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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Auto shops
5906 Michigan Blvd Michigan City, IN 46360
Entity Owned
8-yr Hold
Free & Clear
Property ID
US31-2160032
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1975
Construction
WOOD
Total area
8,414 SF
Lot
20.59 ac (896,726 SF)
APN
46-06-06-251-004.000-062
UPID
US31-2160032
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$510k
Owner & transaction history
J & C Brothers LLC · 8 yrs held
J & C Brothers LLC
since 2017
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City 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
AUTO REPAIR, GARAGE
$670,000
Current use
RESTAURANT
$625,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$595,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$61 / 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
$6,211
Tax year 2023
Assessed value
$345,000
Assessed 2023
Previous assessed
$345,000
+0.0% YoY
Effective rate
1.80%
On assessed value
Assessed land
$265,000
Assessed improvement
$80,000
Land market value
$265,000
Improvement market value
$80,000
Total market value
$345,000
Applied tax rate
65.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1975
Construction
WOOD
Heating
NONE
Stories
1
Total area
8,414 SF
Lot
20.59 ac (896,726 SF)
APN
46-06-06-251-004.000-062
UPID
US31-2160032
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
AUTO REPAIR, GARAGE Current
Est. value
$670,000
RESTAURANT
Est. value
$625,000
RETAIL STORES
Est. value
$595,000
AUTO REPAIR, GARAGE Current
RESTAURANT
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
1975
Construction
WOOD
Heating
NONE
Stories
1
Lot
20.59 ac
Current owner
From public records · entity-resolved
J & C Brothers LLC
Entity
Free & Clear · 8 yrs held
Mailing address
970 W PERSHING RD, CHICAGO, IL 60609-1424
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2017
—
J & C Brothers LLC
Carole D Loniewski Revocable Living
Warranty Deed
—
Aug 4, 2017
$800,000
Carole F Loniewski Revocable Living
Carole F Loniewski
Quit Claim Deed
related
—
Jul 21, 2017
—
Carole F Loniewski
Carole F Loniewski
Quit Claim Deed
related
—
Jul 13, 2017
—
Carole F Loniewski
Richard F Loniewski
Quit Claim Deed
related
—
Jan 17, 2012
—
Richard F Loniewski
Richard F Loniewski
Intrafamily Transfer
related
—
Jun 20, 2005
—
Wilma M Loniewski
Wilma M Loniewski
Intrafamily Transfer
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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