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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Medical Office Space
1603 Scatterfield Rd Anderson, IN 46016-5788
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0743725
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2003
Construction
WOOD
Total area
6,175 SF
Lot
1.51 ac (65,776 SF)
APN
48-12-18-104-005.000-003
UPID
US31-0743725
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
-
Eye Surgeons of Indiana Physician Ophthalmologist
-
Wahl Brenda OD Physician
-
Patel Chirag MD Physician
-
Huseman Sarah OD Physician
-
Dr. Janet M. Hummer, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$642k
Blend (final)
Blend
$515k
Owner & transaction history
Gr8 Holdings LLC · 4 yrs held
Gr8 Holdings LLC
since 2021
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$625,000
+43.3%
Restaurant
$570,000
+30.6%
Retail stores
$530,000
+21.9%
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 Anderson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Anderson 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
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$435,000
Current use
AUTO REPAIR, GARAGE
$625,000
Change: +43% · Conversion: Difficult
RESTAURANT
$570,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$530,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$440,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$83 / 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
$23,051
Tax year 2023
Assessed value
$712,100
Assessed 2023
Previous assessed
$712,100
+0.0% YoY
Effective rate
3.24%
On assessed value
Assessed land
$385,100
Assessed improvement
$327,000
Land market value
$385,100
Improvement market value
$327,000
Total market value
$712,100
Applied tax rate
18.0000
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
2003
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
6,175 SF
Lot
1.51 ac (65,776 SF)
APN
48-12-18-104-005.000-003
UPID
US31-0743725
Jurisdiction
MADISON
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
MEDICAL BUILDING Current
Est. value
$435,000
AUTO REPAIR, GARAGE
Est. value
$625,000
RESTAURANT
Est. value
$570,000
RETAIL STORES
Est. value
$530,000
COMMERCIAL (GENERAL)
Est. value
$440,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
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
2003
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
1.51 ac
Current owner
From public records · entity-resolved
Gr8 Holdings LLC
Entity
Mailing address
505 W MAIN ST, ARTESIA, NM 88210-2067
Ownership since
2021
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
Jul 15, 2021
—
Gr8 Holdings LLC
White River Medical Offices LLC
Special Warranty Deed
—
Aug 1, 2017
—
White River Medical Offices
—
Deed
related
$90,000 · Stock Yards Bank & Trust Co
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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