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Property profile & analytics
OFF-MARKET
Manufacturing properties
650 Market St, Spencer, IN 47460-1132
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-2103163
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1998
Construction
WOOD
Total area
18,825 SF
Lot
1.26 ac (54,886 SF)
APN
60-10-20-300-400.232-028
UPID
US31-2103163
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
by Request
Owner & transaction history
J&a Real Estate LLC · 2 yrs held
J&a Real Estate LLC
since 2024
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 Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spencer 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,710
Tax year 2023
Assessed value
$115,800
Assessed 2023
Previous assessed
$115,800
+0.0% YoY
Effective rate
2.34%
On assessed value
Assessed land
$15,100
Assessed improvement
$100,700
Land market value
$15,100
Improvement market value
$100,700
Total market value
$115,800
Applied tax rate
28.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1998
Construction
WOOD
Heating
NONE
Stories
1
Total area
18,825 SF
Lot
1.26 ac (54,886 SF)
APN
60-10-20-300-400.232-028
UPID
US31-2103163
Jurisdiction
OWEN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1998
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
J&a Real Estate LLC
Entity
Free & Clear · 2 yrs held
Mailing address
4288 FREEDOM RD, SPENCER, IN 47460-9004
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2024
—
J&a Real Estate LLC
—
Deed
related
$685,000 · The National Bank Of Indianapolis
Apr 23, 2024
—
J&a Real Estate LLC
Cheryl L Franklin
Correction Deed
related
—
Jul 25, 2022
—
Indiana Cast Stone Company
I&a Real Estate LLC
Lease
—
Jul 15, 2021
—
J&a Real Estate INC
Tri State Timber LLC
Warranty Deed
$229,800 · The National Bank Of Indianapolis
May 15, 2019
—
Tri State Timber LLC
—
Deed
related
$155,000 · Old National Bank
Sep 6, 2018
—
Finzer Indiana Real Estate LLC
Finzer Real Estate LLC
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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