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Property profile & analytics
OFF-MARKET
Estimated value
$21,840,000
Outlet malls
1424 Carmel Dr Carmel, IN 46032-8783
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0998870
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1994
Construction
TYPE NOT SPECIFIED
Total area
218,285 SF
Lot
25.94 ac (1,129,946 SF)
APN
29-09-26-000-015.000-018
UPID
US31-0998870
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
-
Meijer Pharmacy Pharmacy
-
Tesla Supercharger Electric Vehicle Charging Station
-
Electrify America Charging Station Electric Vehicle Charging Station
-
Western Union Bank Credit Union
-
Quick-Tag (Bike/Boat/Book/etc) Store Pet Store & Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$21.84M
Owner & transaction history
City Of Carmel · 7 yrs held
City Of Carmel
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Carmel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carmel 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$100 / 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
$239,742
Tax year 2023
Assessed value
$11,879,100
Assessed 2023
Previous assessed
$11,879,100
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$6,582,500
Assessed improvement
$5,296,600
Land market value
$6,582,500
Improvement market value
$5,296,600
Total market value
$11,879,100
Applied tax rate
18.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1994
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
218,285 SF
Lot
25.94 ac (1,129,946 SF)
APN
29-09-26-000-015.000-018
UPID
US31-0998870
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
Building & site characteristics
From public records
Year built
1994
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
25.94 ac
Current owner
From public records · entity-resolved
City Of Carmel
Entity
Free & Clear · 7 yrs held
Mailing address
2929 WALKER AVE NW, GRAND RAPIDS, MI 49544-6402
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2019
—
City Of Carmel
Meijer Stores LP
Warranty Deed
—
Oct 27, 2017
—
City Of Carmel Indiana
Meijer Stores LP
Warranty Deed
—
Oct 31, 2013
—
Ecc Carmel Meijer Shops II LLC
Meijer Stores Limited Partnership
Special Warranty Deed
—
Mar 3, 2008
—
Terre Carmel East LLC
Meijer Stores
Warranty Deed
$2,700,000 · Lasalle National Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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