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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Grocery and convenience stores
2909 Us Hwy 12 Michigan City, IN 46360-2181
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1559671
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1966
Construction
WOOD
Total area
1,950 SF
Lot
0.5 ac (21,606 SF)
APN
46-01-22-278-025.000-022
UPID
US31-1559671
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
$1.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
Denali Group A LLC · 6 yrs held
Denali Group A LLC
since 2020
Last sale
$1.0M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City 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
$1,160,000
ML approach
$1,140,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±10% · vs last sale $1.00M (Apr 7 2020)
Last sale anchor
$1.00M
Apr 7 2020
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
$551 / 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
$4,173
Tax year 2023
Assessed value
$137,900
Assessed 2023
Previous assessed
$137,900
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$62,400
Assessed improvement
$75,500
Land market value
$62,400
Improvement market value
$75,500
Total market value
$137,900
Applied tax rate
42.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1966
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
1,950 SF
Lot
0.5 ac (21,606 SF)
APN
46-01-22-278-025.000-022
UPID
US31-1559671
Jurisdiction
LA PORTE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1966
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
0.5 ac
Current owner
From public records · entity-resolved
Denali Group A LLC
Entity
Mailing address
8693 E US HWY 20, NEW CARLISLE, IN 46552-9004
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2020
$1,000,000
Denali Group A LLC
Basra & Chohan LLC
Warranty Deed
$1,800,000 · First Source Bank
Aug 20, 2013
—
Basra And Chohan LLC
Jay Rodney Reese
Trustees Deed
related
—
Aug 25, 2010
—
Reese Holdings LLC I
Gobinder Basra
Quit Claim Deed
related
—
Jun 19, 2007
—
Gobinder Basra
Amrik Basra
Quit Claim Deed
related
—
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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