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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Retail space
2845 State Rd 66 Rockport, IN 47635-9260
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-2397132
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1993
Construction
WOOD
Total area
10,212 SF
Lot
8.29 ac (361,112 SF)
APN
74-15-20-200-006.000-017
UPID
US31-2397132
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
$710k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$960k
Blend (final)
Blend
$750k
Owner & transaction history
Synonym LLC · 2 yrs held
Synonym LLC
since 2023
Last sale
$750,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$825,000
+14.7%
Commercial (general)
$815,000
+13.3%
Restaurant
$725,000
+1.2%
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 Rockport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockport 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
$800,000
ML approach
$710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$720,000
Current use
AUTO REPAIR, GARAGE
$825,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$815,000
Change: +13% · Conversion: Easy
RESTAURANT
$725,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $750k (Nov 15 2023)
Last sale anchor
$750k
Nov 15 2023
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
$73 / 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
$5,637
Tax year 2023
Assessed value
$452,800
Assessed 2023
Previous assessed
$452,800
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$186,300
Assessed improvement
$266,500
Land market value
$186,300
Improvement market value
$266,500
Total market value
$452,800
Applied tax rate
17.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1993
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
10,212 SF
Lot
8.29 ac (361,112 SF)
APN
74-15-20-200-006.000-017
UPID
US31-2397132
Jurisdiction
SPENCER
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
RETAIL STORES Current
Est. value
$720,000
AUTO REPAIR, GARAGE
Est. value
$825,000
COMMERCIAL (GENERAL)
Est. value
$815,000
RESTAURANT
Est. value
$725,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1993
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
8.29 ac
Current owner
From public records · entity-resolved
Synonym LLC
Entity
Mailing address
PO BOX 523, NEWBURGH, IN 47629-0523
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2025
—
Synonym LLC
—
Deed
related
$3,000,000 · Banterra Bank
Nov 15, 2023
—
Synonym LLC
Nathan Rudolph
Warranty Deed
$750,000 · Banterra Bank
Nov 15, 2023
$750,000
Synonym LLC
Nathan Rudolph
Warranty Deed
$750,000 · Banterra Bank
Mar 14, 2023
—
Nathan Rudolph
Nathan Rudolph
Intrafamily Transfer
related
$451,000 · Boonville Fsb
Jan 3, 2019
—
Nathan Rudolph
Carter Lumber Company
Warranty Deed
$255,000 · Boonville Fsb
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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