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Property profile & analytics
OFF-MARKET
Estimated value
$5,910,000
Warehouses
4844 Western Ave South Bend, IN 46619
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-2344352
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1975
Construction
TYPE NOT SPECIFIED
Total area
95,436 SF
Lot
8.56 ac (372,865 SF)
APN
71-08-08-426-002.000-026
UPID
US31-2344352
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
$6.03M
Blend (final)
Blend
$5.91M
Owner & transaction history
Agap South Bend LLC · 4 yrs held
Agap South Bend LLC
since 2022
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.5M
+109.7%
Auto repair, garage
$7.2M
+77.5%
Commercial (general)
$6.5M
+59.0%
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 South Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Bend 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
$4,070,000
Current use
RETAIL STORES
$8,540,000
Change: +110% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,225,000
Change: +78% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,475,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$5.91M
Range $5.32M – $6.50M · ±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
$62 / 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
$118,981
Tax year 2023
Assessed value
$3,516,000
Assessed 2023
Previous assessed
$3,516,000
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$246,600
Assessed improvement
$3,269,400
Land market value
$246,600
Improvement market value
$3,269,400
Total market value
$3,516,000
Applied tax rate
26.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1975
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
95,436 SF
Lot
8.56 ac (372,865 SF)
APN
71-08-08-426-002.000-026
UPID
US31-2344352
Jurisdiction
ST JOSEPH
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
$4.1M
RETAIL STORES
Est. value
$8.5M
AUTO REPAIR, GARAGE
Est. value
$7.2M
COMMERCIAL (GENERAL)
Est. value
$6.5M
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
1975
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
8.56 ac
Current owner
From public records · entity-resolved
Agap South Bend LLC
Entity
Free & Clear · 4 yrs held
Mailing address
NEW YORK, NY 10022
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jan 9, 2026
—
Agap South Bend LLC
—
Deed
related
$140,300 · Wells Fargo Bank
Oct 31, 2024
—
Agap South Bend LLC
—
Deed
related
$275,000,000 · Wells Fargo Bank
Jun 2, 2022
—
Agap South Bend LLC
4950 Western Ave LLC
Warranty Deed
—
Jan 18, 2019
—
Nilkanth Properties LLC
Nilkanth Properties LLC
Intrafamily Transfer
related
—
Aug 30, 2016
—
4950 Western Ave LLC
4850 Western LLC
Warranty Deed
—
Sep 2, 2015
—
Kang Investments LLC
4850 Western LLC
Warranty 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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