Entity Owned Property summary
AI-generated overview
This exceptional mixed-use property, located at 728 E Main St in Richmond, Indiana (zip code 47374), presents a prime investment opportunity. The historic building offers a substantial 21,766 square feet of space, spread across five stories. Its versatile configuration includes spaces suitable for bank operations, storefront retail, and traditional office uses. Currently vacant, this building offers a blank canvas for a variety of redevelopment projects. The asking price is $999,000, translating to $45.90 per square foot. On-site parking is available for 27 vehicles. The property's location in downtown Richmond, within Wayne County, Indiana, provides excellent visibility and accessibility. This significant structure may qualify for matching grants or other potential funding opportunities, further enhancing its investment appeal. The building's rich history and prime location combine to create a unique and potentially lucrative investment prospect. Serious inquiries are encouraged to explore the full potential of this remarkable property.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1910
Construction
TYPE NOT SPECIFIED
Total area
21,766 SF
Lot
0.09 ac (4,008 SF)
APN
89-16-32-440-615.000-030
UPID
US31-1493955
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$640k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$393k
Blend (final)
Blend
$560k
Owner & transaction history
since 2025
2 recorded transactions
Zoning & alternative use
Top alternative use upside
Retail stores
$955,000
+20.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$560k
Value range
$504k – $616k
±10% around blend
Estimated value / SF
$26 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
$504k
blend $560k
$616k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
21,766 SF
Lot area
0.09 ac
Year built
1910
Stories
6
APN
89-16-32-440-615.000-030
Assessed value
$328,200
Annual tax
$27,180
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$393k
Range $253k – $1.69M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$560k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 34 sales
$36
-29%
Submarket 34 sales
$36
-29%
County 41 sales
$40
-36%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $26/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+21%
vs current-use indication
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$328k
Move the market yield to see immediate price impact.
Value / SF
$15
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$21k
$414k
$295k
$230k
$23k
$459k
$328k
$255k
$25k
$505k
$361k
$281k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$27,180
Tax year 2022
Assessed value
$328,200
Assessed 2023
Previous assessed
$328,200
+0.0% YoY
Effective rate
8.28%
On assessed value
Assessed land
$9,800
Assessed improvement
$318,400
Land market value
$9,800
Improvement market value
$318,400
Total market value
$328,200
Applied tax rate
29.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1910
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
6
Total area
21,766 SF
Lot
0.09 ac (4,008 SF)
APN
89-16-32-440-615.000-030
UPID
US31-1493955
Jurisdiction
WAYNE
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
6
Lot
0.09 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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