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Property profile & analytics
OFF-MARKET
Office Spaces
222 Middlebury St Elkhart, IN 46516-3734
Entity Owned
Free & Clear
Property ID
US31-3326425
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1900
Construction
WOOD
Total area
17,280 SF
Lot
0.96 ac (41,818 SF)
Zoning code
ZO01
APN
20-06-05-484-018.000-012
UPID
US31-3326425
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mount North Capital 5 LLC
Mount North Capital 5 LLC
since 2025
7 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,462
Tax year 2023
Assessed value
$105,500
Assessed 2023
Previous assessed
$105,500
+0.0% YoY
Effective rate
3.28%
On assessed value
Assessed land
$69,200
Assessed improvement
$36,300
Land market value
$69,200
Improvement market value
$36,300
Total market value
$105,500
Applied tax rate
12.0000
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
1900
Construction
WOOD
Heating
YES
Cooling
YES
Stories
3
Total area
17,280 SF
Lot
0.96 ac (41,818 SF)
Zoning code
ZO01
APN
20-06-05-484-018.000-012
UPID
US31-3326425
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, IN
Zoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkhart. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Lot
0.96 ac
Current owner
From public records · entity-resolved
Mount North Capital 5 LLC
Entity
Free & Clear · 0 yrs held
Mailing address
694 W LEXINGTON AVE, ELKHART, IN 46514-2571
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2026
—
Mount North Capital 5 LLC
—
Deed
related
$6,000,000 · Sip Tax Deed Fund 1 LLC
Oct 22, 2025
—
Mount North Capital 5 LLC
Troy W Nichols
Warranty Deed
—
Aug 22, 2025
—
Troy W Nichols
Maple City Rentals LLC
Quitclaim Deed
related
—
Oct 1, 2019
—
Maple City Rentals LLC
Troy W Nichols
Quit Claim Deed
related
—
Jul 26, 2019
$3,165
Troy W Nichols
Instituto Universitario De Cie
Grant Deed
—
Sep 26, 2014
—
Instituto Universitario De Cie
Princeton Coml Ne Holdings Ll
Grant Deed
—
Mar 11, 2014
—
Princeton Coml Ne Holdings Ll
Ecb Real Estate Holdings LLC
Grant Deed
—
Dec 22, 2010
—
Ecb Real Estate Holdings LLC
Indiana Cmnty Bk
Quit Claim Deed
related
—
Mar 13, 2008
—
Elkhart Community Bank
Elkhart Neighborhoods INC
Deed In Lieu Of Foreclosure
—
Aug 25, 2006
—
Elkhart Housing Ptshp INC
United Way Of Elkhart Cnty INC
Quit Claim Deed
related
$142,000 · Elkhart Community Bank
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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