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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Specialty properties
1305 Broad Ripple Ave Indianapolis, IN 46220-2083
Entity Owned
10-yr Hold
Free & Clear
Property ID
US31-1209952
Property profile
Verified
Property type
Specialty properties
Use group
FUNERAL HOME
Year built
1954
Construction
TYPE NOT SPECIFIED
Total area
16,172 SF
Lot
1.51 ac (65,819 SF)
Zoning code
ZO01
APN
49-03-36-128-001.000-801
UPID
US31-1209952
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
-
Flanner Buchanan - Broad Ripple Funeral and Cremation Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$420k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$642k
Blend (final)
Blend
$530k
Owner & transaction history
Flanner & Buchanan INC · 10 yrs held
Flanner & Buchanan INC
since 2015
2 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$800,000
+64.8%
Commercial (general)
$660,000
+35.9%
Medical building
$640,000
+32.3%
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 Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis 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
by Request
ML approach
$420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CEMETERY, FUNERAL HOME, MORTUARY (COMMERCIAL)
$485,000
Current use
OFFICE BUILDING
$800,000
Change: +65% · Conversion: Difficult
COMMERCIAL (GENERAL)
$660,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$640,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±10%
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
$33 / 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
$26,334
Tax year 2023
Assessed value
$962,400
Assessed 2023
Previous assessed
$962,400
+0.0% YoY
Effective rate
2.74%
On assessed value
Assessed land
$579,200
Assessed improvement
$383,200
Land market value
$579,200
Improvement market value
$383,200
Total market value
$962,400
Applied tax rate
801.0000
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
Specialty properties
Use group
FUNERAL HOME
Status
Off-Market
Year built
1954
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
16,172 SF
Lot
1.51 ac (65,819 SF)
Zoning code
ZO01
APN
49-03-36-128-001.000-801
UPID
US31-1209952
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
CEMETERY, FUNERAL HOME, MORTUARY (COMMERCIAL) Current
Est. value
$485,000
OFFICE BUILDING
Est. value
$800,000
COMMERCIAL (GENERAL)
Est. value
$660,000
MEDICAL BUILDING
Est. value
$640,000
CEMETERY, FUNERAL HOME, MORTUARY (COMMERCIAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1954
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
1.51 ac
Current owner
From public records · entity-resolved
Flanner & Buchanan INC
Entity
Free & Clear · 10 yrs held
Mailing address
2020 MONTCALM ST, INDIANAPOLIS, IN 46202-1129
Ownership since
2015
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
Dec 15, 2015
—
Flanner & Buchanan INC
Buchanan Paul H JR
Quit Claim Deed
—
Nov 7, 2014
—
Flanner & Buchanan INC
—
Grant Deed
related
$7,642,301 · Brian K Buchanan
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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