Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,560,000
Office Spaces
11405 Pennsylvania St Carmel, IN 46032-6942
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-3549608
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1990
Construction
TYPE NOT SPECIFIED
Total area
38,502 SF
Lot
3.72 ac (162,043 SF)
APN
29-13-02-000-011.004-018
UPID
US31-3549608
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
-
Modern Tool Supply Mill Building Supply
-
Snap Decking Industrial Manufacturer Production Facility
-
Bailey & Wood Financial Group Loan Service Bank
-
Premier Total Healthcare and Premier Elite Medical Clinic
-
Posterity Health: Dr. Jason Kovac Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.56M
Owner & transaction history
146 148 West Carmel Drive LLC · 5 yrs held
146 148 West Carmel Drive LLC
since 2021
7 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$144 / 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
$82,588
Tax year 2023
Assessed value
$4,092,900
Assessed 2023
Previous assessed
$4,092,900
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,176,000
Assessed improvement
$2,916,900
Land market value
$1,176,000
Improvement market value
$2,916,900
Total market value
$4,092,900
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
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
38,502 SF
Lot
3.72 ac (162,043 SF)
APN
29-13-02-000-011.004-018
UPID
US31-3549608
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
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
3.72 ac
Current owner
From public records · entity-resolved
146 148 West Carmel Drive LLC
Entity
Mailing address
298 W CARMEL DR, CARMEL, IN 46032-2528
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2021
—
146 148 West Carmel Drive LLC
Jordan Pennwood I And II LLC
Warranty Deed
$6,920,000 · Kirby II 138 LLC
Oct 19, 2018
—
Kimmel Square LLC
—
Deed
related
$532,106 · First Bk
Oct 12, 2016
—
Kimmel Square LLC
Pennwood LLC
Special Warranty Deed
$900,000 · Pennwood LLC
Jun 20, 2012
—
Jsg-pennwood II LLC
Jsg-pennwood LLC
Quit Claim Deed
related
$5,680,000 · First Fin'l Bk&tr
Mar 1, 2012
—
Jsg-pennwood II LLC
Jsg-pennwood LLC
Quit Claim Deed
related
—
Nov 8, 2005
—
Zeller-pennwood LLC
Scott Walter & S Trust
Grant Deed
$5,400,000 · American Equity Inv Life Ins
—
—
Kimmel Square LLC
—
Deed Of Trust
related
$532,106 · First 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 11405 Pennsylvania St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
