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Property profile & analytics
OFF-MARKET
Estimated value
$1,515,000
Medical Office Space
510 Smaltz Way Auburn, IN 46706-0612
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-2789816
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2021
Construction
TYPE NOT SPECIFIED
Total area
18,976 SF
Lot
4.13 ac (179,990 SF)
APN
17-05-36-200-006.000-012
UPID
US31-2789816
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
Current use
Occupant on record · Public records
-
Aubrey Brinneman Hawk, CNM Midwife
-
Leah VanderHorst, CMN Midwife
-
Lutheran Health Physicians - Family Medicine Auburn Pediatrician Physician
-
Kori Engdahl, WHNP-BC Midwife
-
Kaylee Casper, NP Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.52M
Owner & transaction history
Vasari Development LLC · 6 yrs held
Vasari Development LLC
since 2020
2 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 Auburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Auburn 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
RESTAURANT
$1,430,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,385,000
Change: 0% · Conversion: Easy
RETAIL STORES
$1,295,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,245,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,165,000
Change: 0% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,015,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$970,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.52M
Range $1.36M – $1.67M · ±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
$80 / 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
$113,295
Tax year 2023
Assessed value
$4,314,600
Assessed 2023
Previous assessed
$4,314,600
+0.0% YoY
Effective rate
2.63%
On assessed value
Assessed land
$927,200
Assessed improvement
$3,387,400
Land market value
$927,200
Improvement market value
$3,387,400
Total market value
$4,314,600
Applied tax rate
22.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2021
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
18,976 SF
Lot
4.13 ac (179,990 SF)
APN
17-05-36-200-006.000-012
UPID
US31-2789816
Jurisdiction
DE KALB
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
RESTAURANT
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$970,000
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
2021
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
4.13 ac
Current owner
From public records · entity-resolved
Vasari Development LLC
Entity
Mailing address
10050 BENT CRK BLVD, FORT WAYNE, IN 46825-0023
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2020
—
Vasari Development LLC
869 Development LLC
Deed
$575,000 · Lake City Bank
Aug 1, 2007
—
Sdi Properties LLC
8@69 Development L L C
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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