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Property profile & analytics
OFF-MARKET
Estimated value
$1,525,000
Grocery and convenience stores
5602 Illinois St Indianapolis, IN 46208-1519
Entity Owned
13-yr Hold
Free & Clear
Property ID
US31-1038259
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1953
Construction
WOOD
Total area
11,858 SF
Lot
0.55 ac (23,819 SF)
APN
49-06-02-113-003.000-801
UPID
US31-1038259
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
-
Bike Parking Bicycle Rack
-
Safeway Specialty Food Shop Supermarket
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.97M
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$1.53M
Owner & transaction history
Mjw I LLC · 13 yrs held
Mjw I LLC
since 2012
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.5M
+178.9%
Auto repair, garage
$945,000
+6.6%
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 Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis 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%
$2,125,000
6.5%
$1,965,000
7%
$1,825,000
Alternative Use
Use
Estimation
RESTAURANT
$2,470,000
Change: +179% · Conversion: Easy
AUTO REPAIR, GARAGE
$945,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$1.53M
Range $1.37M – $1.68M · ±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
$129 / 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
$14,500
Tax year 2023
Assessed value
$529,900
Assessed 2023
Previous assessed
$529,900
+0.0% YoY
Effective rate
2.74%
On assessed value
Assessed land
$209,600
Assessed improvement
$320,300
Land market value
$209,600
Improvement market value
$320,300
Total market value
$529,900
Applied tax rate
801.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1953
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
11,858 SF
Lot
0.55 ac (23,819 SF)
APN
49-06-02-113-003.000-801
UPID
US31-1038259
Jurisdiction
MARION
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
$2.5M
AUTO REPAIR, GARAGE
Est. value
$945,000
RESTAURANT
AUTO REPAIR, GARAGE
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
1953
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
Mjw I LLC
Entity
Free & Clear · 13 yrs held
Mailing address
1250 NEWELL AVE #200, WALNUT CREEK, CA 94596-5380
Ownership since
2012
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
Aug 2, 2017
—
Mjw III LLC
—
Grant Deed
related
$6,562,500 · Wells Fargo Bk
Sep 18, 2012
—
Mjw I LLC
Mjw I LLC
Quit Claim Deed
related
—
—
—
Mjw III LLC
—
Deed Of Trust
related
$4,900,000 · General Electric Capital Corp
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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