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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Warehouses
230 Progress E Dr Kendallville, IN 46755-3267
Entity Owned
Absentee Owner
Free & Clear
Property ID
US31-1270524
Property summary
AI-generated overview
This single-tenant industrial warehouse, located at 230 S. Progress Dr. E. in Kendallville, Indiana, offers 59,000 square feet of versatile space ideal for distribution or warehousing needs. Built in 1978, the property sits on 5 acres of land and features a single story building with a desirable 20'-23' ceiling height. The warehouse boasts five loading docks, one drive-in door, and ample parking with 100 spaces available. Power is provided by a robust 1,600 Amp, 480/277, 3-phase system. The property is zoned IR/Industry Reserved, ensuring its suitability for a range of industrial uses. The building is exceptionally clean and has been maintained to a high standard. The property's location in Noble County offers potential access to economic incentives. Annual property taxes are $0.50 per square foot. The current lease rate is $3.90 per square foot, NNN. The property's APN is 57-07-35-300-004-000-020. Trailer parking is available on-site. This food-grade warehouse presents a compelling opportunity for businesses seeking efficient and well-maintained industrial space in a strategic location.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1978
Construction
TYPE NOT SPECIFIED
Total area
59,066 SF
Lot
5.04 ac (219,542 SF)
APN
57-07-35-300-004.000-020
UPID
US31-1270524
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
$1.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.81M
Blend (final)
Blend
$1.41M
Owner & transaction history
BELLE TOWER HOLDINGS LLC
BELLE TOWER HOLDINGS LLC
Zoning & alternative use
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 Kendallville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kendallville 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
$1,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,745,000
Current use
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±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
$24 / 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
$30,451
Tax year 2023
Assessed value
$1,194,400
Assessed 2023
Previous assessed
$1,194,400
+0.0% YoY
Effective rate
2.55%
On assessed value
Assessed land
$175,000
Assessed improvement
$1,019,400
Land market value
$175,000
Improvement market value
$1,019,400
Total market value
$1,194,400
Applied tax rate
8.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
59,066 SF
Lot
5.04 ac (219,542 SF)
APN
57-07-35-300-004.000-020
UPID
US31-1270524
Jurisdiction
NOBLE
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
WAREHOUSE, STORAGE Current
Est. value
$1.7M
WAREHOUSE, STORAGE Current
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
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
5.04 ac
Current owner
From public records · entity-resolved
BELLE TOWER HOLDINGS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
15260 VENTURA BLVD STE #1120, SHERMAN OAKS, CA 91403-5346
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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