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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Office Spaces
1040 Rangeline Rd Carmel, IN 46032-2544
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-0954592
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1965
Construction
WOOD
Total area
4,800 SF
Lot
1.34 ac (58,370 SF)
APN
29-09-36-000-020.000-018
UPID
US31-0954592
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
-
Cool Creek Dentistry Dental Office
-
24/7 TowTruck Carmel IN Auto Repair Shop
-
Dr. Rachana Waghela Dental Office
-
Elite Smile Dentistry of Carmel Dental Office
-
David Kristoff Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$560k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$533k
Blend (final)
Blend
$695k
Owner & transaction history
Phillip L Stewart 2024 Irrevocable · 1 yrs held
Phillip L Stewart 2024 Irrevocable
since 2024
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$560,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$145 / 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
$16,096
Tax year 2023
Assessed value
$794,700
Assessed 2023
Previous assessed
$794,700
+0.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$670,000
Assessed improvement
$124,700
Land market value
$670,000
Improvement market value
$124,700
Total market value
$794,700
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
Off-Market
Year built
1965
Construction
WOOD
Heating
NONE
Stories
1
Total area
4,800 SF
Lot
1.34 ac (58,370 SF)
APN
29-09-36-000-020.000-018
UPID
US31-0954592
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
Building & site characteristics
From public records
Year built
1965
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.34 ac
Current owner
From public records · entity-resolved
Phillip L Stewart 2024 Irrevocable
Individual
Mailing address
PO BOX 371, CARMEL, IN 46082-0371
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2024
—
Phillip L Stewart 2024 Irrevocable
Phillip L Stewart
Deed
related
—
Jun 25, 2021
—
Nstai Properties LLC
Kristoff Properties LLC
Warranty Deed
—
Sep 11, 2019
—
Stewart,phillip Trust
Stewart Prop & Invs LLC
Quit Claim Deed
related
—
Feb 2, 2018
—
Stewart Properties & Invs LLC
Marketing Services Of Indiana INC
Warranty Deed
—
Sep 5, 2017
—
City Of Carmel Indiana
Marketing Services Of Indiana INC
Quit Claim Deed
—
Oct 5, 2016
—
Marketing Service Of Indiana INC
—
Deed
related
$25,000 · Iroquois Fed'l S&l
—
—
Marketing Services Of Indiana INC
—
Deed Of Trust
related
$250,000 · Main Street Bank & Trust
—
—
Marketing Services Of In INC
—
Deed Of Trust
related
$300,000 · Iroquois Fed'l Savings & Loan
—
—
Marketing Service Of Indiana INC
—
Loan Modification
related
$25,000 · Iroquois Fed'l S&l
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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