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Property profile & analytics
FOR LEASE
Office Spaces
10689 N Pennsylvania St Indianapolis, IN 46280
Entity Owned
16-yr Hold
Free & Clear
Property ID
US31-3516607
For Lease
1 / 2
$7,705,000
10689 N Pennsylvania St, Indianapolis, IN 46280
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2000
Construction
TYPE NOT SPECIFIED
Total area
55,697 SF
Lot
5.01 ac (218,236 SF)
APN
29-13-02-000-017.000-018
UPID
US31-3516607
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
by Request
Comparable Approach
Comparable
$5.25M
Blend (final)
Blend
$7.71M
Owner & transaction history
Sedd 10689 LLC · 16 yrs held
Sedd 10689 LLC
since 2009
4 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 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
Blend value · Realmo final
$7.71M
Range $6.93M – $8.48M · ±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
$138 / 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
$87,662
Tax year 2023
Assessed value
$4,344,600
Assessed 2023
Previous assessed
$4,344,600
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,271,300
Assessed improvement
$3,073,300
Land market value
$1,271,300
Improvement market value
$3,073,300
Total market value
$4,344,600
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
2000
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Total area
55,697 SF
Lot
5.01 ac (218,236 SF)
APN
29-13-02-000-017.000-018
UPID
US31-3516607
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
2000
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Lot
5.01 ac
Current owner
From public records · entity-resolved
Sedd 10689 LLC
Entity
Free & Clear · 16 yrs held
Mailing address
10689 N PENNSYLVANIA ST STE #100, CARMEL, IN 46280-1099
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2009
—
Sedd 10689 LLC
Citizens Banking Co
Grant Deed
—
Jun 27, 2008
$5,630,392
Citizens Bank
Sheriff Of Hamilton County
Trustees Deed
related
—
Jun 12, 2006
—
Browning Real Estate Props LLC
Standard Management Corp
Grant Deed
$1,016,000 · First Indiana Bank
—
—
Lebanon & Tree City Hotel
—
Loan Modification
related
$12,797,000 · Centier Bk
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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