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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Medical Office Space
2305 Grn Vly Rd New Albany, IN 47150-4691
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-1664068
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
WOOD
Total area
14,234 SF
Lot
1.45 ac (63,075 SF)
APN
22-05-02-700-407.000-008
UPID
US31-1664068
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
-
Dr. Justin McMonigle, MD FAAP Pediatrician Medical Clinic
-
All IN Pediatrics Pediatrician Medical Clinic
-
Howe Melissa G Physician
-
Dr. Kathleen E. Shiner, MD Pediatrician Medical Clinic
-
Nassim Mcmonigle/mescia Association Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$370k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$741k
Blend (final)
Blend
$555k
Owner & transaction history
Mcmonigle Mescia Realty LLC · 4 yrs held
Mcmonigle Mescia Realty LLC
since 2022
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$830,000
+50.5%
Apartment house (5+ units)
$750,000
+35.8%
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 New Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Albany 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
$370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$555,000
Current use
COMMERCIAL (GENERAL)
$830,000
Change: +50% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$750,000
Change: +36% · Conversion: Moderate
WAREHOUSE, STORAGE
$495,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$39 / 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
$42,385
Tax year 2023
Assessed value
$1,462,400
Assessed 2023
Previous assessed
$1,462,400
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$687,800
Assessed improvement
$774,600
Land market value
$687,800
Improvement market value
$774,600
Total market value
$1,462,400
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Construction
WOOD
Heating
NONE
Stories
1
Total area
14,234 SF
Lot
1.45 ac (63,075 SF)
APN
22-05-02-700-407.000-008
UPID
US31-1664068
Jurisdiction
FLOYD
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
MEDICAL BUILDING Current
Est. value
$555,000
COMMERCIAL (GENERAL)
Est. value
$830,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$750,000
WAREHOUSE, STORAGE
Est. value
$495,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
2005
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.45 ac
Current owner
From public records · entity-resolved
Mcmonigle Mescia Realty LLC
Entity
Mailing address
2305 GRN VLY RD, NEW ALBANY, IN 47150-4691
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2022
—
Mcmonigle Mescia Realty LLC
—
Deed
related
$3,669,300 · First Harrison Bank
Mar 31, 2022
—
Mcmonigle Mescia Realty LLC
—
Deed
related
$3,669,300 · First Harrison Bank
Feb 20, 2020
—
Nassim Properties LLC
—
Deed
related
$1,351,090 · First Harrison 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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