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Property profile & analytics
OFF-MARKET
Retail space
51505 State Rd 19 Elkhart, IN 46514-5814
Entity Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1127218
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1954
Construction
WOOD
Total area
3,720 SF
Lot
0.21 ac (9,148 SF)
Zoning code
ZO01
APN
20-02-17-401-009.000-026
UPID
US31-1127218
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
Pun Properties LLC · 21 yrs held
Pun Properties LLC
since 2004
6 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, 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 Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart 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
$1,892
Tax year 2023
Assessed value
$114,700
Assessed 2023
Previous assessed
$114,700
+0.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$56,700
Assessed improvement
$58,000
Land market value
$56,700
Improvement market value
$58,000
Total market value
$114,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1954
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
3,720 SF
Lot
0.21 ac (9,148 SF)
Zoning code
ZO01
APN
20-02-17-401-009.000-026
UPID
US31-1127218
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, IN
Zoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkhart. 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
0.21 ac
Current owner
From public records · entity-resolved
Pun Properties LLC
Entity
Mailing address
129 15TH MILE RD NW, SPARTA, MI 49345-8590
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
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
Nov 5, 2014
—
Pun Properties LLC
—
Trustees Deed
related
$300,000 · Fifth Third Bk
Jan 24, 2007
—
Pun Properties LLC
—
Trustees Deed
related
$800,000 · Fifth Third Bank
Nov 1, 2004
—
Pun Properties LLC
Westlake,jacqueline J
Warranty Deed
$90,000 · Jacqueline J Westlake
—
—
Pun Properties LLC
—
Deed Of Trust
related
$90,000 · Fifth Third Bank
—
—
Pun Properties LLC
—
Loan Modification
related
$500,000 · Fifth Third Bk
—
—
Pun Properties LLC
—
Loan Modification
related
$800,000 · Fifth Third Bk
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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