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Property profile & analytics
OFF-MARKET
Estimated value
$1,980,000
Office Spaces
1809 Main St Upland, IN 46989-9257
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-1413556
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1996
Construction
WOOD
Total area
16,890 SF
Lot
1.61 ac (70,132 SF)
APN
27-09-10-400-015.301-013
UPID
US31-1413556
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
-
David E. Lentz, DO - IU Health Ball Memorial Primary Care - Upland Pediatrician Physician
-
Spring Jerilyn Medical Clinic
-
Heidi M. Lakanen, MD Physician
-
Christa A. Yeakle, NP - IU Health Primary Care - Upland Physician
-
Jennifer E. Bosley, NP - IU Health Primary Care - Upland Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.23M
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$1.98M
Owner & transaction history
Taylor University INC · 3 yrs held
Taylor University INC
since 2023
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+39.7%
Apartment house (5+ units)
$1.6M
+28.5%
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 Upland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Upland 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%
$2,415,000
6.5%
$2,230,000
7%
$2,070,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,250,000
Current use
RESTAURANT
$1,745,000
Change: +40% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,605,000
Change: +28% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,195,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.98M
Range $1.78M – $2.18M · ±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
$117 / 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
$9,436
Tax year 2023
Assessed value
$398,400
Assessed 2023
Previous assessed
$398,400
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$25,300
Assessed improvement
$373,100
Land market value
$25,300
Improvement market value
$373,100
Total market value
$398,400
Applied tax rate
19.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1996
Construction
WOOD
Heating
NONE
Stories
1
Total area
16,890 SF
Lot
1.61 ac (70,132 SF)
APN
27-09-10-400-015.301-013
UPID
US31-1413556
Jurisdiction
GRANT
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) Current
Est. value
$1.3M
RESTAURANT
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1996
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Taylor University INC
Entity
Mailing address
236 W READE AVE, UPLAND, IN 46989-1001
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2023
—
Taylor University INC
Shannon D Riegle
Special Warranty Deed
—
Apr 18, 2023
$13,500
State Of Indiana
Shannon D Riegle
Warranty Deed
—
Jan 4, 2021
—
1846 Re 1809 Main St LLC
Shannon D Riegle
Warranty Deed
—
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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