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Property profile & analytics
OFF-MARKET
Parking lots & garages
2350 State Rd 25th W Lafayette, IN 47909-9267
Individually Owned
~
Est. High Equity
Property ID
US31-0908012
Property summary
AI-generated overview
This exceptional commercial property, located at 2350 State Road 25 W in Lafayette, Indiana, presents a unique investment opportunity. Spanning approximately two acres, this lot boasts over 500 feet of frontage on State Road 25, ensuring high visibility and accessibility for any business. The property currently features a Quonset hut building suitable for large truck repair, along with an attached office space. The total lot size is approximately 50,000 square feet, comprised of several combined lots across two parcel numbers. The zoning is designated as RES Lot and Garage, offering flexibility for potential development. A key advantage is the presence of two convenient highway entrances, facilitating easy ingress and egress. While the property's current use is as a truck repair garage, its prime location and significant road frontage make it ideally suited for a variety of retail ventures. The sale includes the Quonset hut and attached office
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1950
Lot
0.87 ac (37,906 SF)
APN
79-10-11-201-008.000-020
UPID
US31-0908012
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
Michael L Hanthorn
Michael L Hanthorn
1 recorded transaction
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 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
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
$855
Tax year 2023
Assessed value
$53,200
Assessed 2023
Previous assessed
$53,200
+0.0% YoY
Effective rate
1.61%
On assessed value
Assessed land
$26,900
Assessed improvement
$26,300
Land market value
$26,900
Improvement market value
$26,300
Total market value
$53,200
Applied tax rate
20.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1950
Heating
NONE
Lot
0.87 ac (37,906 SF)
APN
79-10-11-201-008.000-020
UPID
US31-0908012
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
Building & site characteristics
From public records
Year built
1950
Heating
NONE
Lot
0.87 ac
Current owner
From public records · entity-resolved
Michael L Hanthorn
Individual
Mailing address
2350 STATE RD 25TH W, LAFAYETTE, IN 47909-9267
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Michael L Hanthorn
—
Deed Of Trust
related
$90,000 · Fountain Trust Co
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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