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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Flex space
417 Water St Urbana, OH 43078-2367
Entity Owned
Absentee Owner
Free & Clear
Property ID
US66-4307693
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1816
Total area
15,917 SF
Lot
14.15 ac (616,374 SF)
APN
K48-25-11-02-30-034-00
UPID
US66-4307693
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
-
Bundy Baking Solutions Production Facility Food Processing Plant
-
American Pan Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.14M
Owner & transaction history
WILLOW RUN REALTY LLC
WILLOW RUN REALTY LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+157.1%
Restaurant
$1.5M
+141.8%
Apartment house (5+ units)
$1.5M
+138.8%
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 Urbana submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Urbana 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%
$1,090,000
6.5%
$1,005,000
7%
$935,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,630,000
Change: +157% · Conversion: Difficult
RESTAURANT
$1,530,000
Change: +142% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,515,000
Change: +139% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,490,000
Change: +135% · Conversion: Difficult
RETAIL STORES
$1,440,000
Change: +128% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,220,000
Change: +93% · Conversion: Easy
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±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
$72 / 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
$99,094
Tax year 2023
Assessed value
$1,456,830
Assessed 2023
Previous assessed
$1,456,830
+0.0% YoY
Effective rate
6.80%
On assessed value
Assessed land
$135,860
Assessed improvement
$1,320,970
Land market value
$388,180
Improvement market value
$3,774,190
Total market value
$4,162,370
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1816
Heating
CENTRAL
Cooling
CENTRAL
Buildings
5
Stories
2
Total area
15,917 SF
Lot
14.15 ac (616,374 SF)
APN
K48-25-11-02-30-034-00
UPID
US66-4307693
Jurisdiction
CHAMPAIGN
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
OFFICE BUILDING
Est. value
$1.6M
RESTAURANT
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
1816
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
5
Lot
14.15 ac
Current owner
From public records · entity-resolved
WILLOW RUN REALTY LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2075 FAIR AVE, COLUMBUS, OH 43209-1637
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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