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    Appain Ct Carmel, IN 46033
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    Appain Ct, Carmel, IN 46033

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    • Retail properties & Spaces
    • 1,631 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Appain Ct

    Year built
    2025
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    Exceptional investment opportunity in three Class A retail condos located within the LEO at Carmel development, slated for completion in Fall 2026. These storefronts, ranging from 1,631 to 2,397 square feet, are situated at a high-traffic signalized intersection of 146th Street and Community Drive, experiencing 25,750 vehicles daily. The property boasts a strong demographic profile, with 2,235 households within a one-mile radius and an average household income of $148,321. This location benefits from its placement within the larger 400-acre Legacy of Carmel master-planned mixed-use district, a thriving community with 350 residential units (230 single-family and 120 garden-style apartments). The total ground floor retail space available is 5,828 square feet. The property is zoned PUD (Planned Unit Development) and has an APN of 29-10-23-000-001.003-018. This presents a unique opportunity to establish a retail presence in a rapidly growing area with high visibility and strong purchasing power. Additional retail outlots are also available. The address is 0 Appain Ct, Carmel, IN 46033.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.0835
    Latitude
    39.9871

    Comparable in this City

    • Value Estimation
      $700,000
      3,910 SF

      2560 146th St

      RETAIL STORES (PERSONAL SERVICES)
      2560 146th St, Carmel, IN 46033-7714
      View Details
    • Value Estimation by Request
      1,224 SF

      4317 146th St

      RETAIL STORES (PERSONAL SERVICES)
      4317 146th St, Carmel, IN 46033-9173
      View Details
    • Value Estimation
      $1,365,000
      9,920 SF

      3404 146th St

      RETAIL STORES (PERSONAL SERVICES)
      3404 146th St, Carmel, IN 46033-9430
      View Details
    • Value Estimation by Request
      8,985 SF

      7245 146Th St

      Retail properties & Spaces
      7245 146Th St, Carmel, IN 46033
      View Details
    • Value Estimation
      $4,070,000
      30,464 SF

      2480 146th St

      GROCERY, SUPERMARKET
      2480 146th St, Carmel, IN 46033-7712
      View Details
    • Value Estimation
      $710,000
      3,917 SF

      5760 Main St

      FINANCIAL BUILDING
      5760 Main St, Carmel, IN 46033-9826
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,397 SF

      Carmel Retail Condominiums For Sale

      Three ground floor retail condominiums available in Carmel, Indiana.
      7015 E 146Th St, Carmel, IN 46033
      View Details
    • Contact for pricing

      Carmel Retail Outlots on 146th

      2.7± acres available in a walkable, connected community.
      7249 E 146Th St, Carmel, IN 46033
      View Details
    • Contact for pricing
      9,500 SF

      Carmel Office Space For Lease

      Class A office space with customizable options and convenient parking.
      4611 Lisborn Dr, Carmel, IN 46033
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Carmel Retail Space For Lease

      Retail spaces available in high-growth Carmel location.
      7249 E 146Th St, Carmel, IN 46033
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Carmel Center

      1,400 SF retail space with high visibility.
      2801 E 116Th St, Carmel, IN 46033
      View Details
    • Contact for pricing
      8,985 SF

      Carmel Retail Space Available

      8,985 square feet of retail space for rent.
      7245 East 146Th St, Carmel, IN 46033
      View Details
    • Contact for pricing
      1,732 SF

      Westfield Retail and Restaurant Space

      Retail and restaurant spaces in a neighborhood shopping destination.
      14631-14655 N Gray Rd, Westfield, IN 46033
      View Details
    • Contact for pricing
      2,750 SF

      Medical Office Space Available

      Medical office space for rent with future expansion potential.
      14555 Hazel Dell Pkwy, Carmel, IN 46033
      View Details
    • Contact for pricing

      Restaurant Space in Carmel, Indiana

      Turnkey restaurant sublease opportunity in high-traffic Carmel location.
      7241 East 146Th St, Carmel, IN 46033
      View Details
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    Appain Ct
    Carmel, IN 46033
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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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