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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Retail space
302 Market St Nappanee, IN 46550-1941
Entity Owned
19-yr Hold
Free & Clear
Property ID
US31-2614812
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Construction
WOOD
Total area
8,712 SF
Lot
0.2 ac (8,712 SF)
Zoning code
ZO01
APN
20-13-36-278-010.000-021
UPID
US31-2614812
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
-
Nappanee Apple Festival Music Venue
-
Nappanee Area Chamber of Commerce Business Service Center Advocacy Group
-
Victorian Guest House Bed & Breakfast Restaurant
-
ELC Heritage Collection Museum
-
Market St. Manor Bed & Breakfast Bed & Breakfast Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$589k
Blend (final)
Blend
$590k
Owner & transaction history
Civil City Of Nappanee Indiana · 19 yrs held
Civil City Of Nappanee Indiana
since 2007
1 recorded transaction
Zoning & alternative use
ZO01 · Nappanee, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$750,000
+27.5%
Auto repair, garage
$715,000
+21.0%
Apartment house (5+ units)
$630,000
+7.0%
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 Nappanee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nappanee 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$590,000
Current use
RESTAURANT
$750,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$715,000
Change: +21% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$630,000
Change: +7% · Conversion: Difficult
MEDICAL BUILDING
$540,000
Change: -9% · Conversion: Difficult
COMMERCIAL (GENERAL)
$505,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$68 / 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
Applied tax rate
21.0000
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
1988
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
8,712 SF
Lot
0.2 ac (8,712 SF)
Zoning code
ZO01
APN
20-13-36-278-010.000-021
UPID
US31-2614812
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Nappanee, IN
Zoning ZO01 · permitted uses
ZO01 · Nappanee, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nappanee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$590,000
RESTAURANT
Est. value
$750,000
AUTO REPAIR, GARAGE
Est. value
$715,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$630,000
MEDICAL BUILDING
Est. value
$540,000
COMMERCIAL (GENERAL)
Est. value
$505,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1988
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Civil City Of Nappanee Indiana
Entity
Free & Clear · 19 yrs held
Mailing address
PO BOX 52, NAPPANEE, IN 46550-0052
Ownership since
2007
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 31, 2007
—
Civil City Of Nappanee Indiana
Pletcher Ents INC
Warranty Deed
—
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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