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Property profile & analytics
OFF-MARKET
Estimated value
$1,575,000
Office Spaces
12204 Grabill Rd Grabill, IN 46741-9635
Individually Owned
3-yr Hold
Property ID
US31-2483565
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1995
Construction
WOOD
Total area
14,051 SF
Lot
19.17 ac (835,176 SF)
APN
02-03-23-153-012.000-082
UPID
US31-2483565
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
$1.90M
Comparable Approach
Comparable
$1.64M
Blend (final)
Blend
$1.58M
Owner & transaction history
Lance Carey · 3 yrs held
Lance Carey
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+4.9%
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 Grabill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grabill 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%
$2,055,000
6.5%
$1,895,000
7%
$1,760,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,010,000
Current use
RETAIL STORES
$1,055,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$1.58M
Range $1.42M – $1.73M · ±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
$112 / 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
Assessed value
$1,816,300
Assessed 2023
Previous assessed
$1,816,300
+0.0% YoY
Assessed land
$306,600
Assessed improvement
$1,509,700
Land market value
$306,600
Improvement market value
$1,509,700
Total market value
$1,816,300
Applied tax rate
43.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1995
Construction
WOOD
Heating
GRAVITY
Buildings
2
Stories
1
Rooms
1
Total area
14,051 SF
Lot
19.17 ac (835,176 SF)
APN
02-03-23-153-012.000-082
UPID
US31-2483565
Jurisdiction
ALLEN
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
$1.0M
RETAIL STORES
Est. value
$1.1M
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
1995
Construction
WOOD
Heating
GRAVITY
Stories
1
Buildings
2
Rooms
1
Lot
19.17 ac
Current owner
From public records · entity-resolved
Lance Carey
Individual
Mailing address
13531 STATE ST, GRABILL, IN 46741-2013
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2023
—
Lance Carey
Sunder Road LLC
Warranty Deed
$172,000 · The Antwerp Exchange Bank Co
Jul 27, 2021
—
Souder Road LLC
Pine Valley Chiropractic 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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