Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,645,000
Office Spaces
500 Main St Mitchell, IN 47446-1411
Entity Owned
5-yr Hold
Free & Clear
Property ID
US31-1770719
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2008
Construction
WOOD
Total area
21,744 SF
Lot
0.89 ac (38,904 SF)
APN
47-11-36-340-016.000-005
UPID
US31-1770719
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
by Request
Blend (final)
Blend
$1.65M
Owner & transaction history
Hoosier Uplands Holdings · 5 yrs held
Hoosier Uplands Holdings
since 2021
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+12.8%
Auto repair, garage
$2.1M
+6.5%
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 Mitchell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mitchell 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
COMMERCIAL (GENERAL)
$1,940,000
Current use
RESTAURANT
$2,185,000
Change: +13% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,065,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$1,940,000
Change: 0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,720,000
Change: -11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,590,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$1.65M
Range $1.48M – $1.81M · ±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
$76 / 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
$120
Tax year 2023
Assessed value
$1,756,500
Assessed 2023
Previous assessed
$1,756,500
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$98,900
Assessed improvement
$1,657,600
Land market value
$98,900
Improvement market value
$1,657,600
Total market value
$1,756,500
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
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2008
Construction
WOOD
Heating
NONE
Stories
1
Total area
21,744 SF
Lot
0.89 ac (38,904 SF)
APN
47-11-36-340-016.000-005
UPID
US31-1770719
Jurisdiction
LAWRENCE
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
COMMERCIAL (GENERAL) Current
Est. value
$1.9M
RESTAURANT
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (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
2008
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Hoosier Uplands Holdings
Entity
Free & Clear · 5 yrs held
Mailing address
500 W MAIN ST, MITCHELL, IN 47446-1411
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2021
—
Hoosier Uplands Holdings
Alonzo Smith
Warranty Deed
—
Sep 17, 2020
—
Hoosier Uplands Holdings
Mitchell City Of
Quit Claim Deed
related
—
Jul 17, 2020
—
Hoosier Uplands Holdings
Star Jones
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 500 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
