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Property profile & analytics
OFF-MARKET
Estimated value
$2,320,000
Commercial land
1155 Rangeline Rd, Carmel, IN 46032-2545
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1897465
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1995
Construction
TYPE NOT SPECIFIED
Total area
13,402 SF
Lot
1.88 ac (81,893 SF)
APN
29-10-31-002-001.000-018
UPID
US31-1897465
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
$2.55M
CAP Approach
CAP
$2.79M
Comparable Approach
Comparable
$2.71M
Blend (final)
Blend
$2.32M
Owner & transaction history
Carmel Development V LLC · 4 yrs held
Carmel Development V LLC
since 2022
Last sale
$1.8M
2 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
$2,280,000
ML approach
$2,545,000
CAP Approach
CAP Return
Estimation
6%
$3,015,000
6.5%
$2,785,000
7%
$2,585,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,715,000
Current use
Blend value · Realmo final
$2.32M
Range $2.09M – $2.55M · ±10% · vs last sale $1.80M (Apr 29 2022)
Last sale anchor
$1.80M
Apr 29 2022
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
$173 / 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
$21,954
Tax year 2023
Assessed value
$1,089,000
Assessed 2023
Previous assessed
$1,089,000
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,089,000
Land market value
$1,089,000
Total market value
$1,089,000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1995
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
13,402 SF
Lot
1.88 ac (81,893 SF)
APN
29-10-31-002-001.000-018
UPID
US31-1897465
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
$3.7M
COMMERCIAL (GENERAL) Current
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
1995
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.88 ac
Current owner
From public records · entity-resolved
Carmel Development V LLC
Entity
Mailing address
20 W CARMEL DR STE #101, CARMEL, IN 46032-3370
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2022
$1,800,000
Carmel Development V LLC
The Huntington National Bank
Warranty Deed
$27,800,000 · Lake City Bank
Oct 8, 2015
—
Huntington Natl Bk
Flynn & Zinkan Realty Co LLC
Grant 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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