Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1217 Rangeline Rd Carmel, IN 46032-2519
    Back to Search
    Property profile & analytics

    1217 Rangeline Rd Carmel, IN 46032-2519

    View on Map
    • Grocery and convenience stores
    • 76,418 SF
    • 6.59 lot acres
    Off-Market
    Property ID
    US31-0240304
    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
    $9,770,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Murray's Cheese / Bakery / Specialty Food Shop
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Alix Bard / Physician
    • Kroger Pharmacy / Pharmacy
    • The Little Clinic / Medical Clinic

    Property Details for 1217 Rangeline Rd

    Year built
    1994
    Construction
    TYPE NOT SPECIFIED
    Lot size
    6.59 lot acres
    Property size
    76,418 SF
    Property type
    Grocery and convenience stores
    APN
    29-10-31-000-050.000-018
    APU
    291031000050000018

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $14,685,000
      6.5%
      $13,555,000
      7%
      $12,585,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1256
    Latitude
    39.9627
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $132,002
    $2,427,500
    $4,120,200
    $6,547,700
    -
    $2,427,500
    $4,120,200
    $6,547,700

    Comparable in this City

    • Value Estimation
      $1,100,000
      4,980 SF

      10655 Michigan Rd

      CONVENIENCE STORE • 4,980 SF
      10655 Michigan Rd, Carmel, IN 46032
      View Details
    • Value Estimation
      $600,000
      2,640 SF

      545 Rangeline Rd

      CONVENIENCE STORE • 2,640 SF
      545 Rangeline Rd, Carmel, IN 46032-2140
      View Details
    • Value Estimation
      $630,000
      2,925 SF

      10005 Michigan Rd

      CONVENIENCE STORE • 2,925 SF
      10005 Michigan Rd, Carmel, IN 46032-9640
      View Details
    • Value Estimation by Request
      1,000 SF

      1230 Rangeline Rd

      CONVENIENCE STORE • 1,000 SF
      1230 Rangeline Rd, Carmel, IN 46032-2548
      View Details
    • Value Estimation
      $985,000
      6,272 SF

      1221 Rangeline Rd

      CONVENIENCE STORE • 6,272 SF
      1221 Rangeline Rd, Carmel, IN 46032-2519
      View Details
    • Value Estimation
      $4,155,000
      22,023 SF

      10584 Workout Way

      GROCERY, SUPERMARKET • 22,023 SF
      10584 Workout Way, Carmel, IN 46032-7965
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      233,727 SF

      Retail Space in Merchants’ Square

      Retail space available in high-traffic shopping center.
      2140-2208 E 116Th St, Carmel, IN 46032
      View Details
    • Contact for pricing
      14,018 SF

      Carmel Office/Flex Building For Sale

      14,018 SF office/flex building in Carmel's business corridor.
      11690 Technology Dr, Carmel, IN 46032
      View Details
    • $4,250,000
      2,121 SF

      Furnished Office Space For Rent

      Turnkey, furnished office space with secure access and pond views.
      695 Pro Med Ln, Carmel, IN 46032
      View Details
    • Contact for pricing
      34,406 SF

      Carmel Office Space Sublease

      9,464 SF office space in Carmel's Arts District.
      211 W Main St, Carmel, IN 46032
      View Details
    • $3,523,000
      5.42 Acres

      Highpointe on Meridian Land

      5.42 Acres Office Land in Carmel, IN
      0 Illinois St, Carmel, IN 46032
      View Details
    • $4,250,000
      18,138 SF

      Carmel Office Building For Sale

      18,138 SqFt office building in Carmel, Indiana.
      695 Pro-Med Ln, Carmel, IN 46032
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,277 SF

      Retail Space in High-Traffic Area

      Retail space in a high-traffic area with diverse tenants.
      2438 E 116Th St, Carmel, IN 46032
      View Details
    • Contact for pricing
      2,193 SF

      Retail Space in Carmel, Indiana

      Retail space available for lease in Carmel, Indiana.
      11503 Springmill Rd, Carmel, IN 46032
      View Details
    • Contact for pricing
      1,650 SF

      Retail End Cap Suite Available

      Retail suite in high-traffic area near Meijer.
      12505 Old Meridian St, Carmel, IN 46032
      View Details
    • Contact for pricing
      5,743 SF

      Carmel Retail Space For Rent

      Retail space in Carmel's premier trade area.
      14735 Thatcher Ln, Carmel, IN 46032
      View Details
    • Contact for pricing
      1,602 SF

      Carmel Retail Space with Drive-Thru

      Retail space with drive-thru and ATM in Carmel, Indiana.
      650 E Carmel Dr, Carmel, IN 46032
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space in West Carmel

      Former ubreakifix endcap in Starbucks anchored strip center.
      10460 N Michigan Rd, Carmel, IN 46032
      View Details

    Property Visit Statistics

    • Visits by month
      130.1k
    • Visitors by month
      57.8k
    • Avg Time on site
      24 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1217 Rangeline Rd
    Carmel, IN 46032-2519
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1217 Rangeline Rd, Carmel, IN, 46032
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!