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    Property profile & analytics

    485 Michigan St New Carlisle, IN 46552-9777

    • Grocery and convenience stores
    • 22,720 SF
    • 9.03 lot acres
    OFF-MARKET
    Value Estimation
    $700,000
    Location Intelligence
    Property ID
    US31-2148258
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Groceries By Joe / Grocery Store

    Property Details for 485 Michigan St

    Year built
    2009
    Construction
    TYPE NOT SPECIFIED
    Lot size
    9.03 lot acres
    Property size
    22,720 SF
    Property type
    Grocery and convenience stores
    APN
    71-01-26-300-005.000-018
    APU
    710126300005000018

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $655,000

    • CAP approach

      CAP return
      Estimation
      6%
      $795,000
      6.5%
      $875,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $945,000
      Geo Method
      $875,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $940,000
      Retail
      $730,000
      Mixed-Use
      $925,000
      Hospitality
      $945,000
      Educational
      $705,000
      Residential Income
      $880,000
      Energy
      $860,000
      Income-Based Land
      $910,000
      Food Service
      $760,000

    Location Insight

    • Map
    • Local Demand
    City
    New Carlisle
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.4989
    Latitude
    41.7093
    CBSA code
    43780
    CBSA name
    SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $38,591
    $846,200
    $336,900
    $1,183,100
    -
    $846,200
    $336,900
    $1,183,100

    Comparable in this City

    • Value Estimation by Request
      10,296 SF

      8989 Us-20

      Individual retail properties • 10,296 SF
      8989 Us-20, New Carlisle, IN 46552
      View Details
    • Value Estimation
      $345,000
      4,668 SF

      830 Michigan St

      CONVENIENCE STORE • 4,668 SF
      830 Michigan St, New Carlisle, IN 46552
      View Details
    • Value Estimation
      $325,000
      1,920 SF

      8693 Us Hwy 20

      CONVENIENCE STORE • 1,920 SF
      8693 Us Hwy 20, New Carlisle, IN 46552-9004
      View Details
    • Value Estimation by Request
      1,776 SF

      106 Filbert St

      RETAIL STORES (PERSONAL SERVICES) • 1,776 SF
      106 Filbert St, New Carlisle, IN 46552
      View Details
    • Value Estimation by Request
      880 SF

      119 Michigan St

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      119 Michigan St, New Carlisle, IN 46552
      View Details
    • Value Estimation by Request
      5,024 SF

      55969 Tulip Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,024 SF
      55969 Tulip Rd, New Carlisle, IN 46552-9769
      View Details

    Similar Nearby for Sale

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      Former bank building in downtown New Carlisle with drive-thru.
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      View Details
    • $270,000
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      Hardware Store in Historic Downtown

      Established hardware store with retail space and rental apartment.
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      New Carlisle Restaurant - $1.3M

      Established Restaurant, Ample Parking, Extra Lot Included
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    • $79,000
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      Build your dream home on this secluded 2-acre lot.
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    485 Michigan St
    New Carlisle, IN 46552-9777
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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