Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2916 Main St Indianapolis, IN 46231
    Back to Search
    Property profile & analytics

    2916 Main St Indianapolis, IN 46231

    View on Map
    • Land
    • 1.46 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Billz Paint House / Auto Repair Shop

    Property Details for 2916 Main St

    Lot size
    1.46 lot acres
    Property type
    Land

    Description

    This 1.46-acre commercial land parcel is ideally situated on East Main Street (SR 40) in Indianapolis, Indiana, offering exceptional visibility with approximately 115 linear feet of frontage on SR 40 and 250 linear feet on Station Boulevard. The property boasts a prime location within a rapidly developing area, featuring new road infrastructure and significant ongoing construction. Its strategic position provides easy access to major transportation arteries, including Ronald Reagan Parkway – Hendricks County's main north-south corridor – and is conveniently located just 10 minutes from the Indianapolis International Airport. The property is zoned for General Commercial use, allowing for a wide range of development possibilities, including entertainment venues, retail spaces, offices, medical facilities, and commercial residential projects. This exceptional opportunity presents a unique chance to capitalize on the growth and high visibility of this thriving area. The asking price is $899,999. The property is located in Hendricks County, Indiana, with a zip code of 46231.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hendricks
    State
    Indiana
    Longitude
    -86.3454
    Latitude
    39.7227

    Comparable in this City

    • Value Estimation by Request
      2.19 Acres

      9222 Orly Rd

      Land • 2.19 Acres
      9222 Orly Rd, Indianapolis, IN 46231
      View Details
    • Value Estimation by Request
      1.63 Acres

      8616 Washington St

      Land • 1.63 Acres
      8616 Washington St, Indianapolis, IN 46231
      View Details
    • Value Estimation by Request
      6,525 SF

      8734 Washington St

      COMMERCIAL (GENERAL) • 6,525 SF
      8734 Washington St, Indianapolis, IN 46231
      View Details
    • Value Estimation by Request
      2,660 SF

      8516 Washington St

      COMMERCIAL (GENERAL) • 2,660 SF
      8516 Washington St, Indianapolis, IN 46231-3200
      View Details
    • Value Estimation by Request
      1,450 SF

      9120 Raymond St

      COMMERCIAL (GENERAL) • 1,450 SF
      9120 Raymond St, Indianapolis, IN 46231
      View Details
    • Value Estimation by Request
      5,760 SF

      8480 Washington St

      SHOW ROOM, WAREHOUSE • 5,760 SF
      8480 Washington St, Indianapolis, IN 46231-1382
      View Details

    Similar Nearby for Sale

    • $8,035,195

      Land Available for Sale

      Land available for sale in Indianapolis, Indiana.
      10697 E County Road 450 S, Indianapolis, IN 46231
      View Details
    • Contact for pricing

      Land with Interstate Access

      Commercial land with phenomenal access to Indianapolis Interstate System.
      9222 Orly Rd, Indianapolis, IN 46231
      View Details
    • $799,999

      Commercial Land on Main Street

      1.46 acres of commercial land with high visibility.
      2916 East Main St, Indianapolis, IN 46231
      View Details
    • $8,035,195
      26.70 Acres

      26.7 Acres Tech/Flex Land

      Rare 26.7-acre parcel suited for commercial or light industrial development.
      10697 E County Road 450 S, Indianapolis, IN 46231
      View Details
    • $650,000
      4.24 Acres

      4.24 Acres Redevelopment Opportunity

      4.24 acres for industrial redevelopment in Indianapolis, Indiana.
      1744 S County Road 1050 E, Indianapolis, IN 46231
      View Details
    • $330,000
      Pending

      Versatile Commercial Land in Indianapolis

      3.38-acre commercial lot in a rapidly developing area.
      421 Bridgeport Rd S, Indianapolis, IN 46231
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      513,000 SF

      Industrial Land Near Airport

      38.3 acres of industrial land available for build-to-suit.
      6160 S County Road 1075 E, Indianapolis, IN 46231
      View Details
    • Contact for pricing

      Commercial Land for Lease

      2.82 acres of commercial land with I-465 access.
      1245 S Girls School Rd, Indianapolis, IN 46231
      View Details
    • Contact for pricing
      5,400 SF

      Versatile Commercial Space for Lease

      Adaptable commercial space suitable for diverse business operations.
      8350 West Washington St, Indianapolis, IN 46231
      View Details
    • Contact for pricing

      Plainfield Commercial Space For Rent

      Two buildings totaling 21,202 SF on 3.76 acres.
      Ronald Reagan Pkwy & Stafford Rd, Plainfield, IN 46231
      View Details
    • Contact for pricing

      Flexible Office Space Near Airport

      7,706 SF office space with convenient airport access.
      7333 W Washington St, Indianapolis, IN 46231
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2916 Main St
    Indianapolis, IN 46231
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2916 Main St, Indianapolis, IN, 46231
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!