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Property profile & analytics
OFF-MARKET
Estimated value
$12,075,000
Warehouses
4440 Muhlhauser Rd West Chester, OH 45011-9767
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US66-2125288
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Total area
251,442 SF
Lot
14.6 ac (635,889 SF)
APN
M5610-007.000-056
UPID
US66-2125288
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
$12.29M
Blend (final)
Blend
$12.08M
Owner & transaction history
Ipt Cincinnati Ic LLC · 10 yrs held
Ipt Cincinnati Ic LLC
since 2015
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$17.2M
+39.0%
Retail stores
$16.4M
+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
$12,400,000
Current use
OFFICE BUILDING
$17,235,000
Change: +39% · Conversion: Difficult
RETAIL STORES
$16,445,000
Change: +33% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$12,395,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$12.08M
Range $10.87M – $13.28M · ±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
$34,982
Tax year 2023
Assessed value
$3,882,640
Assessed 2023
Previous assessed
$3,081,570
+26.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$353,720
Assessed improvement
$3,528,920
Land market value
$1,010,620
Improvement market value
$10,082,620
Total market value
$11,093,240
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
1999
Heating
HOT WATER
Cooling
NONE
Stories
1
Total area
251,442 SF
Lot
14.6 ac (635,889 SF)
APN
M5610-007.000-056
UPID
US66-2125288
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
$12.4M
OFFICE BUILDING
Est. value
$17.2M
RETAIL STORES
Est. value
$16.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.4M
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
1999
Heating
HOT WATER
Cooling
Yes
Stories
1
Lot
14.6 ac
Current owner
From public records · entity-resolved
Ipt Cincinnati Ic LLC
Entity
Mailing address
1800 WAZEE ST STE #500, DENVER, CO 80202-2526
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2016
—
Ipt Cincinnati Ic LLC
—
Deed
related
$120,000,000 · Miscellaneous Ins Co
Dec 2, 2015
$12,267,500
Ipt Cincinnati Ic LLC
4440 Mulhauser Road Investors
Grant Deed
—
Jun 30, 2014
—
4440 Mulhauser Road Investors
—
Deed Of Trust
related
$5,000,000 · Great-west Life & Annuity Ins
Apr 1, 2013
—
Mulhauser Road Investors LLC
—
Deed Of Trust
related
$4,536,613 · Principal Life Insurance Co
Oct 30, 1998
$583,200
Warm Bros Construction Co
Shapiro & Associates Ltd
Trustees Deed
—
—
—
Ipt Cincinnati Ic LLC
—
Deed Of Trust
related
$120,000,000 · Miscellaneous 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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