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    Property profile & analytics

    123 Michigan St Lapaz, IN 46537

    • Retail space
    • 588 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Apr 10, 2025
    Location Intelligence
    Property ID
    US31-1959511
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 123 Michigan St

    Year built
    1920
    Construction
    WOOD
    Lot size
    0.04 lot acres
    Property size
    588 SF
    Property type
    Retail space
    APN
    50-52-95-204-222.000-010
    APU
    505295204222000010

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lapaz
    County
    Marshall
    State
    Indiana
    Longitude
    -86.3078
    Latitude
    41.4586
    CBSA code
    38500
    CBSA name
    PLYMOUTH, IN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $502
    $4,100
    $15,100
    $19,200
    -
    $4,100
    $15,100
    $19,200

    Comparable in this City

    • Value Estimation by Request
      900 SF

      12947 Us 6th 6

      RETAIL STORES (PERSONAL SERVICES) • 900 SF
      12947 Us 6th 6, Lapaz, IN 46537
      View Details
    • Value Estimation by Request
      640 SF

      105 Michigan St

      RETAIL STORES (PERSONAL SERVICES) • 640 SF
      105 Michigan St, Lapaz, IN 46537
      View Details
    • Value Estimation
      $450,000
      8,616 SF

      201 Michigan St

      RETAIL STORES (PERSONAL SERVICES) • 8,616 SF
      201 Michigan St, Lapaz, IN 46537
      View Details
    • Value Estimation by Request
      0.03 Acres

      Michigan St

      RETAIL STORES (PERSONAL SERVICES) • 0.03 Acres
      Michigan St, Lapaz, IN 46537
      View Details
    • Value Estimation
      $410,000
      2,040 SF

      12908 Us 6th 6

      CONVENIENCE STORE • 2,040 SF
      12908 Us 6th 6, Lapaz, IN 46537
      View Details
    • Value Estimation
      $450,000
      9,020 SF

      690 Michigan St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,020 SF
      690 Michigan St, Lapaz, IN 46537
      View Details
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    123 Michigan St
    Lapaz, IN 46537
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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