Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15009 Gray Rd Noblesville, IN 46062-9275

    • Retail space
    • 7,131 SF
    • 2.11 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    5%
    Retail space
    Location Intelligence
    Property ID
    US31-3042320
    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.

    Current Use by Public Records

    • Broccoli Bill's / Food Market / Specialty Food Shop
    • Slapfish / Restaurant
    • Crossroads Catering / Take-out & Catering / Catering Service
    • Hot Toddy's / Bakery / Specialty Food Shop

    Property Details for 15009 Gray Rd

    Year built
    1995
    Construction
    WOOD
    Lot size
    2.11 lot acres
    Property size
    7,131 SF
    Property type
    Retail space
    APN
    29-10-16-000-016.002-013
    APU
    291016000016002013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $450,000
      6.5%
      $415,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $607,000
      Market price range: $344k - $1.15M

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

    Location Insight

    • Map
    • Local Demand
    City
    Noblesville
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.0887
    Latitude
    40.0054
    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
    $13,800
    $167,500
    $343,200
    $510,700
    -
    $167,500
    $343,200
    $510,700

    Comparable in this City

    • Value Estimation
      $1,270,000
      12,839 SF

      14835 Sunny Dell Ln

      RETAIL STORES (PERSONAL SERVICES) • 12,839 SF
      14835 Sunny Dell Ln, Noblesville, IN 46062-6984
      View Details
    • Value Estimation
      $575,000
      4,198 SF

      14795 Sunny Dell Ln

      RETAIL STORES (PERSONAL SERVICES) • 4,198 SF
      14795 Sunny Dell Ln, Noblesville, IN 46062-6983
      View Details
    • Value Estimation by Request
      4,032 SF

      15701 Cherry Tree Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,032 SF
      15701 Cherry Tree Rd, Noblesville, IN 46062
      View Details
    • Value Estimation
      $1,250,000
      14,748 SF

      14625 Gray Rd

      RETAIL STORES (PERSONAL SERVICES) • 14,748 SF
      14625 Gray Rd, Westfield, IN 46062-9274
      View Details
    • Value Estimation by Request
      2,304 SF

      6835 161st St

      RETAIL STORES (PERSONAL SERVICES) • 2,304 SF
      6835 161st St, Noblesville, IN 46062-6945
      View Details
    • Value Estimation by Request
      1,922 SF

      5525 Noble Xing E Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 1,922 SF
      5525 Noble Xing E Pkwy, Noblesville, IN 46062-7196
      View Details

    Similar Nearby for Sale

    • $369,000
      1,323 SF

      Luxury Lakefront Condo with Views

      Rare corner unit with lake views, dock, and garage.
      20971 Shoreline Ct, Noblesville, IN 46062
      View Details
    • $535,000
      2,043 SF

      Waterfront Townhome with Boat Dock

      Low-maintenance waterfront living with boat dock on Morse Reservoir.
      5874 Harbourtown Dr, Noblesville, IN 46062
      View Details
    • Contact for pricing
      22 SF

      Noblesville Development Land Opportunity

      22.60-acre development land near Morse Village in Noblesville, Indiana.
      Stringtown Pike, Noblesville, IN 46062
      View Details
    • Contact for pricing

      Residential Land in Noblesville Area

      22.60 acres of land zoned for single-family residential use.
      21425 Shorevista Ln, Noblesville, IN 46062
      View Details
    • New
      $1,400,000
      43.06 Acres

      Noblesville Acreage with Investment Potential

      43 acres in Noblesville, zoned for one residential unit.
      E 161St St, Noblesville, IN 46062
      View Details
    • $437,500

      Westfield Road Land Available

      1.75 acres of land with direct access to SR 32.
      4005 Westfield Rd, Noblesville, IN 46062
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,340 SF

      Retail Space in Noblesville, IN

      Retail space available in high-traffic Noblesville location.
      14765 Hazel Dell Xing, Noblesville, IN 46062
      View Details
    • $1,200 /Mo
      2,275 SF

      Retail Space in Noblesville Center

      Retail space available in established Noblesville neighborhood shopping center.
      5855 E 211Th St, Noblesville, IN 46062
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Noblesville

      Retail space available for lease in Noblesville, Indiana.
      5985 Promenade Shops Blvd, Noblesville, IN 46062
      View Details
    • Contact for pricing
      99,874 SF

      Noblesville Retail Center Opportunity

      Prime Retail Space, Multiple Units Available
      5956 Promenade Shops Blvd, Noblesville, IN 46062
      View Details
    • Contact for pricing
      58,837 SF

      Noble West Shoppes: Retail Spaces

      Prime Noblesville retail, two spaces available.
      14741 Hazel Dell Xing, Noblesville, IN 46062
      View Details
    • Contact for pricing
      121,800 SF

      Noble West Shoppes: Retail Spaces

      Prime Noblesville retail space, 12 suites available.
      146th St & Hazel Dell Rd, Noblesville, IN 46062
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15009 Gray Rd
    Noblesville, IN 46062-9275
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.