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Property profile & analytics
OFF-MARKET
Estimated value
$9,600,000
Warehouses
12202 Hancock St Carmel, IN 46032-5805
Individually Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0851829
Property summary
AI-generated overview
This Hamilton County, Indiana warehouse offers exceptional space for lease within the Carmel Tech Center. The property, located at 12202-12292 Hancock Street, Carmel, IN 46032, boasts a total of 76,735 square feet, with minimum divisible space of 7,062 square feet. Suites feature ceiling heights ranging from 14 to 18 feet, providing ample vertical storage. Multiple suites are available, each offering a unique combination of features. Some suites include 8' x 10' drive-in doors, while others offer loading docks. Power specifications vary by suite, with options including 120/208 volt, 200 amp, 3-phase power. Amenities such as utility sinks, private offices, open areas suitable for offices, cubicles, or showrooms, conference rooms, and breakrooms with kitchenettes are available in various configurations. Many suites benefit from abundant natural light through strategically placed windows. The property enjoys convenient access to US-31 and I-465, offering excellent logistical advantages. Potential for air-conditioned warehouse space exists in select suites. Lease rates start at $14 per square foot, modified gross. Contact us today to discuss your specific needs and available suite options.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1988
Construction
TYPE NOT SPECIFIED
Total area
76,126 SF
Lot
5.73 ac (249,599 SF)
APN
29-09-35-002-008.000-018
UPID
US31-0851829
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
-
intelli-building Control & Solutions LLC HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.37M
Comparable Approach
Comparable
$9.81M
Blend (final)
Blend
$9.60M
Owner & transaction history
Hendricks Commercial · 11 yrs held
Hendricks Commercial
since 2014
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Carmel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carmel 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%
$10,150,000
6.5%
$9,370,000
7%
$8,700,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$10,980,000
Current use
Blend value · Realmo final
$9.60M
Range $8.64M – $10.56M · ±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
$126 / 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
$80,900
Tax year 2023
Assessed value
$4,009,200
Assessed 2023
Previous assessed
$4,009,200
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,432,500
Assessed improvement
$2,576,700
Land market value
$1,432,500
Improvement market value
$2,576,700
Total market value
$4,009,200
Applied tax rate
18.0000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1988
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
76,126 SF
Lot
5.73 ac (249,599 SF)
APN
29-09-35-002-008.000-018
UPID
US31-0851829
Jurisdiction
HAMILTON
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
$11.0M
WAREHOUSE, STORAGE Current
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
1988
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
5.73 ac
Current owner
From public records · entity-resolved
Hendricks Commercial
Individual
Free & Clear · 11 yrs held
Mailing address
525 3RD ST STE #300, BELOIT, WI 53511-6225
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
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
Jun 13, 2025
—
Ocp Carmel LLC
—
Deed
related
$18,600,000 · Alliant Cu
Dec 31, 2014
—
Hendricks Commercial
Atapco Carmel INC
Grant 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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