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    12065 Michigan Rd Zionsville, IN 46077
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    Property profile & analytics

    12065 Michigan Rd, Zionsville, IN 46077

    View on Map
    • Commercial real estate
    • 2.24 lot acres
    Off-Market
    Property ID
    US31-2064890
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 12065 Michigan Rd

    Lot size
    2.24 lot acres
    Property type
    Commercial real estate
    APN
    06-08-36-000-050.021-006

    Description

    This exceptional 2.24-acre commercial land parcel in Zionsville, Indiana, presents a remarkable investment opportunity. Located at the highly visible intersection of State Road 421/North Michigan Road and W. 121st Street (Greenfield Road), this property benefits from its prime position within a rapidly expanding area of Zionsville. The site boasts two existing curb cuts, simplifying development. Its Urban B-1 zoning allows for a variety of uses, including banks, childcare centers, retail establishments (excluding gas stations), and medical/dental facilities. The property's strategic location places it near major amenities such as Independence Village Zionsville, Grand Brook Memory Care, and is within two miles of several schools, including Zionsville Creekside Elementary, Carmel College Wood Elementary, and Zionsville High School. Nearby developments, including the Pittman Farms 48-acre development and Fischer Homes Chelsea Park, further underscore the area's robust growth trajectory. This lighted corner lot offers unparalleled visibility and accessibility, making it ideal for businesses seeking a prominent presence in a thriving community. The property's APN is 06-08-36-000-050.021-006. The asking price is $1,850,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Zionsville
    County
    Boone
    State
    Indiana
    Longitude
    -86.246993607229
    Latitude
    39.961976781895

    Comparable in this City

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      Versatile Lot in Growing Area

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    Similar Nearby for Sale

    • $199,000
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      Residential Lots in Holliday Farms

      Residential lots in Zionsville's Holliday Farms community with social membership.
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    • $531,250

      Land For Sale

      Land available for sale in Zionsville, Indiana.
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      Zionsville Development Opportunity

      Fully-zoned development land in Zionsville, Indiana.
      10801 East 300 South, Zionsville, IN 46077
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    • $495,000
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      Versatile Lot in Growing Area

      1.17 acre lot suitable for residential or commercial development.
      10048 E Taylor Ave, Zionsville, IN 46077
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      Zionsville Commercial Land - 2000 SF

      Prime Zionsville location, 2000 sq ft commercial lot.
      106th St & Main St, Zionsville, IN 46077
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    • $750,000
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      Zionsville Residential Lots with Creek

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    Similar Nearby for Lease

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      Whitestown Land for Lease

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      Zionsville Development Land For Rent

      Zoned development land in Zionsville, Indiana, for rent.
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    • $35 SF/Yr

      Class A Retail Space Zionsville

      Premier retail space in Zionsville with high visibility and accessibility.
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      19,159 SF

      Zionsville Retail Center - Main Street

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      960 SF

      Retail Space in Zionsville, IN

      1620 SF retail space in high-traffic Zionsville corridor.
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      14,000 SF

      Zionsville Retail, Office, Restaurant Spaces

      Retail, office, and restaurant spaces available for lease.
      550 East 550 South, Zionsville, IN 46077
      View Details
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    Zionsville, IN 46077
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    12065 Michigan Rd, Zionsville, IN, 46077
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