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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Office Spaces
419 Main St Elkhart, IN 46516-3210
Entity Owned
~
Est. High Equity
Property ID
US31-3496389
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1920
Construction
WOOD
Total area
12,600 SF
Lot
0.2 ac (8,581 SF)
APN
20-06-05-455-026.000-012
UPID
US31-3496389
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
-
Investment Planning Associates Inc Financial Advisor
-
Golden Bear Bikes (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$380k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$653k
Blend (final)
Blend
$525k
Owner & transaction history
Short Properties LLC
Short Properties LLC
since 2025
5 recorded transactions
Zoning & alternative use
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 Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart 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
$380,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$42 / 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
$17,908
Tax year 2023
Assessed value
$380,900
Assessed 2023
Previous assessed
$380,900
+0.0% YoY
Effective rate
4.70%
On assessed value
Assessed land
$54,200
Assessed improvement
$326,700
Land market value
$54,200
Improvement market value
$326,700
Total market value
$380,900
Applied tax rate
12.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1920
Construction
WOOD
Heating
YES
Cooling
YES
Stories
3
Total area
12,600 SF
Lot
0.2 ac (8,581 SF)
APN
20-06-05-455-026.000-012
UPID
US31-3496389
Jurisdiction
ELKHART
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1920
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Lot
0.2 ac
Current owner
From public records · entity-resolved
Short Properties LLC
Entity
Mailing address
515 S 2ND ST, ELKHART, IN 46516-3224
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2025
—
Short Properties LLC
Riverworld Holdings Limited LLC
Warranty Deed
$582,303 · First State Bank Of Middlebury
Mar 18, 2021
$405,000
Riverwold Holding Limited LLC
419 Property LLC
Warranty Deed
$366,500 · Bank Of The West
Mar 30, 2005
—
419 Property LLC
Diane M Kolodziej
Personal Representative Deed
$245,000 · St Joseph Capital Bank
—
—
419 Property LLC
—
Deed Of Trust
related
$138,000 · Horizon Bank
—
—
419 Property LLC
—
Deed Of Trust
related
$67,000 · 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.
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