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Property profile & analytics
FOR SALE
Retail space
5340 S Old State Road 37 Bloomington, IN 47401
Individually Owned
Free & Clear
Property ID
US31-1222798
For Sale
1 / 6
$875,000
5340 S Old State Road 37, Bloomington, IN 47401
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Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Construction
WOOD
Total area
3,600 SF
Lot
0.37 ac (16,117 SF)
APN
53-08-21-301-056.000-008
UPID
US31-1222798
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
$700k
CAP Approach
CAP
$745k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$700k
Owner & transaction history
Lyander Honeycutt
Lyander Honeycutt
since 2025
Last sale
$700,000
3 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 Bloomington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bloomington 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
$700,000
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$745,000
7%
$690,000
Alternative Use
Use
Estimation
RETAIL STORES
$545,000
Current use
COMMERCIAL (GENERAL)
$465,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $700k (Aug 8 2024)
Last sale anchor
$700k
Aug 8 2024
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
$194 / 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
$2,516
Tax year 2023
Assessed value
$157,600
Assessed 2023
Previous assessed
$157,600
+0.0% YoY
Effective rate
1.60%
On assessed value
Assessed land
$33,700
Assessed improvement
$123,900
Land market value
$33,700
Improvement market value
$123,900
Total market value
$157,600
Applied tax rate
8.0000
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
For Sale
Year built
1997
Construction
WOOD
Heating
NONE
Stories
1
Total area
3,600 SF
Lot
0.37 ac (16,117 SF)
APN
53-08-21-301-056.000-008
UPID
US31-1222798
Jurisdiction
MONROE
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
RETAIL STORES Current
Est. value
$545,000
COMMERCIAL (GENERAL)
Est. value
$465,000
RETAIL STORES Current
COMMERCIAL (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
1997
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
Lyander Honeycutt
Individual
Free & Clear · 0 yrs held
Mailing address
8170 E BURGOON CHURCH RD, BLOOMINGTON, IN 47401-9124
Ownership since
2025
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
Jul 21, 2025
—
Lyander Honeycutt
Richard D Ratts
Warranty Deed
—
Aug 8, 2024
$700,000
Lyander Honeycutt
Richard Ratts- Trust
Contract Sale
—
Dec 28, 2012
—
Revocable Trust Agreement Of Richar
Richard D Ratts
Intrafamily Transfer
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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