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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Banks
205 Carmel Dr Carmel, IN 46032-2634
Entity Owned
Absentee Owner
Free & Clear
Property ID
US31-0508595
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2012
Construction
WOOD
Total area
8,545 SF
Lot
1.17 ac (50,965 SF)
APN
29-10-31-000-027.005-018
UPID
US31-0508595
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
-
Fifth Third Mortgage - Lisa Fox Loan Service Bank
-
Fifth Third Bank & ATM Bank Loan Service
-
New Hope Orthopedics & Sport Physician
-
Fifth Third Securities - Alain Brown Financial Advisor
-
Fifth Third Preferred - David Strickland Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$735k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$880k
Owner & transaction history
Fifth Third Financial Corporation
Fifth Third Financial Corporation
since 2025
6 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
by Request
ML approach
$735,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,345,000
Current use
WAREHOUSE, STORAGE
$1,205,000
Change: -10% · Conversion: Difficult
RESTAURANT
$1,105,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$880k
Range $792k – $968k · ±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
$103 / 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
$51,148
Tax year 2023
Assessed value
$2,537,100
Assessed 2023
Previous assessed
$2,537,100
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,053,000
Assessed improvement
$1,484,100
Land market value
$1,053,000
Improvement market value
$1,484,100
Total market value
$2,537,100
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2012
Construction
WOOD
Heating
NONE
Stories
2
Total area
8,545 SF
Lot
1.17 ac (50,965 SF)
APN
29-10-31-000-027.005-018
UPID
US31-0508595
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
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
FINANCIAL BUILDING Current
WAREHOUSE, STORAGE
RESTAURANT
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
2012
Construction
WOOD
Heating
NONE
Stories
2
Lot
1.17 ac
Current owner
From public records · entity-resolved
Fifth Third Financial Corporation
Entity
Free & Clear · 0 yrs held
Mailing address
38 FOUNTAIN SQ PLZ, CINCINNATI, OH 45202-3102
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2025
$2,050,000
Fifth Third Financial Corporation
Fifth Third Bank National Associati
Special Warranty Deed
—
Dec 23, 2011
—
Fifth Third Bk
Caa Properties LLC
Warranty Deed
—
May 11, 2009
—
Caa Properties LLC
Kaiser,craig A
Quit Claim Deed
related
—
Apr 14, 2009
—
Caa Properties LLC
Kaiser H L & E H Trust
Quit Claim Deed
related
—
Oct 17, 2005
—
Kaiser,harold L & E H Trust
Kaiser,harold L
Quit Claim Deed
related
—
—
—
Caa Properties LLC
—
Deed Of Trust
related
$652,499 · Community Bank NA
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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