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Property profile & analytics
OFF-MARKET
Estimated value
$2,340,000
Office Spaces
2315 New York St Indianapolis, IN 46201
Entity Owned
12-yr Hold
Free & Clear
Property ID
US31-0596053
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2014
Construction
TYPE NOT SPECIFIED
Total area
16,489 SF
Lot
0.74 ac (32,365 SF)
Zoning code
ZO01
APN
49-10-06-156-010.000-101
UPID
US31-0596053
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
$3.08M
Comparable Approach
Comparable
$2.28M
Blend (final)
Blend
$2.34M
Owner & transaction history
Indy East Asset Dev Corp · 12 yrs held
Indy East Asset Dev Corp
since 2013
4 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.4M
+172.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$3,340,000
6.5%
$3,080,000
7%
$2,860,000
Alternative Use
Use
Estimation
RESTAURANT
$3,435,000
Change: +173% · Conversion: Difficult
Blend value · Realmo final
$2.34M
Range $2.11M – $2.57M · ±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
$142 / 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
Assessed value
$1,856,400
Assessed 2023
Previous assessed
$1,856,400
+0.0% YoY
Assessed land
$41,700
Assessed improvement
$1,814,700
Land market value
$41,700
Improvement market value
$1,814,700
Total market value
$1,856,400
Applied tax rate
101.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2014
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
16,489 SF
Lot
0.74 ac (32,365 SF)
Zoning code
ZO01
APN
49-10-06-156-010.000-101
UPID
US31-0596053
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$3.4M
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
2014
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.74 ac
Current owner
From public records · entity-resolved
Indy East Asset Dev Corp
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 11465, INDIANAPOLIS, IN 46201-0465
Ownership since
2013
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
Aug 22, 2013
—
Indy East Asset Dev Corp
City Of Indianapolis
Quit Claim Deed
related
—
Jun 21, 2011
$971
Department Of Metropolitan Dev
Auditor Of Marion County
Tax Deed
related
—
Apr 25, 2006
—
Temple Of Refuge
Thorman,fred
Quit Claim Deed
related
—
—
—
Westminster Neighborhood Svcs
—
Deed Of Trust
related
$1,000,000 · Farmers Bk
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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