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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Retail space
15 Cedar Ln Santa Claus, IN 47579-6000
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-2860479
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Construction
WOOD
Total area
3,440 SF
Lot
1.03 ac (44,649 SF)
APN
74-05-02-100-005.016-005
UPID
US31-2860479
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
-
Fat Santa's Pizza & More Restaurant
-
Frosty's Fun Center Arcade & Gaming Center (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$516k
Blend (final)
Blend
$595k
Owner & transaction history
Kerstiens Capital Partners LLC · 2 yrs held
Kerstiens Capital Partners LLC
since 2023
Last sale
$600,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$380,000
+20.2%
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 Santa Claus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Claus 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
$640,000
ML approach
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$380,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $600k (Aug 21 2023)
Last sale anchor
$600k
Aug 21 2023
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
$173 / 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
$4,198
Tax year 2023
Assessed value
$225,600
Assessed 2023
Previous assessed
$225,600
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$43,900
Assessed improvement
$181,700
Land market value
$43,900
Improvement market value
$181,700
Total market value
$225,600
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
WOOD
Heating
NONE
Stories
1
Total area
3,440 SF
Lot
1.03 ac (44,649 SF)
APN
74-05-02-100-005.016-005
UPID
US31-2860479
Jurisdiction
SPENCER
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
$380,000
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
WOOD
Heating
NONE
Stories
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Kerstiens Capital Partners LLC
Entity
Mailing address
215 ML ST, JASPER, IN 47546-3319
Ownership since
2023
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
Aug 21, 2023
—
Kerstiens Capital Partners LLC
Elf Lane Properties LLC
Warranty Deed
$480,000 · Springs Valley Bank & Trust Company
Aug 21, 2023
$600,000
Kerstiens Capital Partners LLC
Elf Lane Properties LLC
Warranty Deed
$480,000 · Springs Valley Bank & Trust Company
May 6, 2022
$385,000
Elf Lane Properties LLC
Somerlott Properties LLC
Warranty Deed
$385,000 · Freedom Bank
Mar 7, 2018
—
Somerlott Properties LLC
—
Deed
related
$451,077 · Spencer County Bank
Feb 14, 2017
—
Somerlott Properties LLC
—
Deed
related
$444,950 · Spencer County Bank
Jun 3, 2014
—
Somerlott Properties LLC
Fuhs Properties LLC
Warranty Deed
$175,000 · Spencer County 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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