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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Office Spaces
2317 Franklin St Michigan City, IN 46360-4540
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1680300
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1947
Construction
TYPE NOT SPECIFIED
Total area
8,108 SF
Lot
0.14 ac (5,883 SF)
APN
46-01-32-293-009.000-022
UPID
US31-1680300
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
-
Midwest Eye Consultants Physician
-
Midwest Eye Consultants: Antos Kylo J OD Physician
-
Jennifer L. Eberlin-Nagel, OD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$845k
Comparable Approach
Comparable
$501k
Blend (final)
Blend
$645k
Owner & transaction history
Mdc Coastal 1 LLC · 4 yrs held
Mdc Coastal 1 LLC
since 2021
3 recorded transactions
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 Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City 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%
$915,000
6.5%
$845,000
7%
$785,000
Blend value · Realmo final
$645k
Range $581k – $710k · ±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
$80 / 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
$13,887
Tax year 2023
Assessed value
$461,700
Assessed 2023
Previous assessed
$461,700
+0.0% YoY
Effective rate
3.01%
On assessed value
Assessed land
$31,100
Assessed improvement
$430,600
Land market value
$31,100
Improvement market value
$430,600
Total market value
$461,700
Applied tax rate
42.0000
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
1947
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
8,108 SF
Lot
0.14 ac (5,883 SF)
APN
46-01-32-293-009.000-022
UPID
US31-1680300
Jurisdiction
LA PORTE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1947
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
Mdc Coastal 1 LLC
Entity
Mailing address
835 N CASS ST, WABASH, IN 46992-1613
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Sep 29, 2021
—
Mdc Coastal 1 LLC
Franklin Vision Properties LLC
Special Warranty Deed
—
May 18, 2010
—
Franklin Vision Properties LLC
Vision Properties LLP
Quit Claim Deed
related
—
Nov 24, 2008
—
Vision Properties LLP
Deer Sklut Properties LLC
Warranty Deed
$157,250 · First Merchant Bank National Associ
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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