTMENT HOUSE (5+ UNITS)
$6,320,000
Change: +200% · Conversion: Difficult
RESTAURANT
$6,145,000
Change: +191% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,615,000
Change: +166% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,190,000
Change: +99% · Conversion: Easy
RETAIL STORES
$3,895,000
Change: +85% · Conversion: Moderate
MEDICAL BUILDING
$3,350,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$3.89M
Range $3.50M – $4.27M · ±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
$58 / 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
$87,588
Tax year 2023
Assessed value
$2,919,600
Assessed 2023
Previous assessed
$2,919,600
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$440,900
Assessed improvement
$2,478,700
Land market value
$440,900
Improvement market value
$2,478,700
Total market value
$2,919,600
Applied tax rate
15.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1964
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
66,527 SF
Lot
4.01 ac (174,588 SF)
APN
27-06-12-101-177.000-008
UPID
US31-1619471
Jurisdiction
GRANT
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.3M
RESTAURANT
Est. value
$6.1M
COMMERCIAL (GENERAL)
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$4.2M
RETAIL STORES
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1964
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
4.01 ac
Current owner
From public records · entity-resolved
COLLINS GROUP, INC,
Entity
Mailing address
1139 S BALDWIN AVE, MARION, IN 46953-1526
Mailing matches property
Yes
Owner-occupied
Yes
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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