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Property profile & analytics
OFF-MARKET
Warehouses
500 Oakland Ave Nappanee, IN 46550-2327
Entity Owned
8-yr Hold
Free & Clear
Property ID
US31-2622537
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1954
Construction
WOOD
Total area
4,974 SF
Lot
1.23 ac (53,535 SF)
Zoning code
ZO01
APN
20-14-31-427-006.000-029
UPID
US31-2622537
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
by Request
Owner & transaction history
Air Investments LLC · 8 yrs held
Air Investments LLC
since 2017
4 recorded transactions
Zoning & alternative use
ZO01 · Nappanee, IN
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 Nappanee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nappanee 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,681
Tax year 2023
Assessed value
$163,800
Assessed 2023
Previous assessed
$163,800
+0.0% YoY
Effective rate
2.86%
On assessed value
Assessed land
$43,000
Assessed improvement
$120,800
Land market value
$43,000
Improvement market value
$120,800
Total market value
$163,800
Applied tax rate
29.0000
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1954
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
4,974 SF
Lot
1.23 ac (53,535 SF)
Zoning code
ZO01
APN
20-14-31-427-006.000-029
UPID
US31-2622537
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Nappanee, IN
Zoning ZO01 · permitted uses
ZO01 · Nappanee, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nappanee. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1954
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
Air Investments LLC
Entity
Free & Clear · 8 yrs held
Mailing address
350 S OAKLAND AVE, NAPPANEE, IN 46550-2322
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2017
—
Air Investments LLC
Air Investments LLC
Quit Claim Deed
related
—
Sep 28, 2017
—
Air Investments LLC
Lamars Holdings LLC
Warranty Deed
—
May 24, 2017
—
Lamars Holdings LLC
Ozinga Ready Mix Concrete INC
Grant Deed
—
Apr 2, 2015
—
Ozinga Ready Mix Concrete INC
Meyer Material Co LLC
Warranty Deed
related
—
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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