Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1001 Palmer St Indianapolis, IN 46203-2755

    • Office Properties & Spaces
    • 36,151 SF
    • 1.62 lot acres
    OFF-MARKET
    Last Sale
    Mar 12, 2021
    Value Estimations
    $1,345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3435192
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Gospel Martial Arts Union / Training Center / Sports School
    • Why Aren't You Smiling, Inc. (WAYS) / Child Welfare Organization / Charitable Organization

    Property Details for 1001 Palmer St

    Year built
    1900
    Construction
    WOOD
    Lot size
    1.62 lot acres
    Property size
    36,151 SF
    Zone code
    ZO01
    Property type
    Office Properties & Spaces
    APN
    49-11-13-183-001.000-101
    APU
    491113183001000101

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,454,000
      Market price range: $819k - $3.28M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1418
    Latitude
    39.7459
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $309,700
    $757,700
    $1,067,400
    -
    $309,700
    $757,700
    $1,067,400

    Comparable in this City

    • Value Estimation by Request
      1,900 SF

      924 Shelby St

      OFFICE (GENERAL) • 1,900 SF
      924 Shelby St, Indianapolis, IN 46203-1150
      View Details
    • Value Estimation by Request
      2,628 SF

      743 Pleasant Run Pkwy S Dr

      OFFICE (GENERAL) • 2,628 SF
      743 Pleasant Run Pkwy S Dr, Indianapolis, IN 46203-3914
      View Details
    • Value Estimation
      $555,000
      12,485 SF

      5260 Churchman Ave

      OFFICE (GENERAL) • 12,485 SF
      5260 Churchman Ave, Indianapolis, IN 46203
      View Details
    • Value Estimation by Request
      2,170 SF

      1102 Deloss St

      OFFICE (GENERAL) • 2,170 SF
      1102 Deloss St, Indianapolis, IN 46203-1155
      View Details
    • Value Estimation by Request
      3,422 SF

      2025 Shelby St

      OFFICE (GENERAL) • 3,422 SF
      2025 Shelby St, Indianapolis, IN 46203-4045
      View Details
    • Value Estimation by Request
      3,092 SF

      2311 Shelby St

      OFFICE (GENERAL) • 3,092 SF
      2311 Shelby St, Indianapolis, IN 46203-4234
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office Space for Sale

      Office property available for purchase in Indianapolis.
      1354 S Shelby St, Indianapolis, IN 46203
      View Details
    • $279,000
      20,423 SF

      Prime Indy Auto Shop Opportunity

      Vacant 20,423 SF Auto Shop - $279K
      5990 Raymond St, Indianapolis, IN 46203
      View Details
    • $355,000
      5,265 SF

      Versatile Indianapolis Property For Sale

      High-visibility property with office, shop, and storage improvements on 0.7 acres.
      4700-4702 Southeastern Ave, Indianapolis, IN 46203
      View Details
    • Contact for pricing
      20,784 SF

      Indianapolis Office Building For Sale

      20,784 SF office building on 1.26 acres.
      5949 W Raymond St, Indianapolis, IN 46203
      View Details
    • Contact for pricing
      68,611 SF

      Office Space in Indianapolis

      Office building with 68,611 square feet available for lease.
      5420 W Southern Ave, Indianapolis, IN 46203
      View Details
    • Contact for pricing
      32,036 SF

      Indianapolis Office and Retail Building

      East Indianapolis building with office and retail space for sale.
      1213 N Arlington Ave, Indianapolis, IN 46203
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,580 SF

      Prospect St. Executive Suites

      Indianapolis Retail & Office Space. Prime Location.
      1441 Prospect St, Indianapolis, IN 46203
      View Details
    • $10 SF/Yr
      29,103 SF

      Griffin Buildings: Indy Industrial Space

      Prime Indy Flex/Office/Warehouse Space
      5342 Elmwood Ave, Indianapolis, IN 46203
      View Details
    • $2,380 /Mo
      360 SF

      Fountain Square Retail/Office Space

      Retail or office space in the heart of Fountain Square.
      1135 Shelby St, Indianapolis, IN 46203
      View Details
    • $18 SF/Yr
      34,700 SF

      South Emerson Office Plaza

      Prime Southport Indy Office Space
      0 Emerson Ave, Indianapolis, IN 46203
      View Details
    • Contact for pricing
      3,169 SF

      Office Spaces For Lease

      Two office spaces available for lease near downtown Indianapolis.
      902 Virginia Ave, Indianapolis, IN 46203
      View Details
    • Contact for pricing
      7,000 SF

      Renovated Office and Storage Space

      Newly renovated office and storage space near downtown Indianapolis.
      845 W Troy Ave, Indianapolis, IN 46203
      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.
    1001 Palmer St
    Indianapolis, IN 46203-2755
    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

    Google sign-in failed. Please try again or use another login method.