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Property profile & analytics
OFF-MARKET
Estimated value
$2,255,000
Grocery and convenience stores
1200 Nappanee St Elkhart, IN 46514-1732
Entity Owned
2-yr Hold
Free & Clear
Property ID
US31-0150967
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1996
Construction
TYPE NOT SPECIFIED
Total area
80,486 SF
Lot
7.8 ac (339,768 SF)
Zoning code
ZO01
APN
20-02-31-307-010.000-027
UPID
US31-0150967
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
by Request
Blend (final)
Blend
$2.26M
Owner & transaction history
Elkhart Plaza West LLC · 2 yrs held
Elkhart Plaza West LLC
since 2024
7 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, 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 Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart 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
$28 / 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
$136,836
Tax year 2023
Assessed value
$4,481,400
Assessed 2023
Previous assessed
$4,481,400
+0.0% YoY
Effective rate
3.05%
On assessed value
Assessed land
$495,000
Assessed improvement
$3,986,400
Land market value
$495,000
Improvement market value
$3,986,400
Total market value
$4,481,400
Applied tax rate
27.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1996
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Total area
80,486 SF
Lot
7.8 ac (339,768 SF)
Zoning code
ZO01
APN
20-02-31-307-010.000-027
UPID
US31-0150967
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, IN
Zoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkhart. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1996
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Lot
7.8 ac
Current owner
From public records · entity-resolved
Elkhart Plaza West LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3113 S UNIVERSITY DR, FORT WORTH, TX 76109-5616
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2025
—
Elkhart Plaza West LLC
—
Deed
related
$25,000,000 · Guaranty Bank
May 1, 2024
—
Elkhart Plaza West LLC
IV Cvcf Elkhart Plaza LLC
Warranty Deed
—
Apr 21, 2022
—
IV Cvcf Elkhart Plaza LLC
Elkhart Plaza Owner LLC
Warranty Deed
—
Jan 11, 2019
—
Elkhart Plaza Owner LLC
Bre Retail Residual Owner 1 Ll
Grant Deed
$4,420,000 · Cvcf Fund I LLC
Jul 13, 2011
—
Bre Retail Residual Owner 1 Ll
Centro Np Residual Pool 1 Spe
Grant Deed
$1,000,000,000 · Wells Fargo Bank
Feb 18, 2009
—
Np Residual Pool 1 Spe Centro
Hk New Plan Erp Prop Holdings
Grant Deed
$370,000,000 · J P Morgan Chase Bank
—
—
Np Residual Pool 1 Spe Centro
—
Deed Of Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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