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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Warehouses
1600 Hillcrest Ct Ossian, IN 46777-9124
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US31-2839637
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2013
Construction
WOOD
Total area
5,100 SF
Lot
2.58 ac (112,385 SF)
APN
90-02-21-100-021.006-009
UPID
US31-2839637
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
$715k
Comparable Approach
Comparable
$538k
Blend (final)
Blend
$520k
Owner & transaction history
Hillcrest U Stor LLC · 8 yrs held
Hillcrest U Stor LLC
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$495,000
+130.1%
Retail stores
$360,000
+67.2%
Auto repair, garage
$330,000
+54.4%
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 Ossian submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ossian 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$775,000
6.5%
$715,000
7%
$665,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$495,000
Change: +130% · Conversion: Difficult
RETAIL STORES
$360,000
Change: +67% · Conversion: Moderate
AUTO REPAIR, GARAGE
$330,000
Change: +54% · Conversion: Easy
Blend value · Realmo final
$520k
Range $468k – $572k · ±10%
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
$102 / 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
$11,140
Tax year 2023
Assessed value
$719,100
Assessed 2023
Previous assessed
$719,100
+0.0% YoY
Effective rate
1.55%
On assessed value
Assessed land
$85,200
Assessed improvement
$633,900
Land market value
$85,200
Improvement market value
$633,900
Total market value
$719,100
Applied tax rate
9.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2013
Construction
WOOD
Heating
NONE
Buildings
7
Stories
1
Total area
5,100 SF
Lot
2.58 ac (112,385 SF)
APN
90-02-21-100-021.006-009
UPID
US31-2839637
Jurisdiction
WELLS
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
$495,000
RETAIL STORES
Est. value
$360,000
AUTO REPAIR, GARAGE
Est. value
$330,000
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
2013
Construction
WOOD
Heating
NONE
Stories
1
Buildings
7
Lot
2.58 ac
Current owner
From public records · entity-resolved
Hillcrest U Stor LLC
Entity
Mailing address
720 LITTLE RIV TRCE, OSSIAN, IN 46777-9297
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2020
—
Hillcrest Ustor LLC
—
Deed
related
$1,400,000 · First Merchants Bank NA
Jan 2, 2018
—
Hillcrest U Stor LLC
Harry T Gerber
Deed
$2,100,000 · Hillcrest U Stor LLC
Dec 8, 2017
—
Harry T Gerber
Harry T Gerber
Intrafamily Transfer
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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