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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Warehouses
5885 800th E New Carlisle, IN 46552-9019
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-1751602
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
2014
Construction
WOOD
Total area
12,108 SF
Lot
6.93 ac (301,871 SF)
APN
46-08-04-100-014.000-068
UPID
US31-1751602
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
-
NSR Electric Electrical Service General Contractor
-
K-Fex Inc. Plumbing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$644k
Blend (final)
Blend
$605k
Owner & transaction history
Mlk Farms LLC · 1 yrs held
Mlk Farms LLC
since 2024
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$880,000
+47.2%
Auto repair, garage
$805,000
+34.8%
Apartment house (5+ units)
$785,000
+30.7%
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 New Carlisle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Carlisle 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$600,000
Current use
RESTAURANT
$880,000
Change: +47% · Conversion: Difficult
AUTO REPAIR, GARAGE
$805,000
Change: +35% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$785,000
Change: +31% · Conversion: Difficult
MEDICAL BUILDING
$695,000
Change: +16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$495,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$50 / 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
$7,561
Tax year 2023
Assessed value
$362,400
Assessed 2023
Previous assessed
$362,400
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$47,900
Assessed improvement
$314,500
Land market value
$47,900
Improvement market value
$314,500
Total market value
$362,400
Applied tax rate
68.0000
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
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
2014
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Rooms
5
Bathrooms
4
Total area
12,108 SF
Lot
6.93 ac (301,871 SF)
APN
46-08-04-100-014.000-068
UPID
US31-1751602
Jurisdiction
LA PORTE
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
$600,000
RESTAURANT
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$805,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$785,000
MEDICAL BUILDING
Est. value
$695,000
INDUSTRIAL (GENERAL)
Est. value
$495,000
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2014
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
4
Lot
6.93 ac
Current owner
From public records · entity-resolved
Mlk Farms LLC
Entity
Mailing address
5885 N 800TH E, NEW CARLISLE, IN 46552-9019
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2024
—
Mlk Farms LLC
Kelley Property Investments LLC
Warranty Deed
—
Oct 24, 2014
—
Micheal L Kelley
Micheal L Kelley
Intrafamily Transfer
related
—
Mar 12, 2007
—
Kelley Rentals LLC
Michael L Kelley
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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