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Property profile & analytics
OFF-MARKET
Medical Office Space
1401 Michigan St Elkhart, IN 46514-2209
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US31-1231597
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2013
Construction
TYPE NOT SPECIFIED
Total area
6,706 SF
Lot
1.91 ac (83,200 SF)
Zoning code
ZO01
APN
20-02-31-427-030.000-027
UPID
US31-1231597
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
-
DaVita Elkhart Dialysis Medical Clinic
-
DaVita Elkhart At Home Medical Clinic
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
Realty Income Props 27 LLC · 8 yrs held
Realty Income Props 27 LLC
since 2018
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
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
$40,495
Tax year 2023
Assessed value
$1,332,600
Assessed 2023
Previous assessed
$1,332,600
+0.0% YoY
Effective rate
3.04%
On assessed value
Assessed land
$133,700
Assessed improvement
$1,198,900
Land market value
$133,700
Improvement market value
$1,198,900
Total market value
$1,332,600
Applied tax rate
27.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2013
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
6,706 SF
Lot
1.91 ac (83,200 SF)
Zoning code
ZO01
APN
20-02-31-427-030.000-027
UPID
US31-1231597
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.
Building & site characteristics
From public records
Year built
2013
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.91 ac
Current owner
From public records · entity-resolved
Realty Income Props 27 LLC
Entity
Mailing address
PO BOX 1476, TACOMA, WA 98401-1476
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2018
—
Realty Income Props 27 LLC
Art Elkhart LLC
Grant Deed
related
—
Mar 20, 2018
—
Art Elkhart LLC
Areteaus Realty LP
Quit Claim Deed
related
—
Jan 23, 2015
—
Art Elkhart LLC
—
Grant Deed
related
$1,522,091 · Areteaus Realty LP
Jul 11, 2014
—
Art Elkhart LLC
Trk Elkhart Properties LLC
Quit Claim Deed
related
—
Jul 2, 2014
—
Areteaus Realty LP
Trk Elkhart Properties LLC
Warranty Deed
—
Mar 14, 2012
—
Bristol Dg Properties LLC
Indy 1 Investments LLC
Warranty Deed
$1,061,851 · First Financial Bank NA
Aug 30, 2006
—
Indy 1 Investments LLC
Bayer Health Care LLC
Warranty Deed
related
—
—
—
Art Elkhart LLC
—
Deed Of Trust
related
$55,000,000 · * Other Institutional Lenders
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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