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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Manufacturing properties
1235 Hively Ave Elkhart, IN 46517-1555
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0130610
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1989
Construction
WOOD
Total area
38,400 SF
Lot
3.01 ac (131,246 SF)
Zoning code
ZO01
APN
20-06-18-426-025.000-011
UPID
US31-0130610
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
-
Exemplary Foam Production Facility Industrial Manufacturer
-
BRUZER™ LESS LETHAL Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$770k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.53M
Blend (final)
Blend
$1.10M
Owner & transaction history
Generational Re II LLC · 5 yrs held
Generational Re II LLC
since 2021
7 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart 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
$770,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,355,000
Current use
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±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
$29 / 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
$38,228
Tax year 2023
Assessed value
$1,265,700
Assessed 2023
Previous assessed
$1,265,700
+0.0% YoY
Effective rate
3.02%
On assessed value
Assessed land
$98,000
Assessed improvement
$1,167,700
Land market value
$98,000
Improvement market value
$1,167,700
Total market value
$1,265,700
Applied tax rate
11.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1989
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
38,400 SF
Lot
3.01 ac (131,246 SF)
Zoning code
ZO01
APN
20-06-18-426-025.000-011
UPID
US31-0130610
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, IN
Zoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkhart. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.4M
INDUSTRIAL (GENERAL) Current
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
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
3.01 ac
Current owner
From public records · entity-resolved
Generational Re II LLC
Entity
Mailing address
71930 COUNTY RD 9TH 9, NAPPANEE, IN 46550-9442
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2021
$1,430,000
Generational Re II LLC
Teach Rel Estate II LLC
Special Warranty Deed
$1,027,183 · Lake City Federal Bank
Aug 5, 2019
—
Teach Real Estate II LLC
—
Deed
related
$1,581,464 · First Source Bk
Mar 28, 2013
—
Teach Real Estate II LLC
Teach Real Estate LLC
Quit Claim Deed
—
Dec 4, 2007
—
Teach R Of E LLC/elkhart Indiana
Felsenthal E G S D Trust
Grant Deed
$3,166,533 · First Source Bank
Feb 25, 2004
$800,000
James R Felsenthal
Reed,thomas C
Grant Deed
—
—
—
Teach Real Estate II LLC
—
Loan Modification
related
$1,581,464 · First Source Bk
—
—
Teach Real Estate II LLC
—
Deed Of Trust
related
$400,000 · First Source 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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