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Property profile & analytics
OFF-MARKET
Estimated value
$13,410,000
Warehouses
1784 Main St Greenwood, IN 46143-9089
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-2931263
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2019
Construction
TYPE NOT SPECIFIED
Total area
156,000 SF
Lot
10.66 ac (464,306 SF)
APN
41-02-34-014-003.002-030
UPID
US31-2931263
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
-
FGX International (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.58M
CAP Approach
CAP
$13.03M
Comparable Approach
Comparable
$14.03M
Blend (final)
Blend
$13.41M
Owner & transaction history
Areit Greenwood Business Center LLC · 1 yrs held
Areit Greenwood Business Center LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$21.9M
+50.1%
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 Greenwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Greenwood 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
$17,000,000
ML approach
$9,575,000
CAP Approach
CAP Return
Estimation
6%
$14,115,000
6.5%
$13,030,000
7%
$12,095,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$14,570,000
Current use
RETAIL STORES
$21,865,000
Change: +50% · Conversion: Moderate
Blend value · Realmo final
$13.41M
Range $12.07M – $14.75M · ±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
$86 / 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
$61,803
Tax year 2023
Assessed value
$7,822,700
Assessed 2023
Previous assessed
$7,822,700
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$934,100
Assessed improvement
$6,888,600
Land market value
$934,100
Improvement market value
$6,888,600
Total market value
$7,822,700
Applied tax rate
30.0000
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
Off-Market
Year built
2019
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
156,000 SF
Lot
10.66 ac (464,306 SF)
APN
41-02-34-014-003.002-030
UPID
US31-2931263
Jurisdiction
JOHNSON
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
$14.6M
RETAIL STORES
Est. value
$21.9M
WAREHOUSE, STORAGE Current
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
2019
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
10.66 ac
Current owner
From public records · entity-resolved
Areit Greenwood Business Center LLC
Entity
Free & Clear · 1 yrs held
Mailing address
518 17TH ST #17, DENVER, CO 80202-4130
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Mar 21, 2025
—
Areit Greenwood Business Center LLC
Adrex Diversified II LLC
Special Warranty Deed
—
Aug 5, 2021
$16,900,000
Bcdpf Greenwood Business Center LLC
Lm Vp Greenwood LLC
Special Warranty Deed
—
Oct 22, 2019
—
Lm Vp Greenwood LLC
—
Deed
related
$6,420,000 · Regions 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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