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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Retail space
1151 State Rd 1st 1 Cambridge City, IN 47327
Entity Owned
Free & Clear
Property ID
US31-0456513
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2019
Construction
WOOD
Total area
10,790 SF
Lot
1.85 ac (80,499 SF)
Zoning code
ZO01
APN
89-08-26-000-201.001-015
UPID
US31-0456513
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
$465k
CAP Approach
CAP
$610k
Comparable Approach
Comparable
$692k
Blend (final)
Blend
$590k
Owner & transaction history
Hines Commercial Properties I LLC
Hines Commercial Properties I LLC
since 2025
5 recorded transactions
Zoning & alternative use
ZO01 · Cambridge City, IN
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 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
$465,000
CAP Approach
CAP Return
Estimation
6%
$665,000
6.5%
$610,000
7%
$570,000
Alternative Use
Use
Estimation
RETAIL STORES
$475,000
Current use
COMMERCIAL (GENERAL)
$435,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$55 / 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
$38,115
Tax year 2022
Assessed value
$954,000
Assessed 2023
Previous assessed
$954,000
+0.0% YoY
Effective rate
4.00%
On assessed value
Assessed land
$159,200
Assessed improvement
$794,800
Land market value
$159,200
Improvement market value
$794,800
Total market value
$954,000
Applied tax rate
10.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2019
Construction
WOOD
Stories
1
Total area
10,790 SF
Lot
1.85 ac (80,499 SF)
Zoning code
ZO01
APN
89-08-26-000-201.001-015
UPID
US31-0456513
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
RETAIL STORES Current
Est. value
$475,000
COMMERCIAL (GENERAL)
Est. value
$435,000
RETAIL STORES Current
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
2019
Construction
WOOD
Stories
1
Lot
1.85 ac
Current owner
From public records · entity-resolved
Hines Commercial Properties I LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1908 EGMONT RDG WAY, LOUISVILLE, KY 40245-4398
Ownership since
2025
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
Oct 9, 2025
$1,349,459
Hines Commercial Properties I LLC
Crystal Garden Apartments LLC
Warranty Deed
—
Aug 25, 2022
—
Crystal Garden Apartments
—
Deed
related
$1,125,000 · Wesbanco Bank INC
Nov 29, 2021
—
Crystal Garden Apartments
—
Deed
related
$1,000,000 · Wesbanco Bank INC
Sep 8, 2020
—
Crystal Garden Apts
—
Deed
related
$500,000 · Wesbanco Bank INC
Jul 25, 2019
—
Crystal Garden Apartments
Cambridge City Partners
Warranty Deed
$1,210,000 · Wesbanco Bank INC
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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