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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Office Spaces
331 Amsler Rd Rensselaer, IN 47978-8591
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US31-2386162
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1983
Construction
WOOD
Total area
8,320 SF
Lot
1.97 ac (85,813 SF)
Zoning code
BUFF
APN
37-07-18-000-046.000-026
UPID
US31-2386162
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
-
Hillcrest Dental Dental Office
-
Dr. John P. Ahler, DDS Dental Office
-
Drone John w DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$605k
Owner & transaction history
Red Leprechaun LLC · 15 yrs held
Red Leprechaun LLC
since 2011
3 recorded transactions
Zoning & alternative use
BUFF · Rensselaer, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$740,000
+34.6%
Retail stores
$675,000
+22.6%
Medical building
$640,000
+16.3%
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 Rensselaer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rensselaer 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
COMMERCIAL (GENERAL)
$550,000
Current use
RESTAURANT
$740,000
Change: +35% · Conversion: Difficult
RETAIL STORES
$675,000
Change: +23% · Conversion: Easy
MEDICAL BUILDING
$640,000
Change: +16% · Conversion: Easy
INDUSTRIAL (GENERAL)
$635,000
Change: +15% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$610,000
Change: +11% · Conversion: Moderate
AUTO REPAIR, GARAGE
$505,000
Change: -8% · Conversion: Difficult
WAREHOUSE, STORAGE
$500,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$73 / 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
$4,803
Tax year 2023
Assessed value
$601,000
Assessed 2023
Previous assessed
$601,000
+0.0% YoY
Effective rate
0.80%
On assessed value
Assessed land
$27,800
Assessed improvement
$573,200
Land market value
$27,800
Improvement market value
$573,200
Total market value
$601,000
Applied tax rate
8.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1983
Construction
WOOD
Heating
NONE
Stories
2
Total area
8,320 SF
Lot
1.97 ac (85,813 SF)
Zoning code
BUFF
APN
37-07-18-000-046.000-026
UPID
US31-2386162
Jurisdiction
JASPER
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
BUFF · Rensselaer, IN
Zoning BUFF · permitted uses
BUFF · Rensselaer, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rensselaer. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$550,000
RESTAURANT
Est. value
$740,000
RETAIL STORES
Est. value
$675,000
MEDICAL BUILDING
Est. value
$640,000
INDUSTRIAL (GENERAL)
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$610,000
AUTO REPAIR, GARAGE
Est. value
$505,000
WAREHOUSE, STORAGE
Est. value
$500,000
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1983
Construction
WOOD
Heating
NONE
Stories
2
Lot
1.97 ac
Current owner
From public records · entity-resolved
Red Leprechaun LLC
Entity
Mailing address
331 E AMSLER RD, RENSSELAER, IN 47978-8591
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2026
—
Red Leprechaun LLC
—
Deed
related
$640,412 · Us Bank NA
May 10, 2024
—
Red Leprechaun LLC
—
Deed
related
$1,209,600 · Kentland Bank
Feb 24, 2011
$625,000
Red Leprechaun LLC
R Gordon Klockow
Warranty Deed
$312,500 · Kentland 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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