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    Illinois St Carmel, IN 46032

    • Office Properties & Spaces
    • 5.42 lot acres
    For Sale
    View listing
    $3,523,000
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 0 Illinois St

    Lot size
    5.42 lot acres
    Property type
    Office Properties & Spaces
    Property subtype
    Land

    Description

    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.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1624
    Latitude
    39.9594

    Comparable in this City

    • Value Estimation by Request
      180,000 SF

      11595 Meridian St

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    • Value Estimation by Request
      156,876 SF

      11590 Meridian St

      OFFICE (GENERAL) • 156,876 SF
      11590 Meridian St, Carmel, IN 46032-6954
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    • Value Estimation by Request
      70,093 SF

      14598 Oak Rdg Rd

      OFFICE (GENERAL) • 70,093 SF
      14598 Oak Rdg Rd, Carmel, IN 46032-1201
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    • Value Estimation by Request
      19,242 SF

      12415 Old Meridian St

      OFFICE (GENERAL) • 19,242 SF
      12415 Old Meridian St, Carmel, IN 46032-8713
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    • Value Estimation by Request
      38,502 SF

      11405 Pennsylvania St

      OFFICE (GENERAL) • 38,502 SF
      11405 Pennsylvania St, Carmel, IN 46032-6942
      View Details
    • Value Estimation by Request
      39,679 SF

      1036 Rangeline Rd

      OFFICE (GENERAL) • 39,679 SF
      1036 Rangeline Rd, Carmel, IN 46032-2544
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Land available for lease in Carmel, Indiana.
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      1,829,520 SF

      Rangeline Road Commercial Land Parcel

      42-acre commercial land, Hamilton County.
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      View Details
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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
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