Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    10101 38Th St Indianapolis, IN 46235
    Back to Search
    Property profile & analytics

    10101 38Th St, Indianapolis, IN 46235

    View on Map
    • Specialty properties
    • 342,062 SF
    • 42.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • John Marshall High School / High School

    Property Details for 10101 38Th St

    Year built
    1968
    Lot size
    42.00 lot acres
    Property type
    Specialty properties
    Property subtype
    Schools

    Description

    This exceptional redevelopment opportunity presents a substantial 42-acre site encompassing 342,062 square feet of buildable area. Located at 10101 E 38th St, Indianapolis, IN 46235, in Marion County, this property, formerly John Marshall High School, offers significant potential for visionary investors and developers. The property features two stories, one building, and two loading docks with two dock-high doors. Built in 1968, the site is zoned SU-2 and boasts a convenient location near the Far Eastside industrial area and a short drive from downtown Indianapolis. This prime location provides easy access to business hubs, diverse dining options, and vibrant entertainment. The property's size and adaptability make it ideal for a wide range of projects, capitalizing on Indianapolis's dynamic growth. The APN is 49-08-21-124-001.000-701, 49-08-21-124-002.000-701, and 49-08-21-130-003.000-701. Owned by Indianapolis Public School, this is a unique chance to acquire a large-scale property with immense redevelopment potential. Bids are due December 5, 2024. For complete details, visit myips.org/real-estate/.

    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
    -85.9892
    Latitude
    39.825

    Comparable in this City

    • Value Estimation by Request
      8.78 Acres

      9924 42nd St

      CHARITABLE ORGANIZATION
      9924 42nd St, Indianapolis, IN 46235-1676
      View Details
    • Value Estimation by Request
      9.80 Acres

      3000 German Church Rd

      Land
      3000 German Church Rd, Indianapolis, IN 46235
      View Details
    • Value Estimation by Request
      5.78 Acres

      Pendleton Pi

      VACANT COMMERCIAL LAND
      Pendleton Pi, Indianapolis, IN 46235
      View Details
    • Value Estimation by Request
      3.19 Acres

      3810 German Church Rd

      VACANT COMMERCIAL LAND
      3810 German Church Rd, Indianapolis, IN 46235-9737
      View Details
    • Value Estimation by Request
      0.85 Acres

      6290 Oaklandon Rd

      VACANT COMMERCIAL LAND
      6290 Oaklandon Rd, Indianapolis, IN 46235-9732
      View Details
    • Value Estimation by Request
      0.75 Acres

      5885 German Church Rd

      VACANT COMMERCIAL LAND
      5885 German Church Rd, Indianapolis, IN 46235-5733
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Indianapolis Land For Sale

      Land available in Indianapolis, Indiana.
      3083 North West, Indianapolis, IN 46235
      View Details
    • Contact for pricing

      Prime Development Ground Available

      81 acres of land in fast-growing Mt Comfort area.
      4600 N County Line Rd E, Indianapolis, IN 46235
      View Details
    • $35,000
      Pending

      Residential Lots in Indianapolis, IN

      Residential lots for sale in Indianapolis, Indiana.
      3214 Milford Rd, Indianapolis, IN 46235
      View Details
    • $3,000,000
      75.41 Acres

      Residential Development Land Opportunity

      75.41 acres ideal for residential development in Indianapolis, IN.
      11805 E 62Nd St, Indianapolis, IN 46235
      View Details
    • Contact for pricing

      3.25 Acre Commercial Land Parcel

      3.25-acre commercial land parcel zoned C3 with high traffic.
      10040-10110 E 30Th St, Indianapolis, IN 46235
      View Details
    • Contact for pricing

      Industrial Land Near I-70

      16.6 acres of industrial land with utilities nearby.
      3083 N 800 W, Indianapolis, IN 46235
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Land with Paved Storage

      22.3 acres of I-3 zoned land for lease.
      3205 North Mitthoeffer Rd, Indianapolis, IN 46235
      View Details
    • Contact for pricing

      Industrial Space Available For Sublease

      19,200 SF industrial space available for sublease through February 2024.
      9208 East 33Rd St, Indianapolis, IN 46235
      View Details
    • Contact for pricing
      2,010 SF

      Retail Space Near Wal-Mart

      Retail space with high visibility and easy access.
      10635 Pendleton Pike, Indianapolis, IN 46235
      View Details
    • Contact for pricing
      6,800 SF

      Retail Space Near Wal-Mart

      Retail space with high visibility and accessibility.
      10625 Pendleton Pike, Indianapolis, IN 46235
      View Details
    • Contact for pricing
      35,200 SF

      Industrial Space Available For Lease

      Industrial spaces available for lease with docks and drive-in access.
      9202 East 33Rd St, Indianapolis, IN 46235
      View Details
    • Contact for pricing
      35,200 SF

      Industrial Space Available for Sublease

      19,200 SF industrial space available for sublease.
      9202-9214 E 33Rd St, Indianapolis, IN 46235
      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.
    10101 38Th St
    Indianapolis, IN 46235
    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
    10101 38Th St, Indianapolis, IN, 46235
    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!