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Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Office Spaces
12514 116th St Fishers, IN 46037-8907
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0958055
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2001
Construction
WOOD
Total area
3,004 SF
Lot
0.91 ac (39,640 SF)
APN
29-11-34-017-001.000-020
UPID
US31-0958055
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
-
Bach to Rock Vocational School Training Center
-
King Kitchens Hardware & Home Improvement Kitchen & Bath Showroom
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.53M
Blend (final)
Blend
$1.26M
Owner & transaction history
M2r LLC · 1 yrs held
M2r LLC
since 2025
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.3M
+33.7%
Retail stores
$995,000
+2.2%
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 Fishers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fishers 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
$1,175,000
ML approach
$1,255,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$975,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,305,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$995,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$870,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±10% · vs last sale $1.30M (Apr 3 2025)
Last sale anchor
$1.30M
Apr 3 2025
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
$419 / 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
$24,884
Tax year 2023
Assessed value
$1,148,300
Assessed 2023
Previous assessed
$1,148,300
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$632,900
Assessed improvement
$515,400
Land market value
$632,900
Improvement market value
$515,400
Total market value
$1,148,300
Applied tax rate
20.0000
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
2001
Construction
WOOD
Heating
NONE
Stories
1
Total area
3,004 SF
Lot
0.91 ac (39,640 SF)
APN
29-11-34-017-001.000-020
UPID
US31-0958055
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
$975,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
RETAIL STORES
Est. value
$995,000
AUTO REPAIR, GARAGE
Est. value
$870,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
2001
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
M2r LLC
Entity
Free & Clear · 1 yrs held
Mailing address
9841 EQUESTRIAN WAY, ZIONSVILLE, IN 46077-7602
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2025
$1,300,000
M2r LLC
Majestic Fishers LLC
Warranty Deed
—
Sep 30, 2020
—
Majestic Fishers LLC
First Merchants Bank
Special Warranty Deed
$1,284,000 · Old National Bank
Mar 4, 2019
—
Ko Capital One LLC
—
Trustees Deed
related
$2,500,000 · Mutual Bk
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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