New search
Property profile & analytics
OFF-MARKET
Estimated value
$12,010,000
Warehouses
3201 Bearing Dr Franklin, IN 46131-7415
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0817331
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Construction
TYPE NOT SPECIFIED
Total area
136,760 SF
Lot
31.47 ac (1,370,790 SF)
APN
41-05-34-044-016.000-009
UPID
US31-0817331
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
by Request
CAP Approach
CAP
$11.42M
Comparable Approach
Comparable
$16.59M
Blend (final)
Blend
$12.01M
Owner & transaction history
Ilpt Bemidji LLC · 4 yrs held
Ilpt Bemidji LLC
since 2022
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$19.2M
+50.1%
Commercial (general)
$12.9M
+0.9%
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 Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin 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%
$12,375,000
6.5%
$11,420,000
7%
$10,605,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$12,775,000
Current use
RETAIL STORES
$19,165,000
Change: +50% · Conversion: Moderate
COMMERCIAL (GENERAL)
$12,895,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$12.01M
Range $10.81M – $13.21M · ±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
$88 / 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
$255,611
Tax year 2023
Assessed value
$8,823,600
Assessed 2023
Previous assessed
$8,823,600
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$2,339,300
Assessed improvement
$6,484,300
Land market value
$2,339,300
Improvement market value
$6,484,300
Total market value
$8,823,600
Applied tax rate
9.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
5
Stories
2
Total area
136,760 SF
Lot
31.47 ac (1,370,790 SF)
APN
41-05-34-044-016.000-009
UPID
US31-0817331
Jurisdiction
JOHNSON
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
WAREHOUSE, STORAGE Current
Est. value
$12.8M
RETAIL STORES
Est. value
$19.2M
COMMERCIAL (GENERAL)
Est. value
$12.9M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1992
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
5
Lot
31.47 ac
Current owner
From public records · entity-resolved
Ilpt Bemidji LLC
Entity
Mailing address
NEWTON, MA
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2022
—
Ilpt Bemidji LLC
Ilpt Properties LLC
Special Warranty Deed
$445,000,000 · City Real Estate Funding INC
May 3, 2019
—
Ilpt Properties LLC
Arcp Id Franklin In LLC
Special 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3201 Bearing Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
