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Property profile & analytics
OFF-MARKET
Estimated value
$2,990,000
Medical Office Space
2320 Concord Rd Lafayette, IN 47909-2710
Entity Owned
3-yr Hold
Free & Clear
Property ID
US31-0866578
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1990
Construction
WOOD
Total area
17,987 SF
Lot
1.07 ac (46,479 SF)
APN
79-07-34-326-016.000-005
UPID
US31-0866578
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
-
Lafayette ENT: Berner Daniel R MD (retired) Physician
-
Lafayette ENT - Dr. Peter J. Hillsamer, MD Physician
-
Lafayette ENT (Lafayette Otolaryngology Associates) Medical Clinic Physician
-
Dr. Aaron J. Duberstein, MD Physician
-
Kelly J. Todd, AUD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.83M
CAP Approach
CAP
$3.30M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.99M
Owner & transaction history
Franciscan Alliance INC · 3 yrs held
Franciscan Alliance INC
since 2022
Last sale
$3.0M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+67.8%
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 Lafayette submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lafayette 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
$2,830,000
ML approach
$2,825,000
CAP Approach
CAP Return
Estimation
6%
$3,575,000
6.5%
$3,300,000
7%
$3,065,000
Alternative Use
Use
Estimation
RESTAURANT
$1,845,000
Change: +68% · Conversion: Difficult
Blend value · Realmo final
$2.99M
Range $2.69M – $3.29M · ±10% · vs last sale $3.00M (Dec 5 2022)
Last sale anchor
$3.00M
Dec 5 2022
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
$166 / 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
$29,908
Tax year 2023
Assessed value
$1,214,800
Assessed 2023
Previous assessed
$1,214,800
+0.0% YoY
Effective rate
2.46%
On assessed value
Assessed improvement
$1,214,800
Improvement market value
$1,214,800
Total market value
$1,214,800
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1990
Construction
WOOD
Heating
NONE
Stories
1
Total area
17,987 SF
Lot
1.07 ac (46,479 SF)
APN
79-07-34-326-016.000-005
UPID
US31-0866578
Jurisdiction
TIPPECANOE
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
RESTAURANT
Est. value
$1.8M
RESTAURANT
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
1990
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.07 ac
Current owner
From public records · entity-resolved
Franciscan Alliance INC
Entity
Free & Clear · 3 yrs held
Mailing address
1515 W DRAGOON TRL, MISHAWAKA, IN 46544-4710
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2022
$3,000,000
Franciscan Alliance INC
Sagamore Medical Office Building Ll
Special Warranty Deed
—
May 1, 2015
—
Sagamore Medical Office
Hillsamer Peter J
Warranty Deed
—
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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