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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Warehouses
580 Tracy Rd Whiteland, IN 46184-9699
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-0687736
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Construction
TYPE NOT SPECIFIED
Total area
14,850 SF
Lot
2.05 ac (89,254 SF)
APN
41-05-16-043-050.002-027
UPID
US31-0687736
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
$1.64M
CAP Approach
CAP
$1.24M
Comparable Approach
Comparable
$981k
Blend (final)
Blend
$1.63M
Owner & transaction history
Merritt Commercial LLC · 3 yrs held
Merritt Commercial LLC
since 2023
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.1M
+50.1%
Commercial (general)
$1.5M
+4.4%
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
$1,610,000
ML approach
$1,640,000
CAP Approach
CAP Return
Estimation
6%
$1,345,000
6.5%
$1,240,000
7%
$1,150,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,385,000
Current use
RETAIL STORES
$2,080,000
Change: +50% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,450,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±10% · vs last sale $1.64M (May 24 2023)
Last sale anchor
$1.64M
May 24 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
$110 / 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
$9,001
Tax year 2023
Assessed value
$736,100
Assessed 2023
Previous assessed
$736,100
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$384,600
Assessed improvement
$351,500
Land market value
$384,600
Improvement market value
$351,500
Total market value
$736,100
Applied tax rate
27.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
14,850 SF
Lot
2.05 ac (89,254 SF)
APN
41-05-16-043-050.002-027
UPID
US31-0687736
Jurisdiction
JOHNSON
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
WAREHOUSE, STORAGE Current
Est. value
$1.4M
RETAIL STORES
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.5M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Merritt Commercial LLC
Entity
Mailing address
580 TRACY RD, NEW WHITELAND, IN 46184-9699
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2023
$1,636,250
Merritt Commercial LLC
Wf Industrial Properties Vii LLC
Special Warranty Deed
$1,280,000 · Jp Morgan Chase 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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