Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Auto shops
8088 400th N Pierceton, IN 46562-9334
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US31-1324721
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2008
Construction
TYPE NOT SPECIFIED
Total area
13,728 SF
Lot
18.8 ac (818,928 SF)
Zoning code
COMME
APN
43-08-23-300-159.000-023
UPID
US31-1324721
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
$655k
Owner & transaction history
Morgedy LLC · 17 yrs held
Morgedy LLC
since 2008
2 recorded transactions
Zoning & alternative use
COMME · Pierceton, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Town of Pierceton: Council
Top alternative use upside
Apartment house (5+ units)
$1.1M
+25.2%
Medical building
$875,000
+3.0%
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 Pierceton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pierceton 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$850,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,060,000
Change: +25% · Conversion: Difficult
MEDICAL BUILDING
$875,000
Change: +3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$685,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$655k
Range $590k – $721k · ±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
$48 / 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
$9,337
Tax year 2023
Assessed value
$927,600
Assessed 2023
Previous assessed
$927,600
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$150,000
Assessed improvement
$777,600
Land market value
$150,000
Improvement market value
$777,600
Total market value
$927,600
Applied tax rate
23.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2008
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
13,728 SF
Lot
18.8 ac (818,928 SF)
Zoning code
COMME
APN
43-08-23-300-159.000-023
UPID
US31-1324721
Jurisdiction
KOSCIUSKO
Zoning & alternative use
COMME · Pierceton, INZoning COMME · permitted uses
COMME · Pierceton, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Town of Pierceton: Council
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$850,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$875,000
COMMERCIAL (GENERAL)
Est. value
$685,000
AUTO REPAIR, GARAGE Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
2008
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
18.8 ac
Current owner
From public records · entity-resolved
Morgedy LLC
Entity
Mailing address
8088 E 400TH N, PIERCETON, IN 46562-9334
Ownership since
2008
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
Oct 5, 2017
—
Morgedy LLC
—
Deed
related
$800,000 · Lake City Bank
Dec 1, 2008
—
Morgedy LLC
Brenspeed LLC
Quit Claim Deed
related
$1,000,000 · Mutual Bank Fsb
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 8088 400th N?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
