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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Retail space
4505 3rd St Bloomington, IN 47401-5553
Entity Owned
~
Est. High Equity
Property ID
US31-1267332
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1974
Construction
TYPE NOT SPECIFIED
Total area
6,840 SF
Lot
0.85 ac (37,026 SF)
APN
53-05-36-300-016.000-005
UPID
US31-1267332
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
$940k
Blend (final)
Blend
$755k
Owner & transaction history
Lasher Properties LLC-s Series 2
Lasher Properties LLC-s Series 2
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 Bloomington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bloomington 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
RETAIL STORES
$1,035,000
Current use
COMMERCIAL (GENERAL)
$885,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$110 / 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
$4,338
Tax year 2023
Assessed value
$409,000
Assessed 2023
Previous assessed
$409,000
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$148,800
Assessed improvement
$260,200
Land market value
$148,800
Improvement market value
$260,200
Total market value
$409,000
Applied tax rate
5.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1974
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
6,840 SF
Lot
0.85 ac (37,026 SF)
APN
53-05-36-300-016.000-005
UPID
US31-1267332
Jurisdiction
MONROE
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
RETAIL STORES Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$885,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1974
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
Lasher Properties LLC-s Series 2
Entity
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 19, 2026
$1,100,000
Lasher Properties LLC-s Series 2
Gressel Commercial Properties LLC
Deed
$550,000 · Jpmorgan Chase Bank NA
Mar 19, 2026
—
Lasher Properties LLC-s Series 2
Gressel Commercial Properties LLC
Deed
$550,000 · Jpmorgan Chase Bank NA
Apr 29, 2024
—
Gressel Commercial Properties LLC
4505 East Third LLC
Warranty Deed
$425,000 · The Peoples State Bank
Feb 3, 2021
—
4505 East Third LLC
—
Deed
related
$400,000 · Owen County State Bank
Oct 13, 2017
—
4505 East Third LLC
4505 East Third LLC
Quit Claim Deed
—
Oct 10, 2017
—
4505 East Third LLC
4505 East Third LLC
Quit Claim Deed
—
Nov 3, 2016
$490,000
4505 East Third LLC
Bloomington Supply Corp
Warranty Deed
$392,000 · Owen County State 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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