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Property profile & analytics
OFF-MARKET
Estimated value
$1,690,000
Office buildings
1 Virginia Ave 1, Indianapolis, IN 46204-3644
Entity Owned
3-yr Hold
Free & Clear
Property ID
US31-3201224
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1934
Total area
36,516 SF
Lot
0.19 ac (8,276 SF)
Zoning code
ZO01
APN
49-11-12-102-002.000-101
UPID
US31-3201224
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
iSalus Healthcare (Bike/Boat/Book/etc) Store Corporate Office
-
One Virginia Corporate Office
-
FedEx Drop Box Postal Service Courier Service
-
Voyage CME Medical School Educational Institution
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.69M
Owner & transaction history
One Virginia LLC · 3 yrs held
One Virginia LLC
since 2023
7 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+41.5%
Retail stores
$2.4M
+35.2%
Auto repair, garage
$2.2M
+21.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,805,000
Current use
RESTAURANT
$2,555,000
Change: +42% · Conversion: Moderate
RETAIL STORES
$2,440,000
Change: +35% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,190,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$1,450,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$1.69M
Range $1.52M – $1.86M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$46 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$70,208
Tax year 2023
Assessed value
$2,531,100
Assessed 2023
Previous assessed
$2,531,100
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$514,100
Assessed improvement
$2,017,000
Land market value
$514,100
Improvement market value
$2,017,000
Total market value
$2,531,100
Applied tax rate
101.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1934
Heating
NONE
Stories
8
Total area
36,516 SF
Lot
0.19 ac (8,276 SF)
Zoning code
ZO01
APN
49-11-12-102-002.000-101
UPID
US31-3201224
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
RESTAURANT
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1934
Heating
NONE
Stories
8
Lot
0.19 ac
Current owner
From public records · entity-resolved
One Virginia LLC
Entity
Free & Clear · 3 yrs held
Mailing address
9075 N MERIDIAN ST STE #175, INDIANAPOLIS, IN 46260-2366
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2023
—
One Virginia LLC
Jefferson Plaza LLC
Special Warranty Deed
—
Jul 21, 2015
—
Nicole D Horn
Allen Plaza LLC
Warranty Deed
$498,000 · Huntington Nat'l Bk/fl
Jun 13, 2011
$449,900
Poortinga,kevin E
Jefferson Plaza LLC
Warranty Deed
$398,180 · Huntington Nat'l Bk
Apr 26, 2011
$339,900
Wetnight,christopher D
Jefferson Plaza LLC
Warranty Deed
$305,900 · Huntington Nat'l Bk
Jan 27, 2009
—
Scottys Brewhouse Downtown In
—
Trustees Deed
related
$975,000 · General Electric Capital Corp
Mar 7, 2005
—
Jefferson Plaza LLC
Bhst LLC
Grant Deed
$1,432,500 · Huntington National Bank
Mar 2, 2004
—
Bhst LLC
1 Virginia Avenue LLC
Quit Claim Deed
related
—
—
—
Jefferson Plaza LLC
—
Deed Of Trust
related
$400,000 · Huntington National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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