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Property profile & analytics
OFF-MARKET Estimated value $2,800,000
Banks

10570 Michigan Rd Carmel, IN 46032-9685

3,577 SF 1.27 ac lot Built 2004
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US31-3377940
Property summary
AI-generated overview

This exceptional Class A retail property, a former bank branch, offers 3,577 square feet on a 1.27-acre lot in Hamilton County. Available for lease in early 2025, this single-tenant space boasts excellent visibility and accessibility at the intersection of Michigan Road and 106th Street, benefiting from a combined 43,000 vehicles per day. The property is situated within a thriving retail banking corridor, showcasing over $850 million in annual deposits from nearby branches along Michigan Road. This location is in West Carmel, the fastest-growing suburb of Indianapolis, presenting a unique opportunity for businesses seeking high visibility and access to a substantial customer base. The building's ample square footage and prominent location make it ideal for a variety of retail uses. The substantial land area provides ample parking and potential for future expansion. This is a rare opportunity to secure a prime retail space in a high-growth area with exceptional traffic counts and strong financial indicators. The property's former use as a bank suggests a strong foundation and existing infrastructure suitable for various retail adaptations. Don't miss this chance to establish your business in a premier West Carmel location.

Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 2004
Construction WOOD
Total area 3,577 SF
Lot 1.27 ac (55,321 SF)
APN 29-13-07-018-003.000-018
UPID US31-3377940
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
  • PNC Bank Bank Loan Service
  • PNC Mortgage Loan Service Bank
  • PNC ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.80M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.80M
Owner & transaction history
1st Source Bank · 1 yrs held
1st Source Bank
since 2024
Last sale
$2.8M
3 recorded transactions
2024
$2.8M
2008
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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