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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Medical Office Space
14955 State Rd 23, Granger, IN 46530-7564
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US31-2370989
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1980
Construction
WOOD
Total area
6,392 SF
Lot
0.74 ac (32,078 SF)
APN
71-04-23-101-015.000-011
UPID
US31-2370989
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
$695k
CAP Approach
CAP
$670k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$640k
Owner & transaction history
Great Lakes Investments LLC · 5 yrs held
Great Lakes Investments LLC
since 2020
Last sale
$585,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$540,000
+83.6%
Restaurant
$520,000
+75.9%
Apartment house (5+ units)
$505,000
+70.9%
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 Granger submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Granger 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
$675,000
ML approach
$695,000
CAP Approach
CAP Return
Estimation
6%
$725,000
6.5%
$670,000
7%
$620,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$540,000
Change: +84% · Conversion: Easy
RESTAURANT
$520,000
Change: +76% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$505,000
Change: +71% · Conversion: Moderate
AUTO REPAIR, GARAGE
$495,000
Change: +68% · Conversion: Difficult
RETAIL STORES
$430,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±10% · vs last sale $585k (Oct 5 2020)
Last sale anchor
$585k
Oct 5 2020
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
$100 / 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
$4,885
Tax year 2023
Assessed value
$276,300
Assessed 2023
Previous assessed
$276,300
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$120,600
Assessed improvement
$155,700
Land market value
$120,600
Improvement market value
$155,700
Total market value
$276,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1980
Construction
WOOD
Heating
NONE
Stories
1
Total area
6,392 SF
Lot
0.74 ac (32,078 SF)
APN
71-04-23-101-015.000-011
UPID
US31-2370989
Jurisdiction
ST JOSEPH
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
COMMERCIAL (GENERAL)
Est. value
$540,000
RESTAURANT
Est. value
$520,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$495,000
RETAIL STORES
Est. value
$430,000
COMMERCIAL (GENERAL)
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1980
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.74 ac
Current owner
From public records · entity-resolved
Great Lakes Investments LLC
Entity
Mailing address
14955 STATE RD 23, GRANGER, IN 46530-7564
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2020
$585,000
Great Lakes Investments LLC
Perusek Trust
Deed
$725,000 · Live Oak Banking Co
Dec 16, 2019
—
Perusek Trust
Frank W Perusek
Warranty Deed
—
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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