Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,065,000
Warehouses
402 Main St Middlebury, IN 46540-9216
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-1169847
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1995
Construction
WOOD
Total area
432,410 SF
Lot
63.75 ac (2,777,037 SF)
Zoning code
ZO01
APN
20-08-11-100-027.000-035
UPID
US31-1169847
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
-
Lozier Store Fixtures Industrial Manufacturer Production Facility
-
Middlebury College Corporate Office Business Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.45M
Blend (final)
Blend
$5.07M
Owner & transaction history
Town Of Midlebeury · 4 yrs held
Town Of Midlebeury
since 2022
3 recorded transactions
Zoning & alternative use
ZO01 · Middlebury, 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 Middlebury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middlebury 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
Blend value · Realmo final
$5.07M
Range $4.56M – $5.57M · ±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
$12 / 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
$200,990
Tax year 2023
Assessed value
$9,604,400
Assessed 2023
Previous assessed
$9,604,400
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$938,500
Assessed improvement
$8,665,900
Land market value
$938,500
Improvement market value
$8,665,900
Total market value
$9,604,400
Applied tax rate
35.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1995
Construction
WOOD
Heating
YES
Stories
1
Total area
432,410 SF
Lot
63.75 ac (2,777,037 SF)
Zoning code
ZO01
APN
20-08-11-100-027.000-035
UPID
US31-1169847
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Middlebury, IN
Zoning ZO01 · permitted uses
ZO01 · Middlebury, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middlebury. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1995
Construction
WOOD
Heating
YES
Stories
1
Lot
63.75 ac
Current owner
From public records · entity-resolved
Town Of Midlebeury
Individual
Free & Clear · 4 yrs held
Mailing address
6336 JOHN J PERSHING DR, OMAHA, NE 68110-1100
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Feb 18, 2022
—
Town Of Midlebeury
Lozier Store Fixture Ll
Release/satis. Of Agrem. Of Sale (fee Property)
related
—
Nov 12, 2014
—
Sfu LLC
Leggett & Platt INC
Grant Deed
—
Jul 14, 2006
—
Town Council Of Town/middlebury I
Hochstetler,jonathan C & Edna M
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 402 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
