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    7245 146Th St Carmel, IN 46033
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    7245 146Th St Carmel, IN 46033

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    • Retail properties & Spaces
    • 8,985 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Crown Nail Salon / Nail Salon
    • Sol Hot Yoga Studio / Gym & Fitness Center
    • Sport Clips Haircuts of Carmel - 146th Street / Hair Salon

    Property Details for 7245 146Th St

    Property size
    8,985 SF
    Property type
    Retail properties & Spaces

    Description

    Legacy Carmel, located at 7245 East 146th Street in Carmel, Indiana (zip code 46033), presents a unique mixed-use retail investment opportunity in Hamilton County. This property boasts a total of 8,985 square feet across three suites, offering flexible space options for prospective tenants. Currently, 7,300 square feet are available for lease, with individual spaces ranging from a minimum of 1,500 square feet to a maximum contiguous space of 4,300 square feet. The property sits on a sizable lot ranging from 0.6 to 2.7 acres, providing ample space and visibility. Its prime location in Carmel, Indiana ensures high foot traffic and excellent exposure for businesses seeking a thriving retail environment. The property is classified as a mixed-use development, offering potential for a variety of retail concepts. This is an exceptional opportunity to establish a presence in a dynamic and growing community. Interested parties should inquire about lease terms and availability for the available 7,300 square feet. The property's address is easily accessible and offers convenient parking for customers and employees.

    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
    -86.0441
    Latitude
    39.9997

    Comparable in this City

    • Value Estimation by Request
      1,631 SF

      Appain Ct

      Individual retail properties • 1,631 SF
      0 Appain Ct, Carmel, IN 46033
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    • Value Estimation
      $4,070,000
      30,464 SF

      2480 146th St

      GROCERY, SUPERMARKET • 30,464 SF
      2480 146th St, Carmel, IN 46033-7712
      View Details
    • Value Estimation
      $1,065,000
      8,333 SF

      14480 Lowes Way

      RESTAURANT • 8,333 SF
      14480 Lowes Way, Carmel, IN 46033-7806
      View Details
    • Value Estimation
      $595,000
      3,147 SF

      146th St

      SHOPPING CENTER, STRIP CENTER • 3,147 SF
      146th St, Carmel, IN 46033
      View Details
    • Value Estimation
      $715,000
      5,609 SF

      146th St

      RESTAURANT • 5,609 SF
      146th St, Carmel, IN 46033
      View Details
    • Value Estimation
      $700,000
      3,910 SF

      2560 146th St

      RETAIL STORES (PERSONAL SERVICES) • 3,910 SF
      2560 146th St, Carmel, IN 46033-7714
      View Details

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    Similar Nearby for Lease

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      8,985 SF

      Carmel Retail Space Available

      8,985 square feet of retail space for rent.
      7245 East 146Th St, Carmel, IN 46033
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      Carmel Retail Space For Lease

      Retail spaces available in high-growth Carmel location.
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      1,400 SF retail space with high visibility.
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      Restaurant Space in Carmel, Indiana

      Turnkey restaurant sublease opportunity in high-traffic Carmel location.
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      2,750 SF

      Medical Office Space Available

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    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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