Back to Search
Property profile & analytics
OFF-MARKET
Industrial properties
2315 Spencer Ave Indianapolis, IN 46218-3931
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0133944
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1973
Construction
METAL FRAME
Total area
1,728 SF
Lot
0.56 ac (24,247 SF)
Zoning code
ZO01
APN
49-07-27-109-120.000-701
UPID
US31-0133944
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
-
Benchmark Window Inc Hardware & Home Improvement Interior Design
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Jones Brothers Electric Properties · 3 yrs held
Jones Brothers Electric Properties
since 2023
Last sale
$675,000
5 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,440
Tax year 2023
Assessed value
$125,800
Assessed 2023
Previous assessed
$125,800
+0.0% YoY
Effective rate
2.73%
On assessed value
Assessed land
$27,800
Assessed improvement
$98,000
Land market value
$27,800
Improvement market value
$98,000
Total market value
$125,800
Applied tax rate
701.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1973
Construction
METAL FRAME
Heating
NONE
Buildings
2
Stories
1
Total area
1,728 SF
Lot
0.56 ac (24,247 SF)
Zoning code
ZO01
APN
49-07-27-109-120.000-701
UPID
US31-0133944
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.
Building & site characteristics
From public records
Year built
1973
Construction
METAL FRAME
Heating
NONE
Stories
1
Buildings
2
Lot
0.56 ac
Current owner
From public records · entity-resolved
Jones Brothers Electric Properties
Entity
Free & Clear · 3 yrs held
Mailing address
16654 N GRAY RD, WESTFIELD, IN 46062-9251
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2023
$675,000
Jones Brothers Electric Properties
Jaspal S Athwal
Warranty Deed
—
Jan 4, 2022
—
Jaspal S Athwal
Liberty Window INC
Special Warranty Deed
—
Jun 30, 2020
—
Liberty Window INC
—
Deed
related
$92,000 · Wesbanco Bank
May 18, 2020
$115,000
Liberty Window INC
Study Chapel Bible
Warranty Deed
—
Sep 15, 2010
$35,000
Bible Study Chapel
Indiana Vacuum Tank Trucks INC
Warranty Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2315 Spencer Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
