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Property profile & analytics
OFF-MARKET
Estimated value
$2,985,000
Warehouses
1900 Lusher Ave Elkhart, IN 46517-1310
Entity Owned
5-yr Hold
Free & Clear
Property ID
US31-0130631
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1977
Construction
WOOD
Total area
155,790 SF
Lot
7.99 ac (348,132 SF)
Zoning code
ZO01
APN
20-06-07-376-001.000-012
UPID
US31-0130631
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
-
Future Foam, Inc. Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.04M
Blend (final)
Blend
$2.99M
Owner & transaction history
Future Foam INC · 5 yrs held
Future Foam INC
since 2020
Last sale
$2.7M
2 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, IN
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 Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart 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
$3,125,000
ML approach
$3,360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,120,000
Current use
Blend value · Realmo final
$2.99M
Range $2.69M – $3.28M · ±10% · vs last sale $2.70M (Sep 8 2020)
Last sale anchor
$2.70M
Sep 8 2020
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
$19 / 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
$84,696
Tax year 2023
Assessed value
$3,145,000
Assessed 2023
Previous assessed
$3,145,000
+0.0% YoY
Effective rate
2.69%
On assessed value
Assessed land
$244,000
Assessed improvement
$2,901,000
Land market value
$244,000
Improvement market value
$2,901,000
Total market value
$3,145,000
Applied tax rate
12.0000
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
1977
Construction
WOOD
Heating
YES
Stories
1
Total area
155,790 SF
Lot
7.99 ac (348,132 SF)
Zoning code
ZO01
APN
20-06-07-376-001.000-012
UPID
US31-0130631
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, INZoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
CHAPTER 151: ZONING CODE
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.1M
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
1977
Construction
WOOD
Heating
YES
Stories
1
Lot
7.99 ac
Current owner
From public records · entity-resolved
Future Foam INC
Entity
Free & Clear · 5 yrs held
Mailing address
1610 AVE AVE N, COUNCIL BLUFFS, IA 51501-1071
Ownership since
2020
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
Sep 8, 2020
$2,700,000
Future Foam INC
Ohio Decorative Products LLC
Warranty Deed
—
Mar 6, 2014
—
Ohio Decorative Products INC
Moeller Land & Cattle Co INC
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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