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Property profile & analytics
OFF-MARKET
Estimated value
$24,520,000
Warehouses
5828 Commerce Dr Whitestown, IN 46075-0080
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-0458179
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2019
Construction
CONCRETE
Total area
408,804 SF
Lot
21.83 ac (950,915 SF)
Zoning code
ZO01
APN
06-03-01-000-044.000-020
UPID
US31-0458179
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
$24.52M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$24.52M
Owner & transaction history
Commerce Whitestown LLC · 2 yrs held
Commerce Whitestown LLC
since 2024
Last sale
$24.5M
2 recorded transactions
Zoning & alternative use
ZO01 · Whitestown, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$38.4M
+660.0%
Auto repair, garage
$35.7M
+607.1%
Retail stores
$25.2M
+398.3%
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 Whitestown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Whitestown 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
$24,520,000
ML approach
$24,520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$38,400,000
Change: +660% · Conversion: Difficult
AUTO REPAIR, GARAGE
$35,730,000
Change: +607% · Conversion: Easy
RETAIL STORES
$25,180,000
Change: +398% · Conversion: Moderate
MEDICAL BUILDING
$22,515,000
Change: +346% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$20,505,000
Change: +306% · Conversion: Easy
Blend value · Realmo final
$24.52M
Range $22.07M – $26.97M · ±10% · vs last sale $24.52M (Jan 10 2024)
Last sale anchor
$24.52M
Jan 10 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
$60 / 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
$183,599
Tax year 2023
Assessed value
$18,185,800
Assessed 2023
Previous assessed
$18,185,800
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$962,700
Assessed improvement
$17,223,100
Land market value
$962,700
Improvement market value
$17,223,100
Total market value
$18,185,800
Applied tax rate
20.0000
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
2019
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
408,804 SF
Lot
21.83 ac (950,915 SF)
Zoning code
ZO01
APN
06-03-01-000-044.000-020
UPID
US31-0458179
Jurisdiction
BOONE
Zoning & alternative use
ZO01 · Whitestown, INZoning ZO01 · permitted uses
ZO01 · Whitestown, IN
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
COMMERCIAL (GENERAL)
Est. value
$38.4M
AUTO REPAIR, GARAGE
Est. value
$35.7M
RETAIL STORES
Est. value
$25.2M
MEDICAL BUILDING
Est. value
$22.5M
INDUSTRIAL (GENERAL)
Est. value
$20.5M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
INDUSTRIAL (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
2019
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
21.83 ac
Current owner
From public records · entity-resolved
Commerce Whitestown LLC
Entity
Mailing address
53 W JACKSON BLVD STE #530, CHICAGO, IL 60604-3422
Ownership since
2024
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
Jan 10, 2024
—
Commerce Whitestown LLC
Lord Realty Holdings LLC
Special Warranty Deed
$11,000,000 · American United Life Ins Co
Jan 10, 2024
$24,522,122
Commerce Whitestown LLC
Lord Realty Holdings LLC
Special Warranty Deed
$11,000,000 · American United Life Ins Co
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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