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Property profile & analytics
OFF-MARKET
Estimated value
$2,505,000
Warehouses
12071 State Rd 37 Elwood, IN 46036-8986
Entity Owned
3-yr Hold
Free & Clear
Property ID
US31-1009643
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Construction
WOOD
Total area
34,200 SF
Lot
3.83 ac (166,835 SF)
APN
48-04-11-400-003.000-027
UPID
US31-1009643
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
$2.64M
Comparable Approach
Comparable
$2.37M
Blend (final)
Blend
$2.51M
Owner & transaction history
A & J Manufacturing LLC · 3 yrs held
A & J Manufacturing LLC
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.3M
+81.1%
Retail stores
$3.2M
+79.9%
Auto repair, garage
$2.9M
+59.7%
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 Elwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elwood 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%
$2,860,000
6.5%
$2,640,000
7%
$2,450,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,800,000
Current use
RESTAURANT
$3,260,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$3,240,000
Change: +80% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,875,000
Change: +60% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,685,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$2,425,000
Change: +35% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,900,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$2.51M
Range $2.25M – $2.76M · ±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
$73 / 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
$19,699
Tax year 2023
Assessed value
$710,300
Assessed 2023
Previous assessed
$710,300
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$108,300
Assessed improvement
$602,000
Land market value
$108,300
Improvement market value
$602,000
Total market value
$710,300
Applied tax rate
26.0000
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
1997
Construction
WOOD
Heating
NONE
Stories
1
Total area
34,200 SF
Lot
3.83 ac (166,835 SF)
APN
48-04-11-400-003.000-027
UPID
US31-1009643
Jurisdiction
MADISON
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
WAREHOUSE, STORAGE Current
Est. value
$1.8M
RESTAURANT
Est. value
$3.3M
RETAIL STORES
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (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
1997
Construction
WOOD
Heating
NONE
Stories
1
Lot
3.83 ac
Current owner
From public records · entity-resolved
A & J Manufacturing LLC
Entity
Free & Clear · 3 yrs held
Mailing address
12644 ROSEBERY ST, CARMEL, IN 46032-7384
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2023
—
A & J Manufacturing LLC
Global Xpress Parts LLC
Quit Claim Deed
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.
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