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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Retail space
134 Elm St New Albany, IN 47150-3459
Entity Owned
1-yr Hold
Free & Clear
Property ID
US31-1891578
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Construction
TYPE NOT SPECIFIED
Total area
8,640 SF
Lot
0.21 ac (9,148 SF)
APN
22-05-00-200-031.000-008
UPID
US31-1891578
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
-
Kentuckiana Music Center Vocational School Training Center
-
Point of Creation Studio Art Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$795k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$815k
Owner & transaction history
134 E Elm LLC · 1 yrs held
134 E Elm LLC
since 2025
Last sale
$850,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$670,000
+14.5%
Auto repair, garage
$645,000
+10.2%
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 New Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Albany 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
$770,000
ML approach
$795,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$585,000
Current use
RESTAURANT
$670,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$645,000
Change: +10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$505,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$815k
Range $734k – $897k · ±10% · vs last sale $850k (Mar 18 2025)
Last sale anchor
$850k
Mar 18 2025
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
$94 / 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
$5,269
Tax year 2023
Assessed value
$181,800
Assessed 2023
Previous assessed
$181,800
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$52,700
Assessed improvement
$129,100
Land market value
$52,700
Improvement market value
$129,100
Total market value
$181,800
Applied tax rate
8.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1950
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
8,640 SF
Lot
0.21 ac (9,148 SF)
APN
22-05-00-200-031.000-008
UPID
US31-1891578
Jurisdiction
FLOYD
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
RETAIL STORES Current
Est. value
$585,000
RESTAURANT
Est. value
$670,000
AUTO REPAIR, GARAGE
Est. value
$645,000
COMMERCIAL (GENERAL)
Est. value
$505,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1950
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
134 E Elm LLC
Entity
Free & Clear · 1 yrs held
Mailing address
604 PAYNE RD, NEW ALBANY, IN 47150-8808
Ownership since
2025
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
Mar 18, 2025
$850,000
134 E Elm LLC
Flanagan Hospitality LLC
Deed
—
Jan 31, 2024
—
Flanagan Hospitality LLC
—
Deed
related
$45,000 · New Washington State Bank
Apr 5, 2022
—
Flanagan Hospitality LLC
Z&k Enterprises LLC
Warranty Deed
$695,000 · New Washington State Bank
Jun 9, 2020
—
Z & K Enterprises LLC
—
Deed
related
$675,000 · New Washington State Bank
Jun 1, 2020
—
Z & K Enterprises LLC
Mdm Management LLC
Deed
—
Jul 10, 2018
—
Z & K Enterprises LLC
Mdm Management LLC
Warranty Deed
$492,542 · New Washington State 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.
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