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Property profile & analytics
OFF-MARKET
Estimated value
$980,000
Office Spaces
3542 500th N Whiteland, IN 46184-9591
Individually Owned
14-yr Hold
Free & Clear
Property ID
US31-0473407
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1974
Construction
WOOD
Total area
6,410 SF
Lot
15.45 ac (673,176 SF)
Zoning code
B-2
APN
41-05-24-043-001.000-006
UPID
US31-0473407
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
-
A B Driver Testing Vocational School
-
Truck Driver Institute Vocational School Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.02M
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$980k
Owner & transaction history
Linda L Norton · 14 yrs held
Linda L Norton
since 2011
3 recorded transactions
Zoning & alternative use
B-2 · Whiteland, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$900,000
+43.7%
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 Whiteland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Whiteland 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%
$1,105,000
6.5%
$1,020,000
7%
$950,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$625,000
Current use
RETAIL STORES
$900,000
Change: +44% · Conversion: Easy
WAREHOUSE, STORAGE
$600,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$980k
Range $882k – $1.08M · ±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
$153 / 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
$17,116
Tax year 2023
Assessed value
$856,100
Assessed 2023
Previous assessed
$856,100
+0.0% YoY
Effective rate
2.00%
On assessed value
Assessed land
$595,600
Assessed improvement
$260,500
Land market value
$595,600
Improvement market value
$260,500
Total market value
$856,100
Applied tax rate
6.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1974
Construction
WOOD
Heating
NONE
Stories
1
Total area
6,410 SF
Lot
15.45 ac (673,176 SF)
Zoning code
B-2
APN
41-05-24-043-001.000-006
UPID
US31-0473407
Jurisdiction
JOHNSON
Zoning & alternative use
B-2 · Whiteland, IN
Zoning B-2 · permitted uses
B-2 · Whiteland, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Whiteland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$625,000
RETAIL STORES
Est. value
$900,000
WAREHOUSE, STORAGE
Est. value
$600,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1974
Construction
WOOD
Heating
NONE
Stories
1
Lot
15.45 ac
Current owner
From public records · entity-resolved
Linda L Norton
Individual
Free & Clear · 14 yrs held
Mailing address
PO BOX 1599, MURFREESBORO, TN 37133-1599
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
Dec 8, 2011
—
Linda L Norton
Sunset Plaza Enterprises LLC
Warranty Deed
—
May 9, 2011
—
Sunset Plaza Enterprise LLC
Stores Leasing & Management LLC
Warranty Deed
—
Jun 21, 2010
—
Convenience Stores Leasing & Mgmt L
Bulk Petroleum Indiana Properties L
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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