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Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Warehouses
705 School St Anderson, IN 46012-1461
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US31-0505130
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1960
Construction
WOOD
Total area
15,860 SF
Lot
49.24 ac (2,144,894 SF)
APN
48-07-31-300-026.000-029
UPID
US31-0505130
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
-
Drews Parts Building Supply Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.13M
Owner & transaction history
Drews Parts LLC · 13 yrs held
Drews Parts LLC
since 2012
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.5M
+110.8%
Retail stores
$1.4M
+98.4%
Medical building
$1.1M
+54.8%
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 Anderson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Anderson 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%
$1,325,000
6.5%
$1,225,000
7%
$1,135,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$725,000
Current use
RESTAURANT
$1,525,000
Change: +111% · Conversion: Difficult
RETAIL STORES
$1,435,000
Change: +98% · Conversion: Moderate
MEDICAL BUILDING
$1,120,000
Change: +55% · Conversion: Difficult
COMMERCIAL (GENERAL)
$995,000
Change: +38% · Conversion: Difficult
AUTO REPAIR, GARAGE
$885,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±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
$71 / 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
$14,822
Tax year 2023
Assessed value
$509,100
Assessed 2023
Previous assessed
$509,100
+0.0% YoY
Effective rate
2.91%
On assessed value
Assessed land
$184,900
Assessed improvement
$324,200
Land market value
$184,900
Improvement market value
$324,200
Total market value
$509,100
Applied tax rate
13.0000
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
1960
Construction
WOOD
Heating
NONE
Buildings
7
Stories
1
Total area
15,860 SF
Lot
49.24 ac (2,144,894 SF)
APN
48-07-31-300-026.000-029
UPID
US31-0505130
Jurisdiction
MADISON
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
$725,000
RESTAURANT
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$995,000
AUTO REPAIR, GARAGE
Est. value
$885,000
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1960
Construction
WOOD
Heating
NONE
Stories
1
Buildings
7
Lot
49.24 ac
Current owner
From public records · entity-resolved
Drews Parts LLC
Entity
Mailing address
705 E SCHOOL ST, ANDERSON, IN 46012-1461
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2026
—
Drews Parts INC
—
Deed
related
$400,000 · Vista National Bank & Trust
Sep 12, 2012
$280,000
Drews Parts LLC
Kat Holdings LLC
Warranty Deed
$280,000 · Triple S Tire INC
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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