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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Warehouses
2619 Main St Highland, IN 46322-3432
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0895898
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
TYPE NOT SPECIFIED
Total area
11,948 SF
Lot
6.05 ac (263,538 SF)
Zoning code
R3
APN
45-07-33-376-003.000-026
UPID
US31-0895898
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
$1.30M
Comparable Approach
Comparable
$622k
Blend (final)
Blend
$950k
Owner & transaction history
Grimmer Family Limited Partnership · 4 yrs held
Grimmer Family Limited Partnership
since 2022
5 recorded transactions
Zoning & alternative use
R3 · Highland, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district is to establish a district in which multiple family residential and a PUD use may take place, and to identify other compatible allowable uses, as well as use variances which may be allowed under certain circumstances and with limitations as identified hereinafter.
Zone name
Single Two And Multiple Family Residence
General category
RESIDENTIAL
Zone area
62.26 ac
Source
Realmo
Top alternative use upside
Retail stores
$905,000
+1.8%
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 Highland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland 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%
$1,405,000
6.5%
$1,295,000
7%
$1,200,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$890,000
Current use
RETAIL STORES
$905,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±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 2022Property tax & assessments
Tax year 2022
Tax billed
$26,272
Tax year 2022
Assessed value
$1,283,900
Assessed 2023
Previous assessed
$1,281,100
+0.2% YoY
Effective rate
2.05%
On assessed value
Assessed land
$155,800
Assessed improvement
$1,128,100
Land market value
$155,800
Improvement market value
$1,128,100
Total market value
$1,283,900
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
11,948 SF
Lot
6.05 ac (263,538 SF)
Zoning code
R3
APN
45-07-33-376-003.000-026
UPID
US31-0895898
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R3 · Highland, INZoning R3 · permitted uses
R3 · Highland, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district is to establish a district in which multiple family residential and a PUD use may take place, and to identify other compatible allowable uses, as well as use variances which may be allowed under certain circumstances and with limitations as identified hereinafter.
Zone name
Single Two And Multiple Family Residence
General category
RESIDENTIAL
Zone area
62.26 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$890,000
RETAIL STORES
Est. value
$905,000
WAREHOUSE, STORAGE Current
RETAIL STORES
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
2000
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
6.05 ac
Current owner
From public records · entity-resolved
Grimmer Family Limited Partnership
Entity
Mailing address
2619 MAIN ST, HIGHLAND, IN 46322-3432
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2022
—
Grimmer Family Limited Partnership
—
Deed
related
$2,175,000 · Centier Bank
Dec 7, 2016
—
Grimmer Family LP
—
Deed
related
$2,000,000 · Centier Bk
Nov 3, 2006
—
Grimmer Family
—
Grant Deed
related
$2,000,000 · Centier Bk
—
—
Grimmer Family LP
—
Loan Modification
related
$2,000,000 · Centier Bk
—
—
Grimmer Family LP
—
Loan Modification
related
$699,312 · Centier Bk
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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