Back to Search
Property profile & analytics
FOR LEASE
Strip malls
10635 Pendleton Pike Indianapolis, IN 46235
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US31-0485683
For Lease
1 / 3
$810,000
10635 Pendleton Pike, Indianapolis, IN 46235
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2003
Construction
TYPE NOT SPECIFIED
Total area
39,200 SF
Lot
7.82 ac (340,552 SF)
Zoning code
ZO01
APN
49-08-04-133-001.000-407
UPID
US31-0485683
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
-
Papa Murphy's | Take 'N' Bake Pizza Restaurant
-
FedEx Office Print & Ship Center Courier Service Postal Service
-
Penn Station East Coast Subs Take-out & Catering
-
FedEx Drop Box Postal Service Courier Service
-
Mr Tobacco & Vape (Bike/Boat/Book/etc) Store Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$810k
Owner & transaction history
Indian Creek Commons LLC · 10 yrs held
Indian Creek Commons LLC
since 2016
5 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
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 Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$930,000
Current use
Blend value · Realmo final
$810k
Range $729k – $891k · ±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
$21 / 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
$144,045
Tax year 2023
Assessed value
$5,593,100
Assessed 2023
Previous assessed
$5,593,100
+0.0% YoY
Effective rate
2.58%
On assessed value
Assessed land
$2,522,100
Assessed improvement
$3,071,000
Land market value
$2,522,100
Improvement market value
$3,071,000
Total market value
$5,593,100
Applied tax rate
407.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2003
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
3
Stories
1
Total area
39,200 SF
Lot
7.82 ac (340,552 SF)
Zoning code
ZO01
APN
49-08-04-133-001.000-407
UPID
US31-0485683
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$930,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
2003
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
3
Lot
7.82 ac
Current owner
From public records · entity-resolved
Indian Creek Commons LLC
Entity
Mailing address
7600 JERICHO TPKE, WOODBURY, NY 11797-1728
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2016
—
Indian Creek Commons LLC
Viking Ptrs Indian Creek LLC
Quit Claim Deed
related
$5,950,000 · Citigroup Global Markets Rlty
Jun 1, 2012
$6,700,000
Us Bank NA Series Cd 2005-hq7
Sheriff Of Marion County
Trustees Deed
related
—
May 21, 2004
—
Edward M Pearl Family
Preco II Cric LLC
Grant Deed
related
—
—
—
Indian Creek Commons LLC
—
Deed Of Trust
related
$10,100,000 · Lasalle National Bank
—
—
Caps Cones LLC
—
Deed Of Trust
related
$469,000 · Indiana Statewide Certified De
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
