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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Medical Office Space
10445 College Ave Carmel, IN 46280-1436
Entity Owned
3-yr Hold
Free & Clear
Property ID
US31-3333939
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1960
Construction
WOOD
Total area
3,480 SF
Lot
0.26 ac (11,326 SF)
APN
29-13-12-102-029.000-018
UPID
US31-3333939
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$680k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$525k
Owner & transaction history
Martinez Dentistry Indiapolis LLC · 3 yrs held
Martinez Dentistry Indiapolis LLC
since 2022
Last sale
$320,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$475,000
+163.1%
Auto repair, garage
$390,000
+114.7%
Commercial (general)
$365,000
+100.1%
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%
$735,000
6.5%
$680,000
7%
$630,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$475,000
Change: +163% · Conversion: Difficult
AUTO REPAIR, GARAGE
$390,000
Change: +115% · Conversion: Difficult
COMMERCIAL (GENERAL)
$365,000
Change: +100% · Conversion: Easy
RETAIL STORES
$355,000
Change: +96% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $320k (Nov 28 2024)
Last sale anchor
$320k
Nov 28 2024
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
$151 / 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
$3,805
Tax year 2023
Assessed value
$185,000
Assessed 2023
Previous assessed
$185,000
+0.0% YoY
Effective rate
2.06%
On assessed value
Assessed land
$65,000
Assessed improvement
$120,000
Land market value
$65,000
Improvement market value
$120,000
Total market value
$185,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1960
Construction
WOOD
Heating
NONE
Stories
1
Total area
3,480 SF
Lot
0.26 ac (11,326 SF)
APN
29-13-12-102-029.000-018
UPID
US31-3333939
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
WAREHOUSE, STORAGE
Est. value
$475,000
AUTO REPAIR, GARAGE
Est. value
$390,000
COMMERCIAL (GENERAL)
Est. value
$365,000
RETAIL STORES
Est. value
$355,000
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
1960
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Martinez Dentistry Indiapolis LLC
Entity
Free & Clear · 3 yrs held
Mailing address
10445 N COLLEGE AVE, CARMEL, IN 46280-1436
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2022
—
Martinez Dentistry Indiapolis LLC
10445 N College Ave Real Properties
Lease
—
Jan 20, 2022
$670,000
10445 N College Ave Real Properties
Northide Dental Care LLC
Warranty Deed
—
Apr 15, 2013
—
Northside Dental Care LLC
L & S Professional Ptshp
Warranty Deed
$198,900 · Bank Of America
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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