New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,865,000
Parking lots & garages
251 Illinois St, Indianapolis, IN 46204-1927
Entity Owned
7-yr Hold
Free & Clear
Property ID
US31-0996470
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1984
Construction
CONCRETE
Total area
232,536 SF
Zoning code
ZO01
APN
49-11-02-251-058.000-101
UPID
US31-0996470
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
-
Synthesis Incorporated Architecture Firm
-
Fifth Third Private Bank - Kevin Hipskind Financial Advisor
-
Indiana Supreme Court Disciplinary Commission State Government Office
-
Office of Admissions & Continuing Education State Government Office
-
Fifth Third Business Banking - Zach Porter Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.87M
Owner & transaction history
Capital Center Property LLC · 7 yrs held
Capital Center Property LLC
since 2018
2 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
$8 / 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
$67,989
Tax year 2023
Assessed value
$2,451,100
Assessed 2023
Previous assessed
$2,451,100
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed improvement
$2,451,100
Improvement market value
$2,451,100
Total market value
$2,451,100
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
232,536 SF
Zoning code
ZO01
APN
49-11-02-251-058.000-101
UPID
US31-0996470
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
1984
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Capital Center Property LLC
Entity
Free & Clear · 7 yrs held
Mailing address
401 N MICHIGAN AVE STE #1300, CHICAGO, IL 60611-4271
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2018
—
Capital Center Property LLC
Hertz Indianapolis Twollc
Grant Deed
related
—
Feb 11, 2013
—
Hertz Indianapolis Two LLC
Vv USA City LP
Grant Deed
$39,375,000 · Morgan Stanley Mtg Cap Holding
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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