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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Industrial properties
Michigan Blvd Michigan City, IN 46360
Entity Owned
9-yr Hold
Free & Clear
Property ID
US31-3216668
Property profile
Verified
Property type
Industrial properties
Use group
HEAVY INDUSTRIAL
Year built
2021
Construction
TYPE NOT SPECIFIED
Total area
16,980 SF
Lot
17.24 ac (750,800 SF)
APN
46-01-36-301-005.000-022
UPID
US31-3216668
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
$560k
CAP Approach
CAP
$995k
Comparable Approach
Comparable
$767k
Blend (final)
Blend
$775k
Owner & transaction history
Center Lane Investments LLC · 9 yrs held
Center Lane Investments LLC
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+196.9%
Retail stores
$1.2M
+181.6%
Commercial (general)
$1.1M
+153.1%
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 Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City 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
$560,000
CAP Approach
CAP Return
Estimation
6%
$1,075,000
6.5%
$995,000
7%
$925,000
Alternative Use
Use
Estimation
RESTAURANT
$1,265,000
Change: +197% · Conversion: Difficult
RETAIL STORES
$1,200,000
Change: +182% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,080,000
Change: +153% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,030,000
Change: +142% · Conversion: Difficult
MEDICAL BUILDING
$910,000
Change: +113% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$595,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$775k
Range $698k – $853k · ±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
$46 / 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
$32,580
Tax year 2023
Assessed value
$1,086,000
Assessed 2023
Previous assessed
$1,086,000
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$211,400
Assessed improvement
$874,600
Land market value
$211,400
Improvement market value
$874,600
Total market value
$1,086,000
Applied tax rate
42.0000
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
Industrial properties
Use group
HEAVY INDUSTRIAL
Status
Off-Market
Year built
2021
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
16,980 SF
Lot
17.24 ac (750,800 SF)
APN
46-01-36-301-005.000-022
UPID
US31-3216668
Jurisdiction
LA PORTE
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
RESTAURANT
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$910,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$595,000
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2021
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
17.24 ac
Current owner
From public records · entity-resolved
Center Lane Investments LLC
Entity
Free & Clear · 9 yrs held
Mailing address
27275 MOUND RD, WARREN, MI 48092-4554
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2025
—
Center Lane Investments LLC
—
Deed
related
$8,500,000 · Cibc Bank USA
Jul 30, 2020
—
Center Lane Investments LLC
—
Deed
related
$9,905,080 · Huntington National Bank
May 18, 2017
—
Center Lane Investments LLC
Oehmstead Company LLC
Warranty Deed
—
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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