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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Office Spaces
1081 3rd SW Ave Carmel, IN 46032-7595
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US31-0650495
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1983
Construction
WOOD
Total area
5,000 SF
Lot
0.43 ac (18,731 SF)
APN
29-09-36-000-041.003-018
UPID
US31-0650495
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
-
Fit Body Studio Gym & Fitness Center
-
Indiana Integrative Hypnosis, LLC Alternative Medicine Practice
-
Third Avenue Motors Inc. Car Dealership
-
Kitty the trainer Gym & Fitness Center
-
Forever Fit Carmel Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$915k
Blend (final)
Blend
$655k
Owner & transaction history
Alo Third Ave LLC
Alo Third Ave LLC
since 2026
Last sale
$668,700
3 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
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $669k (Dec 16 2025)
Last sale anchor
$669k
Dec 16 2025
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
$131 / 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
$7,474
Tax year 2023
Assessed value
$367,000
Assessed 2023
Previous assessed
$367,000
+0.0% YoY
Effective rate
2.04%
On assessed value
Assessed land
$172,000
Assessed improvement
$195,000
Land market value
$172,000
Improvement market value
$195,000
Total market value
$367,000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1983
Construction
WOOD
Heating
NONE
Stories
1
Total area
5,000 SF
Lot
0.43 ac (18,731 SF)
APN
29-09-36-000-041.003-018
UPID
US31-0650495
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
1983
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Alo Third Ave LLC
Entity
Mailing address
13277 ILLINOIS ST, CARMEL, IN 46032-9468
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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
Mar 27, 2026
—
Alo Third Ave LLC
Thornberry Group Spe LLC
Special Warranty Deed
$630,000 · Citizens State Bank Of New Castle
Dec 16, 2025
$668,700
Thornberry Group Spe LLC
Thornberry Investments LLC
Warranty Deed
—
Dec 17, 2014
—
Thornberry Investments LLC
Thornberry,phillip B & Patricia L
Quit Claim Deed
related
—
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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