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Property profile & analytics
OFF-MARKET
Estimated value
$13,200,000
Office Spaces
3720 State Rd 162 Lincoln City, IN 47552-9700
Individually Owned
2-yr Hold
Free & Clear
Property ID
US31-1569677
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1970
Construction
WOOD
Total area
135,146 SF
Lot
37.98 ac (1,654,365 SF)
APN
74-02-32-400-038.000-001
UPID
US31-1569677
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
by Request
Comparable Approach
Comparable
$13.20M
Blend (final)
Blend
$13.20M
Owner & transaction history
North Spencer Cnty Middle School Bl · 2 yrs held
North Spencer Cnty Middle School Bl
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$17.9M
+35.3%
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 Lincoln City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lincoln City 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)
$13,200,000
Current use
INDUSTRIAL (GENERAL)
$17,865,000
Change: +35% · Conversion: Moderate
RETAIL STORES
$12,360,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$10,900,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$13.20M
Range $11.88M – $14.52M · ±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
$98 / 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
1.0000
Comparables
1 recent transactions · within 1.5 miComparable in this city
1 recent transactions
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
1970
Construction
WOOD
Heating
NONE
Buildings
6
Stories
1
Total area
135,146 SF
Lot
37.98 ac (1,654,365 SF)
APN
74-02-32-400-038.000-001
UPID
US31-1569677
Jurisdiction
SPENCER
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
COMMERCIAL (GENERAL) Current
Est. value
$13.2M
INDUSTRIAL (GENERAL)
Est. value
$17.9M
RETAIL STORES
Est. value
$12.4M
AUTO REPAIR, GARAGE
Est. value
$10.9M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
1970
Construction
WOOD
Heating
NONE
Stories
1
Buildings
6
Lot
37.98 ac
Current owner
From public records · entity-resolved
North Spencer Cnty Middle School Bl
Individual
Free & Clear · 2 yrs held
Mailing address
PO BOX 316, LINCOLN CITY, IN 47552
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
Dec 21, 2023
—
North Spencer Cnty Middle School Bl
North Spencer County School Corpora
Intrafamily Transfer
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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