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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Office Spaces
189 Umbarger Ln Franklin, IN 46131
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-0822232
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1996
Construction
WOOD
Total area
5,984 SF
Lot
1.02 ac (44,605 SF)
APN
41-07-18-043-006.000-018
UPID
US31-0822232
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
$850k
CAP Approach
CAP
$955k
Comparable Approach
Comparable
$764k
Blend (final)
Blend
$850k
Owner & transaction history
Britt Properties Of Indiana LLC · 2 yrs held
Britt Properties Of Indiana LLC
since 2024
Last sale
$850,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$840,000
+48.7%
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 Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin 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
$850,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
$1,030,000
6.5%
$955,000
7%
$885,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$565,000
Current use
RETAIL STORES
$840,000
Change: +49% · Conversion: Easy
WAREHOUSE, STORAGE
$560,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $850k (May 28 2024)
Last sale anchor
$850k
May 28 2024
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
$142 / 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
$11,194
Tax year 2023
Assessed value
$386,400
Assessed 2023
Previous assessed
$386,400
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$66,100
Assessed improvement
$320,300
Land market value
$66,100
Improvement market value
$320,300
Total market value
$386,400
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1996
Construction
WOOD
Heating
NONE
Stories
1
Total area
5,984 SF
Lot
1.02 ac (44,605 SF)
APN
41-07-18-043-006.000-018
UPID
US31-0822232
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
COMMERCIAL (GENERAL) Current
Est. value
$565,000
RETAIL STORES
Est. value
$840,000
WAREHOUSE, STORAGE
Est. value
$560,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
1.02 ac
Current owner
From public records · entity-resolved
Britt Properties Of Indiana LLC
Entity
Mailing address
189 UMBARGER LN, FRANKLIN, IN 46131
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2026
—
Britt Properties Of Indiana LLC
—
Deed
related
$100,000 · Mutual Savings Bank
May 28, 2024
—
Britt Properties Of Indiana LLC
189 Properties LLC
Special Warranty Deed
$1,454,959 · Mutual Savings Bank
May 28, 2024
$850,000
Britt Properties Of Indiana LLC
189 Properties LLC
Special Warranty Deed
$1,454,959 · Mutual Savings Bank
Mar 3, 2021
—
189 Properties LLC
Trent T Petro
Quit Claim Deed
related
—
Nov 5, 2020
—
1729 South Us 31 LLC
—
Deed
related
$200,000 · Mutual Savings Bank
Nov 4, 2020
—
1729 S Us 31 LLC
—
Deed
related
$400,000 · Mutual Savings Bank
Jan 6, 2020
—
1729 S Us 31 LLC
Chondrite Reo LLC 1
Warranty Deed
—
May 24, 2018
—
Ubs Real Estate Solutions LLC
Parkshore Realty INC
Quit Claim Deed
related
—
Jul 14, 2016
—
Ubs Real Estate Solutions LLC
Economic Insight LLC
Warranty Deed
—
Sep 2, 2015
$797,600
Economic Insight LLC
Kid Company Of Franklin INC
Sheriffs Deed
related
—
Jun 5, 2008
—
Kid Company Of Franklin INC
Regent Holding Company LLC
Warranty Deed
$550,000 · Heartland Community 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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