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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10930 59Th St Indianapolis, IN 46236

    • Land
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 10930 59Th St

    Property type
    Land

    Description

    This exceptional 4.63-acre commercial land parcel presents a remarkable development opportunity in Indianapolis, Indiana. Strategically located at the northwest corner of 59th Street and Sunnyside Road, this property boasts excellent visibility and accessibility. The site enjoys exposure to over 54,000 vehicles daily at the intersection of Pendleton Pike and Sunnyside Road, ensuring high traffic counts and significant brand visibility for any future development. The land is currently available for sale or lease and is divisible into multiple outlots, offering flexibility for various project sizes and needs. Zoning permits both C4 (commercial) and I3 (industrial) uses, opening doors to a wide range of development possibilities, including retail, industrial, or flex space. This prime location and versatile zoning make this property an ideal investment for developers seeking a high-impact commercial project in a thriving area of Indianapolis. The "development ready" status of the land streamlines the process, minimizing pre-development hurdles and accelerating project timelines. This is a rare opportunity to acquire a significant parcel in a high-traffic area with excellent visibility and diverse development potential. Serious inquiries are encouraged.

    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
    -85.9742
    Latitude
    39.8643

    Comparable in this City

    • Value Estimation by Request
      3.50 Acres

      10242 Pendleton Pik

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      10242 Pendleton Pik, Indianapolis, IN 46236
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    • Value Estimation by Request
      9.00 Acres

      7950 Oaklandon Rd

      Land • 9.00 Acres
      7950 Oaklandon Rd, Indianapolis, IN 46236
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    • Value Estimation by Request
      840 SF

      8155 Oaklandon Rd

      COMMERCIAL (GENERAL) • 840 SF
      8155 Oaklandon Rd, Indianapolis, IN 46236-8578
      View Details
    • Value Estimation
      $1,085,000
      8,894 SF

      10920 59th St

      COMMERCIAL (GENERAL) • 8,894 SF
      10920 59th St, Indianapolis, IN 46236-8337
      View Details
    • Value Estimation by Request
      10,200 SF

      10705 59th St

      COMMERCIAL (GENERAL) • 10,200 SF
      10705 59th St, Indianapolis, IN 46236-8335
      View Details
    • Value Estimation
      $545,000
      4,800 SF

      10115 59th St

      COMMERCIAL (GENERAL) • 4,800 SF
      10115 59th St, Indianapolis, IN 46236
      View Details

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      3.50 Acres

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      View Details
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      Corner Development Land Site

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      Walgreens Retail Property For Sale

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    Similar Nearby for Lease

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      Prime Indy Commercial Land

      4.63 Acres, Development Ready
      10930 59Th St, Indianapolis, IN 46236
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    • $10 SF/Yr
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      Retail Space at Sunnyside Shoppes

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      Sunnyside Shoppes: Retail Investment

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      Rear-loaded warehouse with office space for lease near Geist.
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    10930 59Th St
    Indianapolis, IN 46236
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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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