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Property profile & analytics
OFF-MARKET
Estimated value
$39,485,000
Medical Office Space
201 Pennsylvania Pkwy Carmel, IN 46280-2301
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0653257
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1994
Construction
TYPE NOT SPECIFIED
Total area
130,270 SF
Lot
7.29 ac (317,552 SF)
APN
29-13-11-418-001.105-018
UPID
US31-0653257
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$26.55M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$39.49M
Owner & transaction history
Indiana University Health INC · 3 yrs held
Indiana University Health INC
since 2022
Last sale
$40.2M
2 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
Method
Estimation
Statistic approach
$50,950,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$28,765,000
6.5%
$26,550,000
7%
$24,655,000
Blend value · Realmo final
$39.49M
Range $35.54M – $43.43M · ±10% · vs last sale $40.22M (Sep 6 2022)
Last sale anchor
$40.22M
Sep 6 2022
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
$303 / 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
$310,587
Tax year 2023
Assessed value
$15,406,100
Assessed 2023
Previous assessed
$15,406,100
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$3,841,800
Assessed improvement
$11,564,300
Land market value
$3,841,800
Improvement market value
$11,564,300
Total market value
$15,406,100
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1994
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Total area
130,270 SF
Lot
7.29 ac (317,552 SF)
APN
29-13-11-418-001.105-018
UPID
US31-0653257
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
3
Lot
7.29 ac
Current owner
From public records · entity-resolved
Indiana University Health INC
Entity
Free & Clear · 3 yrs held
Mailing address
950 N MERIDIAN ST STE #800, INDIANAPOLIS, IN 46204-3910
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Sep 6, 2022
$40,216,985
Indiana University Health INC
Hta Medical Portfolio 3 LLC
Special Warranty Deed
—
Jul 7, 2008
—
G & E Healthcare Reit Medical
Hcpi Of Indiana LLC
Grant Deed
$58,000,000 · Fifth Third 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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