Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1700 86th St Indianapolis, IN 46240

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1700 86th St Indianapolis, IN 46240

    View on Map
    • Strip malls
    • 31,328 SF
    • 3.81 lot acres
    Off-Market
    Last Sale Oct 11, 2023
    Property ID
    US31-0634799
    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.
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fur Bee. Pet groomer / Pet Grooming Service
    • NORTH VIEW MALL / Shopping Center & Mall

    Property Details for 1700 86th St

    Year built
    1972
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.81 lot acres
    Property size
    31,328 SF
    Zone code
    ZO01
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    49-03-13-119-003.000-800
    APU
    490313119003000800

    Description

    This exceptional 2,442 square foot retail space is available for lease at Northview Mall, located at 1700 E 86th St, Indianapolis, IN 46240, within Marion County. The property is situated in a prime corner location within the thriving Nora neighborhood, offering excellent visibility and accessibility. This multi-tenant retail building provides a strong opportunity for businesses seeking a presence in a high-traffic area. The space is currently vacant and ready for immediate occupancy. The location boasts impressive demographics, with an estimated population of 57,363 within a 3-mile radius, an average household income of $139,152, and over 63,000 employees working at the 6,110 businesses in the immediate vicinity. This strategic location provides convenient access to both Indianapolis and the surrounding Hamilton County suburbs, ensuring a robust customer base. The property type is retail, specifically categorized as neighborhood and multi-tenant. This presents a unique opportunity to establish or expand a business in a dynamic and prosperous community. Interested parties are encouraged to inquire for further details and leasing information.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $688,000
      Market price range: $276k - $689k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $465,000
      Current use
      COMMERCIAL (GENERAL)
      $695,000
      Change: +49% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1309
    Latitude
    39.9131
    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
    $102,153
    $1,824,900
    $2,199,900
    $4,024,800
    -
    $1,824,900
    $2,199,900
    $4,024,800

    Comparable in this City

    • Value Estimation by Request
      3.43 Acres

      8571 Keystone Xingcx

      SHOPPING CENTER, STRIP CENTER • 3.43 Acres
      8571 Keystone Xingcx, Indianapolis, IN 46240
      View Details
    • Value Estimation
      $510,000
      29,190 SF

      4825 96th St

      SHOPPING CENTER, STRIP CENTER • 29,190 SF
      4825 96th St, Indianapolis, IN 46240-3800
      View Details
    • Value Estimation by Request
      15,096 SF

      7411 Keystone Ave

      SHOPPING CENTER, STRIP CENTER • 15,096 SF
      7411 Keystone Ave, Indianapolis, IN 46240-3374
      View Details
    • Value Estimation by Request
      1,307 SF

      8507 Westfield Blvd

      SHOPPING CENTER, STRIP CENTER • 1,307 SF
      8507 Westfield Blvd, Indianapolis, IN 46240-2369
      View Details
    • Value Estimation
      $685,000
      58,057 SF

      7225 Keystone Ave

      SHOPPING CENTER, STRIP CENTER • 58,057 SF
      7225 Keystone Ave, Indianapolis, IN 46240-3291
      View Details
    • Value Estimation by Request
      18,361 SF

      3141 96th St

      SHOPPING CENTER, STRIP CENTER • 18,361 SF
      3141 96th St, Indianapolis, IN 46240
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Restaurant/Retail Opportunity in Keystone Crossing

      Former restaurant with frontage on 96th Street in Indianapolis.
      3835 E 96Th St, Indianapolis, IN 46240
      View Details
    • Contact for pricing

      Prime Retail Outlot Parcel

      0.65-acre retail parcel in high-demand Indianapolis location.
      8520 Westfield Blvd, Indianapolis, IN 46240
      View Details
    • Contact for pricing

      Land in 96th Street Corridor

      Commercial land available in the new 96th St corridor.
      2850 E 96Th St, Indianapolis, IN 46240
      View Details
    • Contact for pricing

      Keystone Crossing Affordable Office Space

      Full-service office space in a prime, convenient Indianapolis location.
      8465 Keystone Xing, Indianapolis, IN 46240
      View Details
    • $335,000
      Pending

      Indianapolis Duplex with Garages

      Two-bedroom duplex on a large lot with garage parking.
      540 E 91St St, Indianapolis, IN 46240
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,407 SF

      Retail Space Near Keystone Crossing

      Commercial leasing opportunity in a prime Indianapolis location.
      8487 Union Chapel Rd, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      1,610 SF

      Retail Space in Clearwater Shoppes

      Retail space available in a prominent Indianapolis commercial area.
      3841-3981 E 82Nd St, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Indianapolis Center

      Retail space available in busy Indianapolis shopping center.
      7225-7235 N Keystone Ave, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Busy Center

      Retail space available in a Walmart-anchored shopping center.
      7255 N Keystone Ave, Indianapolis, IN 46240
      View Details
    • Contact for pricing

      Retail Endcap Space For Lease

      3,200 SF endcap available in high-traffic Indianapolis shopping corridor.
      8503 Westfield Blvd, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      1,147 SF

      Retail Space Near Grocery Store

      Retail space adjacent to Fresh Thyme Market on 86th.
      2258-2348 W 86Th St, Indianapolis, IN 46240
      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.
    1700 86th St
    Indianapolis, IN 46240
    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.
    Sign Up Successful!
    You now have access to more from Realmo!