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Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Office Spaces
8988 Ruffian Ln Newburgh, IN 47630-3406
Individually Owned
5-yr Hold
Free & Clear
Property ID
US31-1693639
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1994
Construction
WOOD
Total area
6,681 SF
Lot
0.78 ac (33,977 SF)
APN
87-12-27-101-001.000-019
UPID
US31-1693639
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
-
Advantage Tax & Accounting Tax Preparation
-
Craft Tax Services Tax Preparation
-
Shoemaker Financial Newburgh Financial Advisor
-
ACE Tax Services Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$890k
CAP Approach
CAP
$450k
Comparable Approach
Comparable
$699k
Blend (final)
Blend
$730k
Owner & transaction history
Cleo Holder · 5 yrs held
Cleo Holder
since 2020
Last sale
$710,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$680,000
+34.3%
Retail stores
$615,000
+22.0%
Restaurant
$610,000
+20.5%
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 Newburgh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newburgh 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
$935,000
ML approach
$890,000
CAP Approach
CAP Return
Estimation
6%
$490,000
6.5%
$450,000
7%
$420,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$505,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$680,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$615,000
Change: +22% · Conversion: Easy
RESTAURANT
$610,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$730k
Range $657k – $803k · ±10% · vs last sale $710k (Nov 4 2020)
Last sale anchor
$710k
Nov 4 2020
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
$109 / 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
$11,777
Tax year 2023
Assessed value
$791,600
Assessed 2023
Previous assessed
$791,600
+0.0% YoY
Effective rate
1.49%
On assessed value
Assessed land
$240,900
Assessed improvement
$550,700
Land market value
$240,900
Improvement market value
$550,700
Total market value
$791,600
Applied tax rate
19.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1994
Construction
WOOD
Heating
NONE
Stories
1
Total area
6,681 SF
Lot
0.78 ac (33,977 SF)
APN
87-12-27-101-001.000-019
UPID
US31-1693639
Jurisdiction
WARRICK
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
COMMERCIAL (GENERAL) Current
Est. value
$505,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$680,000
RETAIL STORES
Est. value
$615,000
RESTAURANT
Est. value
$610,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
RESTAURANT
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
1994
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.78 ac
Current owner
From public records · entity-resolved
Cleo Holder
Individual
Free & Clear · 5 yrs held
Mailing address
PO BOX 1177, NEWBURGH, IN 47629-1177
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2020
$710,000
Cleo Holder
A Joseph Salpietra
Warranty Deed
—
Nov 4, 2020
—
Holder Properties LLC
Cleo Holder
Intrafamily Transfer
related
$680,000 · Field & Main Bank
Feb 2, 2017
—
A Joseph Salpietra
—
Deed
related
$320,000 · Field & Main Bank
Oct 19, 2016
—
A Joseph Salpietra
—
Deed
related
$75,000 · First Security Bank
Feb 17, 2009
—
A Joseph Salpietra
Star Mortgage INC
Quit Claim Deed
related
—
Oct 16, 2008
—
Star Mortgage INC
Joseph Salpietra
Quit Claim Deed
related
—
Apr 13, 2007
—
A Joseph Salpietra
Star Mortgage INC
Quit Claim Deed
related
$495,000 · United Fidelity 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.
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