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Property profile & analytics
OFF-MARKET
Office Spaces
400 Elm St Millersburg, IN 46543-7704
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-1240791
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1981
Construction
WOOD
Total area
4,480 SF
Lot
0.42 ac (18,252 SF)
Zoning code
ZO01
APN
20-12-35-302-008.000-008
UPID
US31-1240791
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
-
Millersburg Animal Clinic Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Nicholas Schrock · 1 yrs held
Nicholas Schrock
since 2025
1 recorded transaction
Zoning & alternative use
ZO01 · Millersburg, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Millersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millersburg 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,544
Tax year 2023
Assessed value
$158,400
Assessed 2023
Previous assessed
$158,400
+0.0% YoY
Effective rate
2.24%
On assessed value
Assessed land
$35,600
Assessed improvement
$122,800
Land market value
$35,600
Improvement market value
$122,800
Total market value
$158,400
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1981
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
4,480 SF
Lot
0.42 ac (18,252 SF)
Zoning code
ZO01
APN
20-12-35-302-008.000-008
UPID
US31-1240791
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Millersburg, INZoning ZO01 · permitted uses
ZO01 · Millersburg, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1981
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Nicholas Schrock
Individual
Mailing address
PO BOX 128, MILLERSBURG, IN 46543-0128
Ownership since
2025
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
Apr 2, 2025
—
Nicholas Schrock
Millersburg Animal Clinic INC
Deed
$448,000 · Interra Credit Union
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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