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    1250 City Ctr Dr Carmel, IN 46032-3810

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    1250 City Ctr Dr Carmel, IN 46032-3810

    View on Map
    • Manufacturing properties
    • 16,728 SF
    • 4.26 lot acres
    Off-Market
    Last Sale Sep 15, 2021
    Property ID
    US31-2844778
    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
    $1,615,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Range USA Indy North / Shooting Range / Gun Club

    Property Details for 1250 City Ctr Dr

    Year built
    2014
    Construction
    TYPE NOT SPECIFIED
    Lot size
    4.26 lot acres
    Property size
    16,728 SF
    Property type
    Manufacturing properties
    APN
    29-09-35-000-020.003-018
    APU
    290935000020003018

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,825,000
      6.5%
      $1,685,000
      7%
      $1,565,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,120,000
      Current use
      WAREHOUSE, STORAGE
      $2,365,000
      Change: +111% Conversion: Easy
      RESTAURANT
      $2,165,000
      Change: +94% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,945,000
      Change: +74% Conversion: Easy
      RETAIL STORES
      $1,745,000
      Change: +56% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,250,000
      Change: +12% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,020,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1512
    Latitude
    39.9657
    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
    $49,419
    $1,036,400
    $1,411,200
    $2,447,600
    -
    $1,036,400
    $1,411,200
    $2,447,600

    Comparable in this City

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      611 3rd SW Ave

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      437 Gradle Dr

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    • Value Estimation
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      177 Carmel Dr

      MANUFACTURING (LIGHT) • 16,240 SF
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    • Value Estimation
      $615,000
      19,565 SF

      1092 3rd SW Ave

      MANUFACTURING (LIGHT) • 19,565 SF
      1092 3rd SW Ave, Carmel, IN 46032-2524
      View Details
    • Value Estimation
      $1,450,000
      19,600 SF

      599 3rd SW Ave

      MANUFACTURING (LIGHT) • 19,600 SF
      599 3rd SW Ave, Carmel, IN 46032-2084
      View Details

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      14,018 SF

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      1.00 Acre

      Carmel Commercial Land in Weston

      Prime commercial lot in high-growth Carmel location.
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      Redevelopment Site in Prime Location

      Premier redevelopment site suitable for headquarters or mixed-use project.
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      84,963 SF

      Two-Building Office Portfolio in Carmel

      Two-building office portfolio totaling ±84,963 RSF on 7.64 acres.
      11405-11495 N Pennsylvania St, Carmel, IN 46032
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    • $750,000
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      Carmel Residential Lots For Sale

      Prime residential land in a desirable Carmel location.
      320 2Nd St NE, Carmel, IN 46032
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    • $400,000
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      Carmel Land Ready For Development

      Carmel property designated for commercial development, sold as commercial.
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    Similar Nearby for Lease

    • $15 SF/Yr

      Carmel Flex-Industrial Space Available

      Adaptable flex space suitable for various business uses.
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    • Contact for pricing
      26,220 SF

      Hamilton Crossing Flex/Industrial Space

      Flex/Industrial space in Hamilton Crossing Office Park for lease.
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    • Sponsored
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      Discover many ways to work your way in IN, Carmel - Congressional Blvd
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    • Contact for pricing
      10,488 SF

      Curley Building: Prime Retail/Industrial Site

      10,488 SF, 3.6 Acres, High Traffic
      105 Carmel Dr, Carmel, IN 46032
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    • $14 SF/Yr
      76,735 SF

      Carmel Tech Center Warehouse Space

      76,735 SF Warehouse, Multiple Suites Available
      12202 Hancock St, Carmel, IN 46032
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    • Contact for pricing

      Carmel Warehouse and Industrial Complex

      Industrial complex with multiple buildings and convenient highway access.
      4305-4353 W 96Th St, Carmel, IN 46032
      View Details
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    1250 City Ctr Dr
    Carmel, IN 46032-3810
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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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