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Property profile & analytics
FOR LEASE
Warehouses
16462 Southpark Dr Westfield, IN 46074
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-2935642
For Lease
1 / 26
Contact for pricing
16462 Southpark Dr, Westfield, IN 46074
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2018
Construction
TYPE NOT SPECIFIED
Total area
18,480 SF
Lot
1.96 ac (85,378 SF)
APN
29-09-12-000-001.000-015
UPID
US31-2935642
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
-
Forever Above Cremation Service Memorial
-
webuyanycar.com Car Dealership
-
Advantage Medical Warehouse Production Facility
-
Dylco Electric, Inc. Electrical Service General Contractor
-
Clay's Flooring & Interiors Carpet & Flooring Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.31M
Comparable Approach
Comparable
$2.80M
Blend (final)
Blend
$2.11M
Owner & transaction history
Southpark LLC · 8 yrs held
Southpark LLC
since 2017
7 recorded transactions
Zoning & alternative use
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 Westfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westfield 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%
$1,420,000
6.5%
$1,310,000
7%
$1,215,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,665,000
Current use
Blend value · Realmo final
$2.11M
Range $1.89M – $2.32M · ±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
$114 / 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
$36,733
Tax year 2023
Assessed value
$1,574,300
Assessed 2023
Previous assessed
$1,574,300
+0.0% YoY
Effective rate
2.33%
On assessed value
Assessed land
$274,400
Assessed improvement
$1,299,900
Land market value
$274,400
Improvement market value
$1,299,900
Total market value
$1,574,300
Applied tax rate
15.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2018
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
18,480 SF
Lot
1.96 ac (85,378 SF)
APN
29-09-12-000-001.000-015
UPID
US31-2935642
Jurisdiction
HAMILTON
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
WAREHOUSE, STORAGE Current
Est. value
$2.7M
WAREHOUSE, STORAGE Current
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
2018
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.96 ac
Current owner
From public records · entity-resolved
Southpark LLC
Entity
Mailing address
12401 OLD MERIDIAN ST, CARMEL, IN 46032-8713
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2022
—
Southpark LLC
—
Deed
related
$100,000 · Horizon Bank
Dec 23, 2019
—
Southpark LLC
—
Deed
related
$1,282,596 · Horizon Bk
Oct 31, 2017
—
Southpark LLC
12400 Old Nmeridian LLC
Quit Claim Deed
related
$1,320,000 · Horizon Bank
Jun 6, 2013
$491,880
Wlb Associates INC
Oak Investments LP West
Warranty Deed
—
Mar 21, 2013
—
Bpic LLC
West Oak Investments LP
Warranty Deed
—
Mar 29, 2010
—
Oak Investments LP West
—
Trustees Deed
related
$65,000 · Hinshaw Velma Living Trust
Jan 7, 2005
—
Kensington Carriage Homes LLC
Westoak Investments
Warranty Deed
$62,700 · Hinshaw Realty INC Money Ppp
Sep 9, 2004
—
C & R Custom Homes LLC
Westoak Investments
Warranty Deed
$1,200,000 · Community Bank NA
Aug 19, 2004
—
Oak Investments West
Oakridge Investments Ltd
Warranty Deed
related
—
—
—
Southpark LLC
—
Loan Modification
related
$1,282,596 · Horizon Bk
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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