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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Office Spaces
1212 Main St Auburn, IN 46706-1232
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0827830
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1987
Construction
WOOD
Total area
5,887 SF
Lot
0.19 ac (8,320 SF)
APN
17-06-29-180-001.000-025
UPID
US31-0827830
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
-
Vision Source Physician
-
Dr. Gary Scheumann, DDS, PC Dental Office
-
Vision Source Innovative Eye Care Optometrist Eye Care Center
-
Douglas C. Morrow, OD Physician
-
Frye Michelle L OD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$535k
Blend (final)
Blend
$575k
Owner & transaction history
Scheumann Morrow Real Estate LLC · 19 yrs held
Scheumann Morrow Real Estate LLC
since 2006
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$445,000
+3.1%
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 Auburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Auburn 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$430,000
Current use
RESTAURANT
$445,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$400,000
Change: -7% · Conversion: Easy
AUTO REPAIR, GARAGE
$385,000
Change: -10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$360,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$98 / 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
$7,320
Tax year 2023
Assessed value
$310,600
Assessed 2023
Previous assessed
$310,600
+0.0% YoY
Effective rate
2.36%
On assessed value
Assessed land
$21,500
Assessed improvement
$289,100
Land market value
$21,500
Improvement market value
$289,100
Total market value
$310,600
Applied tax rate
18.0000
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
1987
Construction
WOOD
Heating
NONE
Stories
2
Total area
5,887 SF
Lot
0.19 ac (8,320 SF)
APN
17-06-29-180-001.000-025
UPID
US31-0827830
Jurisdiction
DE KALB
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
COMMERCIAL (GENERAL) Current
Est. value
$430,000
RESTAURANT
Est. value
$445,000
RETAIL STORES
Est. value
$400,000
AUTO REPAIR, GARAGE
Est. value
$385,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$360,000
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1987
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
Scheumann Morrow Real Estate LLC
Entity
Free & Clear · 19 yrs held
Mailing address
903 MIDWAY DR, AUBURN, IN 46706-1129
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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
Dec 28, 2006
—
Scheumann Morrow Real Estate LLC
Gary A Schcumann
Warranty 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.
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