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    10537 Washington St Indianapolis, IN 46229
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    Property profile & analytics

    10537 Washington St, Indianapolis, IN 46229

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    • Retail properties & Spaces
    • 30,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Papa John's Pizza / Restaurant
    • Stoner Kathy / Dental Office
    • Eastside Family Dentistry / Dental Office
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Ebenezer Bakery / Bakery / Specialty Food Shop

    Property Details for 10537 Washington St

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    Centre East, located at 10537 E. Washington Street in Indianapolis, Indiana (zip code 46229), offers exceptional retail space in a thriving Walmart-anchored center. This prime location in Marion County boasts a total of 30,000 square feet across three suites, providing flexibility for various business needs. Currently, there are 15,093 square feet of vacant space available, offering opportunities for immediate occupancy. Individual spaces range from a minimum of 1,600 square feet to a maximum contiguous space of 11,200 square feet. Businesses seeking larger footprints can explore a build-to-suit option, potentially utilizing the entire 30,000 square foot building. This presents a unique chance to establish a significant presence in a high-traffic area, benefiting from the established draw of a major anchor tenant. The property's strategic location in the East Suburban Indianapolis market ensures high visibility and accessibility for customers. This is an exceptional opportunity for businesses seeking a well-positioned retail space in a dynamic and growing area. Contact us today to learn more about the available spaces and explore the possibilities for your business at Centre East.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -85.9795
    Latitude
    39.7744

    Comparable in this City

    • Value Estimation by Request

      9503 Washington St

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      $900,000
      9,100 SF

      10110 Washington St

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    • Value Estimation
      $1,465,000
      15,594 SF

      10499 Washington St

      RETAIL STORES (PERSONAL SERVICES)
      10499 Washington St, Indianapolis, IN 46229-2633
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    • Value Estimation
      $535,000
      5,089 SF

      9630 Washington St

      RETAIL STORES (PERSONAL SERVICES)
      9630 Washington St, Indianapolis, IN 46229-3032
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    • Value Estimation by Request
      1,080 SF

      11242 Washington St

      RETAIL STORES (PERSONAL SERVICES)
      11242 Washington St, Indianapolis, IN 46229-3116
      View Details
    • Value Estimation
      $790,000
      8,680 SF

      10745 Washington St

      RETAIL STORES (PERSONAL SERVICES)
      10745 Washington St, Indianapolis, IN 46229
      View Details

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      14,820 SF

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      Retail and Office Space Available

      New retail, restaurant, and office spaces for lease.
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      Retail spaces available in a single-level strip center.
      10019-10043 E Washington St, Indianapolis, IN 46229
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      2,000 SF

      Indianapolis Retail Space For Lease

      Retail space available in Indianapolis's east side power center.
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    • $495 /Mo
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      Adaptable Commercial Unit in Cumberland

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    10537 Washington St
    Indianapolis, IN 46229
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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