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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Theaters & concert halls
1900 Main St Richmond, IN 47374-3824
Individually Owned
6-yr Hold
Free & Clear
Property ID
US31-1631044
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1974
Construction
TYPE NOT SPECIFIED
Total area
13,360 SF
Lot
0.74 ac (32,409 SF)
APN
89-15-36-440-509.001-030
UPID
US31-1631044
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
-
Gregory G. Reising, OD Physician
-
Drs. Reising & Burkhart Eye Care Center Optometrist
-
Drs. Reising, Burkhart, and Schroeder Physician
-
E. Burkhart Physician
-
Adam Schroeder Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$650k
Owner & transaction history
Boys&girls Club Of Wayne · 6 yrs held
Boys&girls Club Of Wayne
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+96.4%
Retail stores
$865,000
+62.0%
Medical building
$840,000
+57.5%
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 Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$535,000
Current use
RESTAURANT
$1,050,000
Change: +96% · Conversion: Difficult
RETAIL STORES
$865,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$840,000
Change: +57% · Conversion: Difficult
COMMERCIAL (GENERAL)
$745,000
Change: +39% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$500,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±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
$49 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$812,900
Assessed 2023
Previous assessed
$812,900
+0.0% YoY
Assessed land
$49,900
Assessed improvement
$763,000
Land market value
$49,900
Improvement market value
$763,000
Total market value
$812,900
Applied tax rate
29.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1974
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
13,360 SF
Lot
0.74 ac (32,409 SF)
APN
89-15-36-440-509.001-030
UPID
US31-1631044
Jurisdiction
WAYNE
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
THEATER (MOVIE) Current
Est. value
$535,000
RESTAURANT
Est. value
$1.1M
RETAIL STORES
Est. value
$865,000
MEDICAL BUILDING
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$745,000
INDUSTRIAL (GENERAL)
Est. value
$500,000
THEATER (MOVIE) Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1974
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.74 ac
Current owner
From public records · entity-resolved
Boys&girls Club Of Wayne
Individual
Free & Clear · 6 yrs held
Mailing address
1717 S L ST, RICHMOND, IN 47374-7400
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2019
—
Boys&girls Club Of Wayne
Boys&girls Club Of Wayne
Warranty Deed
related
—
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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