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Property profile & analytics
OFF-MARKET
Estimated value
$2,200,000
Office Spaces
421 2nd St Elkhart, IN 46516-3238
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US31-0711735
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1908
Construction
TYPE NOT SPECIFIED
Total area
73,853 SF
Lot
0.33 ac (14,375 SF)
APN
20-06-05-454-013.000-012
UPID
US31-0711735
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
-
Bernard Katz Law Office Law Firm
-
Pathfinder Communications Corporation Radio Station Telecommunications Service
-
Turner Portable Toilets Building Supply
-
TNT Tattoos Tattoo & Piercing Shop
-
HYR Radiance LLC Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.82M
Blend (final)
Blend
$2.20M
Owner & transaction history
Mount North Capital 3 LLC
Mount North Capital 3 LLC
since 2026
7 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.20M
Range $1.98M – $2.42M · ±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
$30 / 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
$49,790
Tax year 2023
Assessed value
$1,644,400
Assessed 2023
Previous assessed
$1,644,400
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$41,300
Assessed improvement
$1,603,100
Land market value
$41,300
Improvement market value
$1,603,100
Total market value
$1,644,400
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
1908
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
7
Total area
73,853 SF
Lot
0.33 ac (14,375 SF)
APN
20-06-05-454-013.000-012
UPID
US31-0711735
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
1908
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
7
Lot
0.33 ac
Current owner
From public records · entity-resolved
Mount North Capital 3 LLC
Entity
Mailing address
3046 E BRECKSVILLE RD STE D, RICHFIELD, OH 44286-9252
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2026
—
Mount North Capital 3 LLC
—
Deed
related
$1,375,000 · Bridgewell Capital LLC
Jan 6, 2026
—
Mount North Capital 3 LLC
Mount North Capital 5 LLC
Quitclaim Deed
related
$1,375,000 · Bridgewell Capital LLC
Oct 30, 2024
—
Mount North Capital 5 LLC
—
Deed
related
$6,000,000 · Sip Tax Deed Fund 1 LLC
Oct 3, 2024
—
Mount North Capital 5 LLC
Mount North Capital 2 LLC
Intrafamily Transfer
related
$6,000,000 · Sip Tax Deed Fund 1 LLC
Nov 2, 2022
—
Mount North Capital 2 LLC
Oic Elkhart Truth LLC
Limited Warranty Deed
—
Oct 4, 2022
—
Oic Elkhart Truth LLC
421 S Second Street LLC
Warranty Deed
—
Aug 28, 2017
—
421 S Second Street LLC
Truth Publishing Co INC
Grant Deed
—
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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