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Property profile & analytics
FOR LEASE
Office Spaces
2176 Biomet Dr Warsaw, IN 46582
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-1608619
For Lease
$18 SF/Yr
2176 Biomet Dr, Warsaw, IN 46582
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1985
Construction
WOOD
Total area
6,432 SF
Lot
2.09 ac (91,040 SF)
Zoning code
COMME
APN
43-07-33-300-395.000-017
UPID
US31-1608619
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
-
Vector Marketing Warsaw Advertising Agency Marketing & Advertising
-
Music Encounters Vocational School Training Center
-
The Studio Records Recording Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$620k
Comparable Approach
Comparable
$592k
Blend (final)
Blend
$585k
Owner & transaction history
Norma L Ferguson · 2 yrs held
Norma L Ferguson
since 2023
1 recorded transaction
Zoning & alternative use
COMME · Warsaw, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$405,000
+0.9%
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 Warsaw submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Warsaw 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%
$675,000
6.5%
$620,000
7%
$575,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$405,000
Current use
RETAIL STORES
$405,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$91 / 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
$14,809
Tax year 2023
Assessed value
$594,800
Assessed 2023
Previous assessed
$594,800
+0.0% YoY
Effective rate
2.49%
On assessed value
Assessed land
$126,300
Assessed improvement
$468,500
Land market value
$126,300
Improvement market value
$468,500
Total market value
$594,800
Applied tax rate
17.0000
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
For Lease
Year built
1985
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Total area
6,432 SF
Lot
2.09 ac (91,040 SF)
Zoning code
COMME
APN
43-07-33-300-395.000-017
UPID
US31-1608619
Jurisdiction
KOSCIUSKO
Zoning & alternative use
COMME · Warsaw, IN
Zoning COMME · permitted uses
COMME · Warsaw, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Warsaw. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$405,000
RETAIL STORES
Est. value
$405,000
COMMERCIAL (GENERAL) Current
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
1985
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Lot
2.09 ac
Current owner
From public records · entity-resolved
Norma L Ferguson
Individual
Free & Clear · 2 yrs held
Mailing address
SEMS 35TH LN, LEISURE, IN 46036
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2023
—
Norma L Ferguson
Norma L Ferguson
Intrafamily Transfer
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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