Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Warehouses
4109 Reas Ln New Albany, IN 47150-2230
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1837912
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1997
Construction
TYPE NOT SPECIFIED
Total area
7,520 SF
Lot
2.16 ac (94,133 SF)
APN
22-05-01-500-266.000-008
UPID
US31-1837912
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
-
Strohbeck Construction Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$398k
Blend (final)
Blend
$640k
Owner & transaction history
Fast Holdings LLC · 1 yrs held
Fast Holdings LLC
since 2025
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$585,000
+124.3%
Auto repair, garage
$565,000
+116.0%
Retail stores
$510,000
+96.0%
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 New Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Albany 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
$685,000
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
RESTAURANT
$585,000
Change: +124% · Conversion: Difficult
AUTO REPAIR, GARAGE
$565,000
Change: +116% · Conversion: Easy
RETAIL STORES
$510,000
Change: +96% · Conversion: Moderate
COMMERCIAL (GENERAL)
$440,000
Change: +68% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$395,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$85 / 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
$17,809
Tax year 2023
Assessed value
$352,800
Assessed 2023
Previous assessed
$352,800
+0.0% YoY
Effective rate
5.05%
On assessed value
Assessed land
$117,100
Assessed improvement
$235,700
Land market value
$117,100
Improvement market value
$235,700
Total market value
$352,800
Applied tax rate
8.0000
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
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1997
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
7,520 SF
Lot
2.16 ac (94,133 SF)
APN
22-05-01-500-266.000-008
UPID
US31-1837912
Jurisdiction
FLOYD
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
RESTAURANT
Est. value
$585,000
AUTO REPAIR, GARAGE
Est. value
$565,000
RETAIL STORES
Est. value
$510,000
COMMERCIAL (GENERAL)
Est. value
$440,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$395,000
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1997
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
2.16 ac
Current owner
From public records · entity-resolved
Fast Holdings LLC
Entity
Mailing address
2100 ARNOLD PALMER BLVD, LOUISVILLE, KY 40245-5262
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2025
—
Fast Holdings LLC
Tab 15 LLC
Warranty Deed
$887,500 · First Harrison Bank
Jun 5, 2020
$590,000
Tab 15 LLC
Bubbanna LLC
Warranty Deed
$472,000 · Stock Yards Bank & Trust Co
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 4109 Reas Ln?
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.
