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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Industrial properties
615 Nelsons Pkwy, Wakarusa, IN 46573-9674
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US31-0204669
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2003
Construction
WOOD
Total area
10,080 SF
Lot
6 ac (261,404 SF)
Zoning code
ZO01
APN
20-09-36-401-004.000-025
UPID
US31-0204669
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
-
Discreet iV Medical Clinic
-
Tri-County Ambulance Service Ambulance Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$370k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$560k
Blend (final)
Blend
$550k
Owner & transaction history
Jtl Rental LLC · 16 yrs held
Jtl Rental LLC
since 2009
6 recorded transactions
Zoning & alternative use
ZO01 · Wakarusa, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$495,000
+38.6%
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 Wakarusa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wakarusa 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
$370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$355,000
Current use
COMMERCIAL (GENERAL)
$495,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$55 / 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
$14,866
Tax year 2023
Assessed value
$605,400
Assessed 2023
Previous assessed
$605,400
+0.0% YoY
Effective rate
2.46%
On assessed value
Assessed land
$101,000
Assessed improvement
$504,400
Land market value
$101,000
Improvement market value
$504,400
Total market value
$605,400
Applied tax rate
25.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2003
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
10,080 SF
Lot
6 ac (261,404 SF)
Zoning code
ZO01
APN
20-09-36-401-004.000-025
UPID
US31-0204669
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Wakarusa, IN
Zoning ZO01 · permitted uses
ZO01 · Wakarusa, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wakarusa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$355,000
COMMERCIAL (GENERAL)
Est. value
$495,000
INDUSTRIAL (GENERAL) Current
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
2003
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
6 ac
Current owner
From public records · entity-resolved
Jtl Rental LLC
Entity
Mailing address
615 NELSONS PKWY, WAKARUSA, IN 46573-9674
Ownership since
2009
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
Sep 15, 2020
—
Jtl Rental LLC
—
Deed
related
$129,128 · First Source Bk
Oct 27, 2009
—
Jtl Rental LLC
Barr Family LLC
Warranty Deed
$226,172 · National City Bank
—
—
Jtl Rental LLC
—
Deed Of Trust
related
$219,500 · Mutual Bank
—
—
Jtl Rental LLC
—
Deed Of Trust
related
$215,000 · First Source Bk
—
—
Jtl Rental LLC
—
Deed Of Trust
related
—
—
—
Jtl Rental LLC
—
Loan Modification
related
$129,128 · First Source Bk
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.
Try Rey
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