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Property profile & analytics
OFF-MARKET
Estimated value
$1,135,000
Industrial properties
621 1st St, Van Buren, IN 46991-9701
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US31-1954380
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2005
Construction
WOOD
Total area
12,135 SF
Lot
7.18 ac (312,761 SF)
APN
27-01-15-303-023.000-030
UPID
US31-1954380
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
$1.11M
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.14M
Owner & transaction history
L Korp LLC · 8 yrs held
L Korp LLC
since 2017
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+86.3%
Apartment house (5+ units)
$1.2M
+71.4%
Auto repair, garage
$860,000
+27.6%
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 Van Buren submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Van Buren 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%
$1,195,000
6.5%
$1,105,000
7%
$1,025,000
Alternative Use
Use
Estimation
RESTAURANT
$1,255,000
Change: +86% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,155,000
Change: +71% · Conversion: Difficult
AUTO REPAIR, GARAGE
$860,000
Change: +28% · Conversion: Easy
COMMERCIAL (GENERAL)
$850,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$780,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±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
$94 / 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
$14,526
Tax year 2023
Assessed value
$524,200
Assessed 2023
Previous assessed
$524,200
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$81,000
Assessed improvement
$443,200
Land market value
$81,000
Improvement market value
$443,200
Total market value
$524,200
Applied tax rate
17.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
2005
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
12,135 SF
Lot
7.18 ac (312,761 SF)
APN
27-01-15-303-023.000-030
UPID
US31-1954380
Jurisdiction
GRANT
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
RESTAURANT
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$860,000
COMMERCIAL (GENERAL)
Est. value
$850,000
RETAIL STORES
Est. value
$780,000
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2005
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
7.18 ac
Current owner
From public records · entity-resolved
L Korp LLC
Entity
Mailing address
PO BOX 318, VAN BUREN, IN 46991-0318
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2017
—
L Korp LLC
—
Deed
related
$350,000 · First Farmers Bank & Trust
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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