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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Warehouses
2500 J St Elwood, IN 46036-2647
Individually Owned
1-yr Hold
Free & Clear
Property ID
US31-1284188
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1948
Construction
TYPE NOT SPECIFIED
Total area
9,729 SF
Lot
10.85 ac (472,757 SF)
APN
48-04-15-401-001.000-027
UPID
US31-1284188
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
$750k
Comparable Approach
Comparable
$805k
Blend (final)
Blend
$780k
Owner & transaction history
Jacob D Nutt · 1 yrs held
Jacob D Nutt
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$930,000
+81.1%
Retail stores
$920,000
+79.9%
Auto repair, garage
$820,000
+59.7%
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 Elwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elwood 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%
$815,000
6.5%
$750,000
7%
$695,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$510,000
Current use
RESTAURANT
$930,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$920,000
Change: +80% · Conversion: Moderate
AUTO REPAIR, GARAGE
$820,000
Change: +60% · Conversion: Easy
COMMERCIAL (GENERAL)
$765,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$690,000
Change: +35% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$540,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$780k
Range $702k – $858k · ±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
$3,918
Tax year 2023
Assessed value
$830,900
Assessed 2023
Previous assessed
$830,900
+0.0% YoY
Effective rate
0.47%
On assessed value
Assessed land
$81,400
Assessed improvement
$749,500
Land market value
$81,400
Improvement market value
$749,500
Total market value
$830,900
Applied tax rate
26.0000
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1948
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
9,729 SF
Lot
10.85 ac (472,757 SF)
APN
48-04-15-401-001.000-027
UPID
US31-1284188
Jurisdiction
MADISON
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
WAREHOUSE, STORAGE Current
Est. value
$510,000
RESTAURANT
Est. value
$930,000
RETAIL STORES
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$820,000
COMMERCIAL (GENERAL)
Est. value
$765,000
MEDICAL BUILDING
Est. value
$690,000
INDUSTRIAL (GENERAL)
Est. value
$540,000
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (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
1948
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
10.85 ac
Current owner
From public records · entity-resolved
Jacob D Nutt
Individual
Free & Clear · 1 yrs held
Mailing address
2500 S J ST, ELWOOD, IN 46036-2647
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2025
—
Jacob D Nutt
David A Nutt
Deed
related
—
Oct 11, 2023
—
Davis A Nutt
Elwood Community Development Corp
Warranty Deed
—
Sep 20, 2023
—
City Of Elwood
Mart Holdings LLC-s Series #2
Warranty Deed
—
Sep 13, 2023
—
Elwood Community Development Corp
Mart Holdings LLC-s Series #2
Warranty Deed
—
Nov 22, 2022
—
Concrete Specialties INC
Town Of Markleville
Quit Claim Deed
related
$1,200,000 · Peoples State Bank
Aug 29, 2022
—
Mart Holdings LLC-s
Mart Holdings LLC-s
Intrafamily Transfer
related
—
May 13, 2021
$50,000
Mart Holdings LLC
Mosey Manufacturing Co INC
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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