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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Turn key restaurants
2905 Ferndale Rd Elkhart, IN 46517-8789
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US31-0641289
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2007
Construction
WOOD
Total area
4,715 SF
Lot
1.48 ac (64,338 SF)
Zoning code
ZO01
APN
20-06-26-477-014.000-013
UPID
US31-0641289
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
-
TenderFix by Noah Schnapp Restaurant
-
IHOP Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$340k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$667k
Blend (final)
Blend
$505k
Owner & transaction history
Flip Real Estate Holding Co · 19 yrs held
Flip Real Estate Holding Co
since 2006
6 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$470,000
+5.8%
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 Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart 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
$340,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$445,000
Current use
AUTO REPAIR, GARAGE
$470,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$360,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$107 / 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
$25,625
Tax year 2023
Assessed value
$847,100
Assessed 2023
Previous assessed
$847,100
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$406,200
Assessed improvement
$440,900
Land market value
$406,200
Improvement market value
$440,900
Total market value
$847,100
Applied tax rate
13.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2007
Construction
WOOD
Heating
YES
Stories
1
Total area
4,715 SF
Lot
1.48 ac (64,338 SF)
Zoning code
ZO01
APN
20-06-26-477-014.000-013
UPID
US31-0641289
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, IN
Zoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkhart. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$445,000
AUTO REPAIR, GARAGE
Est. value
$470,000
COMMERCIAL (GENERAL)
Est. value
$360,000
RESTAURANT Current
AUTO REPAIR, GARAGE
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
WOOD
Heating
YES
Stories
1
Lot
1.48 ac
Current owner
From public records · entity-resolved
Flip Real Estate Holding Co
Entity
Mailing address
PO BOX 7507, PROSPECT HEIGHTS, IL 60070-7507
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2018
—
Flip Real Estate Holding Co
—
Deed
related
$100,000 · Liftforward INC
Aug 11, 2006
—
Flip Real Estate Holding Co
Janmohammed,salauddin
Warranty Deed
related
—
—
—
Flip Real Estate Holding Co
—
Deed Of Trust
related
$312,000 · Liftforward INC
—
—
Flip Real Estate Holding Co
—
Deed Of Trust
related
$100,000 · Liftforward INC
—
—
Flip Real Estate Holding Co
—
Deed Of Trust
related
$397,000 · Ridgestone Bank
—
—
Flip Real Estate Holding Co
—
Deed Of Trust
related
$1,476,000 · Ridgestone 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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