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Property profile & analytics
OFF-MARKET
Estimated value
$905,000
Manufacturing properties
21537 Protecta Dr Elkhart, IN 46516-9542
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-0790425
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1986
Construction
WOOD
Total area
20,000 SF
Lot
2.15 ac (93,698 SF)
Zoning code
M-1
APN
20-03-31-451-004.000-030
UPID
US31-0790425
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
-
Select Tool & Engineering Industrial Manufacturer
-
Noddinghills.com Bakery Specialty Food Shop
-
Property Pros, LLC Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$870k
Blend (final)
Blend
$905k
Owner & transaction history
Cart Real Estate LLC · 2 yrs held
Cart Real Estate LLC
since 2023
4 recorded transactions
Zoning & alternative use
M-1 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
t 151.063 B-3, Service Business District 151.064 B-4, Regional Business District 151.065 CBD, Central Business District 151.066 OP, Office Park District 151.067 BP, Business Park District Manufacturing Districts 151.080 M-1, Limited Manufacturing District 151.081 M-2, General Manufacturing District Planned Unit Development 151.095 Purpose 151.096 Permitted u…
Zone name
Limited Manufacturing District
General category
INDUSTRIAL
Zone area
3,502.08 ac
Source
CHAPTER 151: ZONING CODE
Top alternative use upside
Commercial (general)
$980,000
+38.6%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$705,000
Current use
COMMERCIAL (GENERAL)
$980,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$905k
Range $815k – $996k · ±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
$45 / 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
$11,793
Tax year 2023
Assessed value
$827,800
Assessed 2023
Previous assessed
$827,800
+0.0% YoY
Effective rate
1.42%
On assessed value
Assessed land
$75,300
Assessed improvement
$752,500
Land market value
$75,300
Improvement market value
$752,500
Total market value
$827,800
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
YES
Stories
1
Total area
20,000 SF
Lot
2.15 ac (93,698 SF)
Zoning code
M-1
APN
20-03-31-451-004.000-030
UPID
US31-0790425
Jurisdiction
ELKHART
Zoning & alternative use
M-1 · Elkhart, INZoning M-1 · permitted uses
M-1 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
t 151.063 B-3, Service Business District 151.064 B-4, Regional Business District 151.065 CBD, Central Business District 151.066 OP, Office Park District 151.067 BP, Business Park District Manufacturing Districts 151.080 M-1, Limited Manufacturing District 151.081 M-2, General Manufacturing District Planned Unit Development 151.095 Purpose 151.096 Permitted uses 151.097 Requirements 151.098 Submittal requirements 151.099 Plan Commission act
Zone name
Limited Manufacturing District
General category
INDUSTRIAL
Zone area
3,502.08 ac
Source
CHAPTER 151: ZONING CODE
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$705,000
COMMERCIAL (GENERAL)
Est. value
$980,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (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
1986
Construction
WOOD
Heating
YES
Stories
1
Lot
2.15 ac
Current owner
From public records · entity-resolved
Cart Real Estate LLC
Entity
Mailing address
301 BENCHMARK DR, ELKHART, IN 46516-0001
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2023
—
Cart Real Estate LLC
Esch Real Estate LLC
Warranty Deed
—
Jul 15, 2019
—
Esch Real Estate LLC
—
Deed
related
$230,000 · Interra Cu
—
—
Esch Real Estate LLC
—
Deed Of Trust
related
$230,000 · Interra Cu
—
—
Esch Real Estate LLC
—
Deed Of Trust
related
$230,000 · Interra Cu
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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