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Property profile & analytics
OFF-MARKET
Estimated value
$3,425,000
Office Spaces
1950 Washington St New Castle, IN 47362-4358
Individually Owned
4-yr Hold
Free & Clear
Property ID
US31-2438116
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1965
Construction
WOOD
Total area
51,105 SF
Lot
14.25 ac (620,730 SF)
APN
33-12-11-100-122.001-016
UPID
US31-2438116
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.43M
Blend (final)
Blend
$3.43M
Owner & transaction history
State Of Indiana · 4 yrs held
State Of Indiana
since 2021
Last sale
$1,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.8M
+39.7%
Apartment house (5+ units)
$4.7M
+37.2%
Auto repair, garage
$4.3M
+25.0%
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 New Castle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Castle 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
COMMERCIAL (GENERAL)
$3,425,000
Current use
RESTAURANT
$4,785,000
Change: +40% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,700,000
Change: +37% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,285,000
Change: +25% · Conversion: Difficult
MEDICAL BUILDING
$3,895,000
Change: +14% · Conversion: Easy
RETAIL STORES
$3,590,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$3.43M
Range $3.08M – $3.77M · ±10% · vs last sale $1k (Aug 19 2021)
Last sale anchor
$1k
Aug 19 2021
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
$67 / 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
Applied tax rate
30.0000
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
1965
Construction
WOOD
Heating
NONE
Stories
1
Total area
51,105 SF
Lot
14.25 ac (620,730 SF)
APN
33-12-11-100-122.001-016
UPID
US31-2438116
Jurisdiction
HENRY
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
$3.4M
RESTAURANT
Est. value
$4.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$3.6M
COMMERCIAL (GENERAL) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1965
Construction
WOOD
Heating
NONE
Stories
1
Lot
14.25 ac
Current owner
From public records · entity-resolved
State Of Indiana
Individual
Free & Clear · 4 yrs held
Mailing address
322 ELLIOTT AVE, NEW CASTLE, IN 47362-4899
Ownership since
2021
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
Aug 19, 2021
$1,000
State Of Indiana
New Castle Community School Corpora
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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