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Property profile & analytics
FOR SALE
Office Spaces
126 E 4Th St Michigan City, IN 46360
Trust Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-1862388
For Sale
Contact for pricing
126 E 4Th St, Michigan City, IN 46360
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1904
Construction
WOOD
Total area
3,960 SF
Lot
0.09 ac (3,960 SF)
APN
46-01-29-259-002.000-022
UPID
US31-1862388
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kerrigan Trust · 4 yrs held
Kerrigan Trust
since 2021
6 recorded transactions
Zoning & alternative use
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 Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,543
Tax year 2023
Assessed value
$116,900
Assessed 2023
Previous assessed
$116,900
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$33,700
Assessed improvement
$83,200
Land market value
$33,700
Improvement market value
$83,200
Total market value
$116,900
Applied tax rate
42.0000
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
For Sale
Year built
1904
Construction
WOOD
Heating
NONE
Stories
1
Total area
3,960 SF
Lot
0.09 ac (3,960 SF)
APN
46-01-29-259-002.000-022
UPID
US31-1862388
Jurisdiction
LA PORTE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1904
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Kerrigan Trust
Trust
Free & Clear · 4 yrs held
Mailing address
457 N RACINE AVE, CHICAGO, IL 60642-5841
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2021
—
Kerrigan Trust
Myles J Kerrigan
Deed
—
Oct 30, 2020
—
Pine Plaza LLC
Fifth Third Bank NA
Special Warranty Deed
—
Aug 20, 2018
—
Myles J Kerrigan Revocable Living T
Nief Realty LLC
Warranty Deed
—
Jan 12, 2017
$218,000
Nief Realty LLC
126 W 4th LLC
Warranty Deed
—
Jul 19, 2007
—
126 W 4th Street LLC
Northern In Education Foundation In
Corporation Deed
—
Dec 19, 2005
—
Northern Indiana Education Foundati
126 W 4th Street 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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