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Property profile & analytics
OFF-MARKET
Estimated value
$2,750,000
Retail space
550 College Ave Rensselaer, IN 47978-3007
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-2205435
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Construction
TYPE NOT SPECIFIED
Total area
14,880 SF
Lot
1.29 ac (56,105 SF)
Zoning code
BUFF
APN
37-07-30-000-005.005-027
UPID
US31-2205435
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
-
Walgreens Pharmacy Pharmacy
-
Randy W. Raff, RPh Pharmacy
-
Jeffrey D'angelo, RPH Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$2.75M
Owner & transaction history
Regency Csp IV LLC · 2 yrs held
Regency Csp IV LLC
since 2023
Last sale
$2.7M
6 recorded transactions
Zoning & alternative use
BUFF · Rensselaer, 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 Rensselaer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rensselaer 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
$2,865,000
ML approach
$2,780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.75M
Range $2.48M – $3.03M · ±10% · vs last sale $2.68M (Sep 12 2023)
Last sale anchor
$2.68M
Sep 12 2023
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
$185 / 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
$22,349
Tax year 2023
Assessed value
$1,829,900
Assessed 2023
Previous assessed
$1,829,900
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$324,500
Assessed improvement
$1,505,400
Land market value
$324,500
Improvement market value
$1,505,400
Total market value
$1,829,900
Applied tax rate
18.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2001
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
14,880 SF
Lot
1.29 ac (56,105 SF)
Zoning code
BUFF
APN
37-07-30-000-005.005-027
UPID
US31-2205435
Jurisdiction
JASPER
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
BUFF · Rensselaer, IN
Zoning BUFF · permitted uses
BUFF · Rensselaer, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rensselaer. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2001
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.29 ac
Current owner
From public records · entity-resolved
Regency Csp IV LLC
Entity
Mailing address
380 N CROSS POINTE BLVD, EVANSVILLE, IN 47715-4027
Ownership since
2023
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
Sep 12, 2023
—
Regency Csp IV LLC
Regency Northern Indiana LLC
Intrafamily Transfer
related
$53,000,000 · Bank Of Montreal
Apr 3, 2018
$26,000
Regency Rensselaer Outlot LLC
R2c Crown Point LLC
Warranty Deed
—
Mar 15, 2018
$2,679,350
Regency Northern Indiana LLC
Rms Crown Point LLC
Warranty Deed
—
Mar 15, 2018
—
Rms Crown Point LLC
R2c Crown Point LLC
Correction Deed
related
—
May 14, 2015
—
Rms Crown Point LLC
R2c Crown Point LLC
Special Warranty Deed
—
Aug 15, 2012
—
R2c Crown Point LLC
Hbi Renselaer LLC
Warranty Deed
$2,290,000 · Centier Bank
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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