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    Property profile & analytics

    10201 Illinois St Indianapolis, IN 46290

    • Office properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Precision Products Group Inc / Industrial Manufacturer / Production Facility
    • Hovde Dassow + Deets / Law Firm
    • William Radez Jr Attorney At Law / Law Firm
    • DMI / IT Consulting Firm / (Bike/Boat/Book/etc) Store
    • GEMMS Corp / (Bike/Boat/Book/etc) Store / Corporate Office

    Property Details for 10201 Illinois St

    Property type
    Office properties & Spaces

    Description

    Meridian Tower, located at 10201 Illinois St, Indianapolis, IN 46290, offers exceptional traditional office space. This multiple-tenancy building provides move-in ready suites, fully furnished and immediately available. The property boasts a competitive rental rate of $19.75 per square foot. A significant incentive is offered to new tenants: one month of free rent for each year of the lease term. Flexible lease terms are available, catering to short-term needs with options ranging from one to three years. The building's convenient location in Indianapolis, Indiana, ensures easy access to major transportation routes and amenities. This is an ideal opportunity for businesses seeking a fully equipped, immediately available office space with attractive lease terms in a prime Indianapolis location. The building is a traditional office building, perfect for a variety of business needs. Contact us today to schedule a viewing and secure your space in this desirable location. The latitude and longitude coordinates are 39.9318603, -86.1628459 respectively.

    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
    -86.1628
    Latitude
    39.9319

    Comparable in this City

    • Value Estimation by Request
      241,806 SF

      10330 Meridian St

      Medical Office Space • 241,806 SF
      10330 Meridian St, Indianapolis, IN 46290
      View Details
    • Value Estimation
      $5,600,000
      41,650 SF

      10300 Illinois St

      OFFICE (GENERAL) • 41,650 SF
      10300 Illinois St, Carmel, IN 46290-1166
      View Details
    • Value Estimation
      $3,670,000
      39,464 SF

      10293 Meridian St

      OFFICE (GENERAL) • 39,464 SF
      10293 Meridian St, Carmel, IN 46290-1123
      View Details
    • Value Estimation
      $16,960,000
      135,564 SF

      10201 Illinois St

      OFFICE (GENERAL) • 135,564 SF
      10201 Illinois St, Carmel, IN 46290-1114
      View Details
    • Value Estimation
      $10,190,000
      243,078 SF

      10330 Meridian St

      OFFICE (GENERAL) • 243,078 SF
      10330 Meridian St, Carmel, IN 46290-1024
      View Details
    • Value Estimation
      $10,840,000
      65,362 SF

      10300 Illinois St

      OFFICE (GENERAL) • 65,362 SF
      10300 Illinois St, Carmel, IN 46290-1166
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      22,000 SF

      Carmel Office Space For Rent

      Premier multi-use property with high visibility and tenant amenities.
      10330 N Meridian St, Indianapolis, IN 46290
      View Details
    • Contact for pricing
      8,994 SF

      Class A Office Space

      Modern office with high-end finishes and best-in-class amenities.
      10401 N Meridian St, Indianapolis, IN 46290
      View Details
    • Contact for pricing
      3,728 SF

      Office Space Available For Rent

      Office space available for rent at 10585 N Meridian St.
      10585 N Meridian St, Indianapolis, IN 46290
      View Details
    • $24 SF/Yr
      4,973 SF

      Renovated Retail and Office Space

      High-traffic location with retail and office space for lease.
      10293 N Meridian St, Indianapolis, IN 46290
      View Details
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    10201 Illinois St
    Indianapolis, IN 46290
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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.

    More about this property
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