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Property profile & analytics
OFF-MARKET
Estimated value
$3,775,000
Office Spaces
2200 Elmwood Ave Lafayette, IN 47904-2358
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-3540989
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1940
Construction
TYPE NOT SPECIFIED
Total area
30,056 SF
Lot
22.49 ac (979,882 SF)
APN
79-07-21-226-004.000-004
UPID
US31-3540989
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
-
Camera Outfitters LLC Electronics & Wireless Store
-
Troy's BBQ Sauces Big Box & Wholesale Store
-
National Auto Insurance Insurance Agency
-
King David's Tattoo Tattoo & Piercing Shop
-
Rocco’s Market Square Barber Shop Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.53M
Comparable Approach
Comparable
$4.12M
Blend (final)
Blend
$3.78M
Owner & transaction history
Food Finders Food Bank INC · 2 yrs held
Food Finders Food Bank INC
since 2024
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.4M
+92.0%
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 Lafayette submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lafayette 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%
$3,825,000
6.5%
$3,530,000
7%
$3,275,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,280,000
Current use
RETAIL STORES
$4,380,000
Change: +92% · Conversion: Easy
Blend value · Realmo final
$3.78M
Range $3.40M – $4.15M · ±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
$126 / 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
$108,884
Tax year 2023
Assessed value
$4,584,600
Assessed 2023
Previous assessed
$4,584,600
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed improvement
$4,584,600
Improvement market value
$4,584,600
Total market value
$4,584,600
Applied tax rate
4.0000
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
1940
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
3
Stories
1
Total area
30,056 SF
Lot
22.49 ac (979,882 SF)
APN
79-07-21-226-004.000-004
UPID
US31-3540989
Jurisdiction
TIPPECANOE
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
$2.3M
RETAIL STORES
Est. value
$4.4M
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
1940
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
3
Lot
22.49 ac
Current owner
From public records · entity-resolved
Food Finders Food Bank INC
Entity
Mailing address
1204 GREENBUSH ST, LAFAYETTE, IN 47904-2065
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2024
—
Food Finders Food Bank INC
Hjh Lafayette 1 LLC
Warranty Deed
—
Dec 29, 2017
$7,764,750
Hjh Lafayette 1 LLC
Lafayette Msp LLC
Warranty Deed
—
Aug 1, 2017
—
Northend Properties INC
Faith Community Dev Corp
Warranty Deed
—
May 5, 2017
—
Faith Community Dev Co
Lafayette Msp LLC
Grant Deed
—
Aug 12, 2016
—
Market Square Storage LLC
Lafayette Msp LLC
Quit Claim Deed
related
—
Dec 4, 2014
—
Mdb Real Estate LLC
Lafayette Msp LLC
Warranty Deed
$200,000 · Old National Bank
Sep 30, 2014
—
Kirby Properties II LLC
Lafayette Msp LLC
Warranty Deed
—
Mar 1, 2013
$3,000,000
Lafayette Msp LLC
Sheriff Of Tippecanoe County
Trustees Deed
related
$3,000,000 · Farmers Bank
Mar 11, 2008
—
Midwest Commercial Invs Vi LLC
—
Trustees Deed
related
$1,000,000 · Bank Of Clark County
Oct 10, 2007
—
Midwest Commercial Invs Vi LLC
Market Square Realty LLC
Grant Deed
$11,880,000 · Rbs Citizens Bank NA
—
—
Commercial Invs Vi Midwest
—
Deed Of Trust
related
$1,000,000 · Canterbury Partners LLC
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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