2215 Madison Ave Anderson, IN 46011-9583
Entity Owned
19-yr Hold
Free & Clear
Estimated value (blended)
$880k
Range $792k – $968k (±10%)
Property ID
US31-0636425
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1970
Construction
TYPE NOT SPECIFIED
Total area
49,350 SF
Lot
5.31 ac (231,304 SF)
APN
48-08-35-400-027.000-040
UPID
US31-0636425
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Big Box & Wholesale Store Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.81M
Comparable Approach
Comparable
$3.51M
Blend (final)
Blend
$880k
Owner & transaction history
since 2007
1 recorded transaction
Zoning & alternative use
Top alternative use upside
Retail stores
$5.4M
+119.6%
Restaurant
$4.7M
+92.8%
Auto repair, garage
$4.3M
+73.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
6 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$880k
Value range
$792k – $968k
±10% around blend
Estimated value / SF
$18 / SF
Confidence
Low
3 county-verified comps
Property data
88
Comparable evidence
30
$792k
blend $880k
$968k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
49,350 SF
Lot area
5.31 ac
Year built
1970
Stories
2
APN
48-08-35-400-027.000-040
Assessed value
$1,442,700
Annual tax
$43,281
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.81M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$4.13M
@ 6.5% CAP return
$3.81M
@ 7% CAP return
$3.54M
4
Sales comparison
Partial preview
Sales approach indication
$7.77M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
22.5 mi away · 35,406 SF
24.7 mi away · 40,928 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$880k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+120%
vs current-use indication
Restaurant
Auto Repair, Garage
Commercial (general)
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.44M
Move the market yield to see immediate price impact.
Value / SF
$29
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$91k
$1.82M
$1.30M
$1.01M
$101k
$2.02M
$1.44M
$1.12M
$111k
$2.22M
$1.59M
$1.23M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$10.64M
19.9 mi · Apr 2026 · $254/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$43,281
Tax year 2023
Assessed value
$1,442,700
Assessed 2023
Previous assessed
$1,442,700
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$232,800
Assessed improvement
$1,209,900
Land market value
$232,800
Improvement market value
$1,209,900
Total market value
$1,442,700
Applied tax rate
39.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1970
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
2
Total area
49,350 SF
Lot
5.31 ac (231,304 SF)
APN
48-08-35-400-027.000-040
UPID
US31-0636425
Jurisdiction
MADISON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1970
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
2
Lot
5.31 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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