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Property profile & analytics
OFF-MARKET
Estimated value
$2,620,000
Warehouses
400 Forsythe St Franklin, IN 46131-1558
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1277955
Property summary
AI-generated overview
This exceptional 9,500 square foot warehouse space is immediately available for lease in Franklin, Johnson County, within the Indianapolis submarket. Located at 400 N Forsythe St, this unit is part of a larger multi-tenant industrial building totaling 104,416 square feet. The space features a 14-foot drive-in door and boasts an impressive 18-foot clear height, providing ample room for storage and maneuvering of goods. High-efficiency T-8 lighting illuminates the entire space, ensuring optimal working conditions. The property is zoned IG (industrial general), offering flexibility for a variety of industrial uses. An added benefit is the potential for outside storage, expanding your operational capabilities. A build-to-suit office is available for occupancy starting April 1, 2024. This prime location in the thriving Indianapolis market offers excellent access to major transportation routes, making it an ideal choice for businesses seeking efficient logistics and distribution. Don't miss this opportunity to secure a well-appointed warehouse space in a desirable location. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1930
Construction
TYPE NOT SPECIFIED
Total area
104,686 SF
Lot
11.36 ac (494,667 SF)
APN
41-08-13-023-094.000-009
UPID
US31-1277955
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
$2.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$2.62M
Owner & transaction history
Forsythe LLC · 2 yrs held
Forsythe LLC
since 2023
Last sale
$2.7M
2 recorded transactions
Zoning & alternative use
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 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
$2,605,000
ML approach
$2,760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.62M
Range $2.36M – $2.88M · ±10% · vs last sale $2.65M (Oct 24 2023)
Last sale anchor
$2.65M
Oct 24 2023
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
$25 / 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
$47,663
Tax year 2023
Assessed value
$1,645,300
Assessed 2023
Previous assessed
$1,645,300
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$538,300
Assessed improvement
$1,107,000
Land market value
$538,300
Improvement market value
$1,107,000
Total market value
$1,645,300
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
1930
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
104,686 SF
Lot
11.36 ac (494,667 SF)
APN
41-08-13-023-094.000-009
UPID
US31-1277955
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
Building & site characteristics
From public records
Year built
1930
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
11.36 ac
Current owner
From public records · entity-resolved
Forsythe LLC
Entity
Mailing address
3242 S 650TH W, SHELBYVILLE, IN 46176-9088
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2023
$2,650,000
Forsythe LLC
400 Forsythe LLC
Special Warranty Deed
$2,620,987 · Mutual Savings Bank
Oct 31, 2006
—
400 Forsythe LLC
Franklin Power Products INC
Warranty Deed
$680,000 · Homefed 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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