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Property profile & analytics
OFF-MARKET
Retail space
301 Mulberry St Salem, IN 47167-1743
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-2029420
Property summary
AI-generated overview
This expansive 10,000+ square foot building in Salem, Indiana, presents a unique investment opportunity. Rich in history, it previously served as a popular bowling alley in the 1950s and beyond, later repurposed as a warehouse. The property offers significant versatility, suitable for a variety of uses. Imagine transforming this space into a bustling flea market, a large-scale storage facility, or even a unique entertainment venue – the possibilities are endless. The building features two distinct areas, providing flexibility for different operations or tenants. Convenient access for larger items is facilitated by a garage door and ramp located on the building's left side. The property's prime location in Salem adds to its appeal. Currently, the property is designated as being within a flood plain
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1951
Construction
WOOD
Total area
10,295 SF
Lot
0.31 ac (13,504 SF)
APN
88-24-17-331-039.000-022
UPID
US31-2029420
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
-
Durbin's Carpet (Bike/Boat/Book/etc) Store Carpet & Flooring Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Labet Enterprises LLC · 3 yrs held
Labet Enterprises LLC
since 2023
1 recorded transaction
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,580
Tax year 2023
Assessed value
$86,000
Assessed 2023
Previous assessed
$86,000
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$40,000
Assessed improvement
$46,000
Land market value
$40,000
Improvement market value
$46,000
Total market value
$86,000
Applied tax rate
22.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1951
Construction
WOOD
Heating
NONE
Stories
1
Total area
10,295 SF
Lot
0.31 ac (13,504 SF)
APN
88-24-17-331-039.000-022
UPID
US31-2029420
Jurisdiction
WASHINGTON
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
1951
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Labet Enterprises LLC
Entity
Mailing address
418 HENRETTY RD, UNDERWOOD, IN 47177-7006
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2023
—
Labet Enterprises LLC
Michelle Durbin
Warranty Deed
$130,616 · First Savings 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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