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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Warehouses
2230 Tibbs Ave Indianapolis, IN 46241
Entity Owned
~
Est. High Equity
Property ID
US31-0566210
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1949
Construction
TYPE NOT SPECIFIED
Total area
48,025 SF
Lot
3.21 ac (139,828 SF)
APN
49-11-20-111-002.000-970
UPID
US31-0566210
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
$740k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$661k
Blend (final)
Blend
$940k
Owner & transaction history
Top 22 LLC
Top 22 LLC
since 2026
4 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 Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis 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
$740,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±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
$20 / 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
$43,206
Tax year 2023
Assessed value
$1,289,800
Assessed 2023
Previous assessed
$1,289,800
+0.0% YoY
Effective rate
3.35%
On assessed value
Assessed land
$250,100
Assessed improvement
$1,039,700
Land market value
$250,100
Improvement market value
$1,039,700
Total market value
$1,289,800
Applied tax rate
970.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1949
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
48,025 SF
Lot
3.21 ac (139,828 SF)
APN
49-11-20-111-002.000-970
UPID
US31-0566210
Jurisdiction
MARION
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
1949
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
3.21 ac
Current owner
From public records · entity-resolved
Top 22 LLC
Entity
Mailing address
500 E 96TH ST STE #180, INDIANAPOLIS, IN 46240-3733
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2026
—
Top 22 LLC
Top Properties LLC
Special Warranty Deed
—
Aug 25, 2025
—
Top Properties LLC
G & D Realty III LLC
Special Warranty Deed
—
Aug 26, 2021
—
G & D Realty III LLC
Ashley Investments LLC
Warranty Deed
—
May 8, 2006
—
Ashley Investments LLC
Tibbs Avenue LLC
Warranty Deed
$956,000 · Homefed 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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