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Property profile & analytics
OFF-MARKET
Estimated value
$2,295,000
Warehouses
402 Rawles Ct Indianapolis, IN 46229-3148
Trust Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1258554
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Construction
TYPE NOT SPECIFIED
Total area
25,200 SF
Lot
5.96 ac (259,617 SF)
APN
49-09-08-111-005.000-700
UPID
US31-1258554
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
-
Mobile Air & Power Rentals (Bike/Boat/Book/etc) Store Rental Equipment Company
-
Sharp Shingle Roofing Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.27M
CAP Approach
CAP
$2.35M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$2.30M
Owner & transaction history
Johnson Trust · 1 yrs held
Johnson Trust
since 2024
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.0M
+96.5%
Commercial (general)
$1.9M
+84.8%
Retail stores
$1.9M
+84.4%
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 Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis 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
$2,270,000
ML approach
$2,270,000
CAP Approach
CAP Return
Estimation
6%
$2,540,000
6.5%
$2,345,000
7%
$2,180,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,005,000
Change: +97% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,890,000
Change: +85% · Conversion: Difficult
RETAIL STORES
$1,885,000
Change: +84% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,575,000
Change: +54% · Conversion: Easy
Blend value · Realmo final
$2.30M
Range $2.07M – $2.52M · ±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
$91 / 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
$43,961
Tax year 2023
Assessed value
$1,530,400
Assessed 2023
Previous assessed
$1,530,400
+0.0% YoY
Effective rate
2.87%
On assessed value
Assessed land
$428,300
Assessed improvement
$1,102,100
Land market value
$428,300
Improvement market value
$1,102,100
Total market value
$1,530,400
Applied tax rate
700.0000
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
2004
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Total area
25,200 SF
Lot
5.96 ac (259,617 SF)
APN
49-09-08-111-005.000-700
UPID
US31-1258554
Jurisdiction
MARION
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
AUTO REPAIR, GARAGE
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.9M
RETAIL STORES
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2004
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
5.96 ac
Current owner
From public records · entity-resolved
Johnson Trust
Trust
Mailing address
1219 S 10TH AVE, ARCADIA, CA 91006-4508
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2024
—
Johnson Trust
Johnson Trust
Intrafamily Transfer
related
—
Jul 6, 2020
$2,500,000
Equity Advisors Group INC
Rawlescourt LLC
Grant Deed
related
—
Jul 6, 2020
—
Johnson Family Trust
Equity Advisors Group INC
Grant Deed
related
—
Nov 24, 2014
—
Rawlescourt LLC
Rawco LLC
Grant Deed
related
—
Dec 17, 2004
$2,270,000
Rawco LLC
Rawles LLC
Warranty Deed
$1,870,000 · Old Nat'l Bk
Aug 6, 2004
—
Rawles LLC
—
Trustees Deed
related
$1,384,000 · National Cty Bk/in
—
—
Rawco LLC
—
Deed Of Trust
related
$277,000 · Rawsave LLC
—
—
Rawco LLC
—
Deed Of Trust
related
$1,450,000 · Old National 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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