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Property profile & analytics
FOR LEASE
Office Spaces
10385 Commerce Dr Carmel, IN 46032
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0507133
For Lease
1 / 3
$24 SF/Yr
10385 Commerce Dr, Carmel, IN 46032
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2005
Construction
WOOD
Total area
8,128 SF
Lot
9.51 ac (414,256 SF)
APN
29-13-07-000-015.006-018
UPID
US31-0507133
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
-
Rosenberg Gabriel J MD Pediatrician Medical Clinic
-
Lashes Dulces Hair Salon
-
Hair With Alaina Hair Salon Nail Salon
-
Youthful You Aesthetics Skin Care Clinic
-
Salon Suites of West Carmel Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.69M
Comparable Approach
Comparable
$1.11M
Blend (final)
Blend
$1.74M
Owner & transaction history
West Carmel Cp 1 LLC · 14 yrs held
West Carmel Cp 1 LLC
since 2012
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.7M
+19.8%
Auto repair, garage
$2.4M
+4.3%
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 Carmel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carmel 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%
$1,830,000
6.5%
$1,690,000
7%
$1,570,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,250,000
Current use
RETAIL STORES
$2,700,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,350,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$1.74M
Range $1.56M – $1.91M · ±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
$213 / 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
$76,350
Tax year 2023
Assessed value
$3,787,200
Assessed 2023
Previous assessed
$3,787,200
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$794,200
Assessed improvement
$2,993,000
Land market value
$794,200
Improvement market value
$2,993,000
Total market value
$3,787,200
Applied tax rate
18.0000
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 Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2005
Construction
WOOD
Heating
NONE
Buildings
4
Stories
1
Total area
8,128 SF
Lot
9.51 ac (414,256 SF)
APN
29-13-07-000-015.006-018
UPID
US31-0507133
Jurisdiction
HAMILTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.3M
RETAIL STORES
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.4M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
2005
Construction
WOOD
Heating
NONE
Stories
1
Buildings
4
Lot
9.51 ac
Current owner
From public records · entity-resolved
West Carmel Cp 1 LLC
Entity
Mailing address
2200 DOUGLAS BLVDB, ROSEVILLE, CA 95661-3821
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2012
—
West Carmel Cp 1 LLC
West Carmel I LLC
Quit Claim Deed
$2,850,000 · Miscellaneous Ins Co
Oct 24, 2005
—
West Carmel I LLC
—
Trustees Deed
related
$4,600,000 · National City Bank Midwest
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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