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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Commercial real estate
412 Madison Ave North Vernon, IN 47265-2215
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-1599788
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1972
Construction
WOOD
Total area
10,824 SF
Lot
1.18 ac (51,227 SF)
APN
40-09-34-400-045.002-004
UPID
US31-1599788
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
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$423k
Blend (final)
Blend
$545k
Owner & transaction history
Alexander Holdings LLC · 2 yrs held
Alexander Holdings LLC
since 2024
Last sale
$545,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$875,000
+1.4%
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 North Vernon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Vernon 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
$545,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$865,000
Current use
RETAIL STORES
$875,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $545k (Jan 25 2024)
Last sale anchor
$545k
Jan 25 2024
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
$50 / 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
$4,041
Tax year 2023
Assessed value
$134,700
Assessed 2023
Previous assessed
$134,700
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$29,400
Assessed improvement
$105,300
Land market value
$29,400
Improvement market value
$105,300
Total market value
$134,700
Applied tax rate
4.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1972
Construction
WOOD
Heating
NONE
Stories
2
Total area
10,824 SF
Lot
1.18 ac (51,227 SF)
APN
40-09-34-400-045.002-004
UPID
US31-1599788
Jurisdiction
JENNINGS
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
COMMERCIAL (GENERAL) Current
Est. value
$865,000
RETAIL STORES
Est. value
$875,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1972
Construction
WOOD
Heating
NONE
Stories
2
Lot
1.18 ac
Current owner
From public records · entity-resolved
Alexander Holdings LLC
Entity
Mailing address
113 N JACKSON ST, NORTH VERNON, IN 47265-1503
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2024
—
Alexander Holdings LLC
Square One Venture Properties LLC
Warranty Deed
$436,000 · Jackson County Bank
Jan 25, 2024
$545,000
Square One Venture Properties LLC
Gega L Sharp
Quitclaim Deed
$436,000 · Jackson County Bank
Oct 2, 2015
—
Gega L Sharp
Jeffrey L Rayburn
Warranty Deed
$210,000 · River Valley Financial Bank
Sep 28, 2015
—
Ralph Anthony Sharp
All Sharp Properties LLC
Warranty Deed
—
Aug 22, 2014
$90,100
All Sharp Properties LLC
Stephan D Hoppock
Sheriffs 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.
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