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Property profile & analytics
OFF-MARKET
Estimated value
$1,245,000
Office Spaces
565 Tracy Rd Whiteland, IN 46184-9699
Entity Owned
1-yr Hold
Free & Clear
Property ID
US31-1270619
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1997
Construction
WOOD
Total area
7,692 SF
Lot
1.08 ac (47,045 SF)
Zoning code
4
APN
41-05-21-012-009.001-028
UPID
US31-1270619
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
-
Childtime of Whiteland Daycare Center
-
Learning Care Group Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.03M
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.25M
Owner & transaction history
Mullinix Road LLC · 1 yrs held
Mullinix Road LLC
since 2025
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
4 · Whiteland, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+43.7%
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 Whiteland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Whiteland 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
$1,165,000
ML approach
$1,030,000
CAP Approach
CAP Return
Estimation
6%
$1,325,000
6.5%
$1,225,000
7%
$1,135,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$750,000
Current use
RETAIL STORES
$1,080,000
Change: +44% · Conversion: Easy
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±10% · vs last sale $1.29M (Mar 13 2025)
Last sale anchor
$1.29M
Mar 13 2025
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
$162 / 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
$16,665
Tax year 2023
Assessed value
$720,300
Assessed 2023
Previous assessed
$720,300
+0.0% YoY
Effective rate
2.31%
On assessed value
Assessed land
$300,200
Assessed improvement
$420,100
Land market value
$300,200
Improvement market value
$420,100
Total market value
$720,300
Applied tax rate
28.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1997
Construction
WOOD
Heating
NONE
Stories
1
Total area
7,692 SF
Lot
1.08 ac (47,045 SF)
Zoning code
4
APN
41-05-21-012-009.001-028
UPID
US31-1270619
Jurisdiction
JOHNSON
Zoning & alternative use
4 · Whiteland, IN
Zoning 4 · permitted uses
4 · Whiteland, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Whiteland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$750,000
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1.08 ac
Current owner
From public records · entity-resolved
Mullinix Road LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 324, COLUMBUS, IN 47202-0324
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2025
—
Mullinix Road LLC
Rp Realty Of Columbus LLC
Quitclaim Deed
related
—
Aug 27, 2021
$1,285,000
Sidney L Blazek
Leeson Investment LLC
Quit Claim 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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