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Property profile & analytics
FOR SALE
Commercial land
11405 Springmill Rd Carmel, IN 46032
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0690021
For Sale
1 / 4
$1,060,000
11405 Springmill Rd, Carmel, IN 46032
View Listing →
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1989
Total area
1,299 SF
Lot
4.47 ac (194,713 SF)
APN
29-13-02-000-001.000-018
UPID
US31-0690021
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
by Request
Blend (final)
Blend
$1.06M
Owner & transaction history
Bridges Land Jv LLC · 2 yrs held
Bridges Land Jv LLC
since 2023
Last sale
$1.4M
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
$816 / 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
$150
Tax year 2023
Assessed value
$6,700
Assessed 2023
Previous assessed
$6,700
+0.0% YoY
Effective rate
2.24%
On assessed value
Assessed land
$6,700
Land market value
$6,700
Total market value
$6,700
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Sale
Year built
1989
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
7
Bathrooms
2
Total area
1,299 SF
Lot
4.47 ac (194,713 SF)
APN
29-13-02-000-001.000-018
UPID
US31-0690021
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
7
Bathrooms
2
Lot
4.47 ac
Current owner
From public records · entity-resolved
Bridges Land Jv LLC
Entity
Mailing address
8902 N MERIDIAN ST STE #205, INDIANAPOLIS, IN 46260-5369
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2023
$1,367,131
Bridges Land Jv LLC
Jec Partnership LP
Limited Warranty Deed
$950,000 · Stock Yards Bank & Trust Co
Jun 23, 2023
—
Bridges Mob Jv LLC
Jec Partnerswhip LP
Limited Warranty Deed
—
Oct 27, 2020
—
Jec Ptshp LP
—
Deed
related
$115,000 · Mark Pittman
Apr 5, 2017
—
City Of Carmel Indiana
Jec Ptshp LP
Warranty Deed
—
May 21, 2013
—
The Bridges I LLC
Jec Partnership LP
Warranty Deed
—
Jan 25, 2013
—
Jec Ptshp LP
Jec Ptshp II LLC
Quit Claim Deed
—
Feb 27, 2012
—
Jec Ptshp LP
Jec Ptshp LP
Quit Claim Deed
related
—
—
—
Jec Ptshp LP
—
Deed Of Trust
related
$115,000 · Mark Pittman
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?”
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