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    Property profile & analytics

    2420 146th St Carmel, IN 46033-7712

    • Drive through restaurants
    • 2,299 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimation
    $1,710,000
    Last Sale
    Dec 24, 2024
    $1,721,900
    Location Intelligence
    Property ID
    US31-3363153
    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

    • Chipotle Mexican Grill / Mexican Restaurant / Caterer

    Property Details for 2420 146th St

    Year built
    2005
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.16 lot acres
    Property size
    2,299 SF
    Property type
    Drive through restaurants
    APN
    29-10-18-000-014.207-015
    APU
    291018000014207015

    Description

    This exceptional investment opportunity presents a 2,470 square foot, single-tenant, absolute NNN leased Chipotle restaurant located at 2420 E 146th St, Carmel, IN 46033. The property sits on a 0.164-acre lot within the premier Cool Creek Commons shopping center, boasting strong retail synergy with brands like The Fresh Market, Orange Theory Fitness, and Crumbl Cookies. Built in 2005, this one-story building offers a 100% occupancy rate with a corporate guaranteed lease from Chipotle Mexican Grill, Inc. The current lease features a 4-year remaining term with five, 5-year renewal options, each including a 7% rent increase. The asking price is $1,721,952, representing a 5.50% cap rate. This is an ideal passive investment opportunity due to the absolute NNN lease structure, eliminating landlord responsibilities. The property benefits from its location in Carmel, Indiana, a highly affluent area with an average household income exceeding $157,000 within a one-mile radius. Chipotle's strong brand and demonstrated commitment to the location, evidenced by a lease renewal in 2018, further enhance this investment's appeal. The Hamilton County location is further identified by APN 29-10-18-000-014.207-015.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,720,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,805,000
      6.5%
      $1,770,000
      7%
      $1,770,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,635,000
      Geo Method
      $1,585,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,725,000
      Retail
      $1,700,000
      Mixed-Use
      $1,935,000
      Hospitality
      $1,590,000
      Educational
      $1,520,000
      Residential Income
      $1,645,000
      Energy
      $1,605,000
      Income-Based Land
      $1,840,000
      Food Service
      $1,840,000

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.119
    Latitude
    40.0008
    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
    $25,930
    $750,500
    $363,100
    $1,113,600
    -
    $750,500
    $363,100
    $1,113,600

    Comparable in this City

    • Value Estimation
      $720,000
      4,869 SF

      2740 146th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,869 SF
      2740 146th St, Carmel, IN 46033-7718
      View Details
    • Value Estimation by Request
      5,609 SF

      146th St

      RESTAURANT • 5,609 SF
      146th St, Carmel, IN 46033
      View Details
    • Value Estimation by Request
      8,333 SF

      14480 Lowes Way

      RESTAURANT • 8,333 SF
      14480 Lowes Way, Carmel, IN 46033-7806
      View Details
    • Value Estimation
      $580,000
      13,476 SF

      5801 116th St

      RESTAURANT • 13,476 SF
      5801 116th St, Carmel, IN 46033-9307
      View Details
    • Value Estimation by Request
      3,350 SF

      Pebblepointe Pass

      RESTAURANT • 3,350 SF
      Pebblepointe Pass, Carmel, IN 46033
      View Details
    • Value Estimation
      $565,000
      3,910 SF

      2560 146th St

      RETAIL STORES (PERSONAL SERVICES) • 3,910 SF
      2560 146th St, Carmel, IN 46033-7714
      View Details

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    Carmel, IN 46033-7712
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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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