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Property profile & analytics
OFF-MARKET
Estimated value
$11,730,000
Warehouses
4438 Muhlhauser Rd West Chester, OH 45011-9775
Entity Owned
25-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-2820788
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Total area
244,486 SF
Lot
11.92 ac (519,148 SF)
APN
M5610-007.000-021
UPID
US66-2820788
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.91M
Blend (final)
Blend
$11.73M
Owner & transaction history
Fr Development Services INC · 25 yrs held
Fr Development Services INC
since 2000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$16.8M
+39.0%
Retail stores
$16.0M
+32.6%
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 West Chester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Chester 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
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$12,060,000
Current use
OFFICE BUILDING
$16,760,000
Change: +39% · Conversion: Difficult
RETAIL STORES
$15,990,000
Change: +33% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$12,055,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$11.73M
Range $10.56M – $12.90M · ±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
$48 / 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
$27,767
Tax year 2023
Assessed value
$3,763,420
Assessed 2023
Previous assessed
$3,020,670
+24.6% YoY
Effective rate
0.74%
On assessed value
Assessed land
$279,850
Assessed improvement
$3,483,570
Land market value
$799,580
Improvement market value
$9,953,060
Total market value
$10,752,640
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Heating
HOT WATER
Cooling
NONE
Stories
1
Total area
244,486 SF
Lot
11.92 ac (519,148 SF)
APN
M5610-007.000-021
UPID
US66-2820788
Jurisdiction
BUTLER
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
WAREHOUSE, STORAGE Current
Est. value
$12.1M
OFFICE BUILDING
Est. value
$16.8M
RETAIL STORES
Est. value
$16.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.1M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RETAIL STORES
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
2001
Heating
HOT WATER
Cooling
Yes
Stories
1
Lot
11.92 ac
Current owner
From public records · entity-resolved
Fr Development Services INC
Entity
Free & Clear · 25 yrs held
Mailing address
9912 WINDISCH RD, WEST CHESTER, OH 45069-3804
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2000
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
May 3, 2011
—
Industrial LP First
—
Deed Of Trust
related
$61,426,614 · Ing Life Ins & Annunity Co
Oct 4, 2010
—
Industrial LP First
—
Deed Of Trust
related
$9,315,000 · Ing USA Annunity & Life Ins Co
Nov 21, 2000
$1,408,400
Fr Development Services INC
Warm Bros Construction Co
Grant Deed
—
Oct 30, 1998
$290,000
Warm Bros Construction Co
Shapiro & Associates Ltd
Grant Deed
—
—
—
Industrial LP First
—
Deed Of Trust
related
$9,315,000 · Ing USA Annunity & Life Ins 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.
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