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Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Warehouses
1901 Hively Ave Elkhart, IN 46517-4028
Entity Owned
14-yr Hold
Free & Clear
Property ID
US31-1224213
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1967
Construction
TYPE NOT SPECIFIED
Total area
83,313 SF
Lot
4.6 ac (200,332 SF)
Zoning code
ZO01
APN
20-06-18-301-006.000-011
UPID
US31-1224213
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
-
Custom Wood Products, Inc. Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$885k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.12M
Owner & transaction history
Shah Family LLC · 14 yrs held
Shah Family LLC
since 2011
1 recorded transaction
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
by Request
ML approach
$885,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±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
$13 / 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
$35,685
Tax year 2023
Assessed value
$1,162,500
Assessed 2023
Previous assessed
$1,162,500
+0.0% YoY
Effective rate
3.07%
On assessed value
Assessed land
$161,000
Assessed improvement
$1,001,500
Land market value
$161,000
Improvement market value
$1,001,500
Total market value
$1,162,500
Applied tax rate
11.0000
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
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1967
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
3
Stories
1
Total area
83,313 SF
Lot
4.6 ac (200,332 SF)
Zoning code
ZO01
APN
20-06-18-301-006.000-011
UPID
US31-1224213
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
Building & site characteristics
From public records
Year built
1967
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Buildings
3
Lot
4.6 ac
Current owner
From public records · entity-resolved
Shah Family LLC
Entity
Free & Clear · 14 yrs held
Mailing address
801 W MAIN ST, NORTH MANCHESTER, IN 46962-1452
Ownership since
2011
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 27, 2011
—
Shah Family LLC
Mcc Corp
Quit Claim 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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