New search
Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Office Spaces
120 Lk St Warsaw, IN 46580-2850
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US31-1794472
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1931
Construction
TYPE NOT SPECIFIED
Total area
10,513 SF
Lot
0.4 ac (17,424 SF)
Zoning code
C-4 C
APN
43-11-08-300-048.000-032
UPID
US31-1794472
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
-
Forte Residential, Inc. Corporate Corporate Office
-
Millstone Medical Outsourcing Medical Clinic Hospital
-
Forte Home Health Care Inc Home Health Care Service
-
First Source Asset Advisors Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.02M
Comparable Approach
Comparable
$922k
Blend (final)
Blend
$970k
Owner & transaction history
Firstlight Enterprises LLC · 9 yrs held
Firstlight Enterprises LLC
since 2017
2 recorded transactions
Zoning & alternative use
C-4 C · Warsaw, 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 Warsaw submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Warsaw 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%
$1,100,000
6.5%
$1,015,000
7%
$945,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$665,000
Current use
RETAIL STORES
$665,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±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
$14,444
Tax year 2023
Assessed value
$585,400
Assessed 2023
Previous assessed
$585,400
+0.0% YoY
Effective rate
2.47%
On assessed value
Assessed land
$205,500
Assessed improvement
$379,900
Land market value
$205,500
Improvement market value
$379,900
Total market value
$585,400
Applied tax rate
32.0000
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
1931
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
10,513 SF
Lot
0.4 ac (17,424 SF)
Zoning code
C-4 C
APN
43-11-08-300-048.000-032
UPID
US31-1794472
Jurisdiction
KOSCIUSKO
Zoning & alternative use
C-4 C · Warsaw, IN
Zoning C-4 C · permitted uses
C-4 C · Warsaw, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Warsaw. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$665,000
RETAIL STORES
Est. value
$665,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1931
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
0.4 ac
Current owner
From public records · entity-resolved
Firstlight Enterprises LLC
Entity
Mailing address
6879 N KALORAMA RD, LEESBURG, IN 46538-9177
Ownership since
2017
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
Feb 2, 2017
$550,000
Firstlight Enterprises LLC
S & G Properties
Warranty Deed
$390,953 · Horizon Bank NA
Oct 23, 2014
—
Evelyn L Marsh
1st Source Bank
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 120 Lk St?
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.
