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Property profile & analytics
OFF-MARKET
Estimated value
$6,210,000
Industrial properties
2351 Production Ct Richmond, IN 47374-8408
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-2378314
Property profile
Verified
Property type
Industrial properties
Use group
HEAVY INDUSTRIAL
Year built
2007
Construction
TYPE NOT SPECIFIED
Total area
121,880 SF
Lot
15.93 ac (693,867 SF)
Zoning code
ZO01
APN
89-10-02-000-308.000-030
UPID
US31-2378314
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
-
CIT Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.94M
Blend (final)
Blend
$6.21M
Owner & transaction history
Cit Realty LLC · 3 yrs held
Cit Realty LLC
since 2023
1 recorded transaction
Zoning & alternative use
ZO01 · Richmond, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.6M
+109.3%
Retail stores
$7.9M
+72.7%
Medical building
$7.7M
+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 Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,565,000
Current use
RESTAURANT
$9,560,000
Change: +109% · Conversion: Difficult
RETAIL STORES
$7,890,000
Change: +73% · Conversion: Moderate
MEDICAL BUILDING
$7,665,000
Change: +68% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,780,000
Change: +48% · Conversion: Difficult
Blend value · Realmo final
$6.21M
Range $5.59M – $6.83M · ±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
$51 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$97,539
Tax year 2022
Assessed value
$3,072,900
Assessed 2023
Previous assessed
$3,072,900
+0.0% YoY
Effective rate
3.17%
On assessed value
Assessed land
$157,300
Assessed improvement
$2,915,600
Land market value
$157,300
Improvement market value
$2,915,600
Total market value
$3,072,900
Applied tax rate
29.0000
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
Industrial properties
Use group
HEAVY INDUSTRIAL
Status
Off-Market
Year built
2007
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
121,880 SF
Lot
15.93 ac (693,867 SF)
Zoning code
ZO01
APN
89-10-02-000-308.000-030
UPID
US31-2378314
Jurisdiction
WAYNE
Zoning & alternative use
ZO01 · Richmond, IN
Zoning ZO01 · permitted uses
ZO01 · Richmond, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.6M
RESTAURANT
Est. value
$9.6M
RETAIL STORES
Est. value
$7.9M
MEDICAL BUILDING
Est. value
$7.7M
COMMERCIAL (GENERAL)
Est. value
$6.8M
INDUSTRIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2007
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
15.93 ac
Current owner
From public records · entity-resolved
Cit Realty LLC
Entity
Mailing address
2351 PRODUCTION CT, RICHMOND, IN 47374-8408
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Jan 4, 2023
—
Cit Realty LLC
—
Deed
related
$2,872,500 · First Merchants 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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