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Property profile & analytics
OFF-MARKET
Estimated value
$2,660,000
Strip malls
1211 Madison Ave Greenwood, IN 46142-4300
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1178406
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
TYPE NOT SPECIFIED
Total area
29,858 SF
Lot
3.85 ac (167,706 SF)
APN
41-02-29-024-028.001-026
UPID
US31-1178406
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
-
Domino's Pizza Take-out & Catering
-
Stepping Stones Academy Daycare Center
-
Green Vape & Smoke 3 (Bike/Boat/Book/etc) Store
-
Bitcoin ATM by Crypto Dispensers Crypto Atm Currency Exchange Service
-
Beauty Way Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.66M
Owner & transaction history
Goulas Leasing & Management LLC · 4 yrs held
Goulas Leasing & Management LLC
since 2021
Last sale
$2.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.2M
+261.4%
Auto repair, garage
$2.3M
+162.7%
Retail stores
$2.2M
+144.0%
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 Greenwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Greenwood 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
$2,630,000
ML approach
$2,770,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,180,000
Change: +261% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,315,000
Change: +163% · Conversion: Difficult
RETAIL STORES
$2,150,000
Change: +144% · Conversion: Easy
MEDICAL BUILDING
$2,145,000
Change: +144% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,060,000
Change: +134% · Conversion: Easy
Blend value · Realmo final
$2.66M
Range $2.39M – $2.93M · ±10% · vs last sale $2.62M (Nov 10 2021)
Last sale anchor
$2.62M
Nov 10 2021
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
$89 / 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
$26,850
Tax year 2023
Assessed value
$1,459,100
Assessed 2023
Previous assessed
$1,459,100
+0.0% YoY
Effective rate
1.84%
On assessed value
Assessed land
$733,300
Assessed improvement
$725,800
Land market value
$733,300
Improvement market value
$725,800
Total market value
$1,459,100
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
6
Total area
29,858 SF
Lot
3.85 ac (167,706 SF)
APN
41-02-29-024-028.001-026
UPID
US31-1178406
Jurisdiction
JOHNSON
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
RESTAURANT
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.3M
RETAIL STORES
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.1M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
6
Lot
3.85 ac
Current owner
From public records · entity-resolved
Goulas Leasing & Management LLC
Entity
Mailing address
7867 JUNIPER LN, AVON, IN 46123-9809
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Nov 10, 2021
$2,615,000
Goulas Leasing & Management LLC
Murnel Property LLC
Warranty Deed
$2,092,000 · Citizens Bank
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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