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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Warehouses
1440 16th St Indianapolis, IN 46202-2002
Entity Owned
20-yr Hold
Free & Clear
Property ID
US31-0662764
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1948
Construction
TYPE NOT SPECIFIED
Total area
28,790 SF
Lot
2.61 ac (113,561 SF)
Zoning code
ZO01
APN
49-06-34-118-001.000-101
UPID
US31-0662764
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
-
Kirby Risk Electrical Supply Building Supply Electrical Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.57M
Blend (final)
Blend
$1.41M
Owner & transaction history
Kr Indy LLC · 20 yrs held
Kr Indy LLC
since 2006
1 recorded transaction
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.3M
+96.5%
Commercial (general)
$2.2M
+84.8%
Retail stores
$2.2M
+84.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,165,000
Current use
AUTO REPAIR, GARAGE
$2,295,000
Change: +97% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,155,000
Change: +85% · Conversion: Difficult
RETAIL STORES
$2,150,000
Change: +84% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,800,000
Change: +54% · Conversion: Easy
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±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
$49 / 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
$25,488
Tax year 2023
Assessed value
$918,900
Assessed 2023
Previous assessed
$918,900
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$249,800
Assessed improvement
$669,100
Land market value
$249,800
Improvement market value
$669,100
Total market value
$918,900
Applied tax rate
101.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1948
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Total area
28,790 SF
Lot
2.61 ac (113,561 SF)
Zoning code
ZO01
APN
49-06-34-118-001.000-101
UPID
US31-0662764
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
WAREHOUSE, STORAGE Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.2M
RETAIL STORES
Est. value
$2.2M
INDUSTRIAL (GENERAL)
Est. value
$1.8M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1948
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
2.61 ac
Current owner
From public records · entity-resolved
Kr Indy LLC
Entity
Free & Clear · 20 yrs held
Mailing address
PO BOX 5089, LAFAYETTE, IN 47903-5089
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2006
—
Kr Indy LLC
Risk,james K III
Quit Claim Deed
related
—
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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