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Property profile & analytics
OFF-MARKET
Estimated value
$7,835,000
Office Spaces
11455 Meridian St Carmel, IN 46032-1624
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-3518835
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1984
Construction
TYPE NOT SPECIFIED
Total area
32,804 SF
Lot
3.64 ac (158,558 SF)
APN
29-13-02-000-007.002-018
UPID
US31-3518835
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
-
St. Vincent Outpatient Treatment Center Medical Clinic
-
Indiana Travel Medicine Medical Group Medical Clinic
-
Janet Turkle MD Physician Medical Clinic
-
Option Care Health Pharmacy
-
Belcher Christopher MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.82M
Comparable Approach
Comparable
$8.87M
Blend (final)
Blend
$7.84M
Owner & transaction history
Echo Carmel Mob LLC · 2 yrs held
Echo Carmel Mob LLC
since 2023
Last sale
$7.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$10.9M
+19.8%
Auto repair, garage
$9.5M
+4.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$7,380,000
6.5%
$6,815,000
7%
$6,325,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,090,000
Current use
RETAIL STORES
$10,890,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,480,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$7.84M
Range $7.05M – $8.62M · ±10% · vs last sale $7.83M (Nov 30 2023)
Last sale anchor
$7.83M
Nov 30 2023
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
$239 / 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
$71,845
Tax year 2023
Assessed value
$3,560,000
Assessed 2023
Previous assessed
$3,560,000
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,602,500
Assessed improvement
$1,957,500
Land market value
$1,602,500
Improvement market value
$1,957,500
Total market value
$3,560,000
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
1984
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
32,804 SF
Lot
3.64 ac (158,558 SF)
APN
29-13-02-000-007.002-018
UPID
US31-3518835
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
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$9.1M
RETAIL STORES
Est. value
$10.9M
AUTO REPAIR, GARAGE
Est. value
$9.5M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
1984
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
3.64 ac
Current owner
From public records · entity-resolved
Echo Carmel Mob LLC
Entity
Free & Clear · 2 yrs held
Mailing address
200 W MONROE ST STE #2050, CHICAGO, IL 60606-5009
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2023
$7,825,000
Echo Carmel Mob LLC
In Meridian LLC
Limited Warranty Deed
—
Apr 4, 2018
—
In Meridian LLC
Kaylian LLC
Limited Warranty Deed
$5,040,000 · Tcf National Bank
Dec 11, 2017
—
Kaylian LLC
—
Deed
related
—
Mar 28, 2006
—
Kaylian LLC
—
Deed Of Trust
related
$1,650,000 · Fifth Third Bank
Dec 29, 2005
—
Kaylian LLC
Three Penn Mark Plaza LLC
Grant Deed
$3,355,000 · Fifth Third Bank
—
—
Kaylian LLC
—
Deed Of Trust
related
$2,915,000 · National Bk/indianapolis
—
—
Kaylian LLC
—
Loan Modification
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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