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    Illinois St Carmel, IN 46032

    Sponsored
    For Sale
    $3,523,000

    5.42 Acres Office Land in Carmel, IN

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 5.42-acre parcel, located in Carmel, Indiana, presents a prime development opportunity. Situated on the Carmel Meridian Corridor (US 31), this PUD-zoned land offers unparalleled visibility and accessibility. Part of a larger 26-acre master-planned mixed-use project, the site boasts prominent frontage on US 31, benefiting from high traffic counts of 55,827 vehicles per day. Approved for a three-story building up to 60,000 square feet, this fully entitled site includes existing onsite detention. Two convenient access points from US 31 (131st and 136th Streets) ensure easy ingress and egress, while its proximity to I-465 provides excellent regional connectivity. The location within the Meridian Corridor, home to over 40 corporate headquarters and a significant medical presence, guarantees a strong market for this development. The Hamilton County address (APN: 29-09-26-015-033.000-018) and zip code 46032 further solidify its strategic position in this thriving Indiana community. This is an exceptional opportunity to build in a high-demand area with strong corporate and medical anchors. The asking price is $3,523,000.

    Property Features for 0 Illinois St

    General Information

    Property type
    Land
    Lot Size
    236,095 SF

    HighLights

    • Approved for a 60,000 SF, three‑story building.
    • Two access points from US 31 at 131st and 136th Streets.
    • Easy I‑465 access.
    • PUD zoning allows for various uses.
    • High visibility from US 31/Meridian Street.
    • Fully entitled site with existing onsite detention.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1623517
    Latitude
    39.9594107

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    FAQs

    What type of property is this?
    Land - 5.42 Acres Office Land in Carmel, IN
    Where is this land located?
    The property is located at Illinois St Carmel, IN.
    What is the asking price?
    The asking price for this property is $3,523,000.
    What are key features of this property?
    This property features: Approved for a 60,000 SF, three-story building.; Two access points from US 31 at 131st and 136th Streets.; Easy I-465 access.
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    Illinois St Carmel, IN 46032
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Illinois St Carmel, IN 46032
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