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    Property profile & analytics

    22 Main St Carmel, IN 46032-1764

    • Retail space
    • 1,500 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimation
    $355,000
    Location Intelligence
    Property ID
    US31-0844646
    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

    • Carmel Music Center / Musical Instrument Store

    Property Details for 22 Main St

    Year built
    1920
    Construction
    WOOD
    Lot size
    0.04 lot acres
    Property size
    1,500 SF
    Property type
    Retail space
    APN
    29-09-25-122-022.000-018
    APU
    290925122022000018

    Description

    This exceptional commercial property, located at 22 W Main St in Carmel, Indiana (46032), presents a unique owner-user opportunity. The building, constructed in 1920, boasts a total of 3,123 square feet across two stories, situated on a 0.03-acre lot (APN: 16-09-25-12-02-022.000). The property is zoned B-2, allowing for a variety of uses. The space is ideally suited for both retail and traditional office uses, offering a versatile layout. The main level encompasses 2,745 square feet, complemented by an additional 378 square feet of finished lower-level space. This single-unit building is classified as Class B. Ample public parking is available in the vicinity, enhancing the property's appeal and accessibility. The asking price for this investment property is $1,500,000. Its prime location within Carmel's Arts & Design District on Main Street ensures high visibility and foot traffic, making it an attractive investment for discerning buyers. The property's blend of historical charm and modern functionality makes it a truly exceptional opportunity.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $360,000

    • CAP approach

      CAP return
      Estimation
      6%
      $340,000
      6.5%
      $375,000
      7%
      $405,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $390,000
      Geo Method
      $405,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $375,000
      Retail
      $375,000
      Mixed-Use
      $310,000
      Hospitality
      $400,000
      Educational
      $330,000
      Residential Income
      $405,000
      Energy
      $400,000
      Income-Based Land
      $330,000
      Food Service
      $370,000

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1276
    Latitude
    39.9786
    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
    $2,841
    $90,800
    $50,100
    $140,900
    -
    $90,800
    $50,100
    $140,900

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      303 Carmel Dr

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    • Value Estimation
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      2,327 SF

      Rangeline Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,327 SF
      Rangeline Rd, Carmel, IN 46032
      View Details

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    22 Main St
    Carmel, IN 46032-1764
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    Realmo Value Estimation

    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.

    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.

    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
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