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Property profile & analytics
OFF-MARKET
Turn key restaurants
2536 Meridian St Indianapolis, IN 46225-2073
Individually Owned
9-yr Hold
Free & Clear
Property ID
US31-0062565
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1940
Construction
TYPE NOT SPECIFIED
Total area
5,842 SF
Lot
0.34 ac (14,820 SF)
APN
49-11-23-123-054.000-101
UPID
US31-0062565
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
-
Cross Ultra Lounge Bar & Pub Restaurant
-
Whiskey & Rhythm Restaurant
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
Kristina Waugh · 9 yrs held
Kristina Waugh
since 2016
3 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
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
$6,457
Tax year 2023
Assessed value
$232,800
Assessed 2023
Previous assessed
$232,800
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$32,600
Assessed improvement
$200,200
Land market value
$32,600
Improvement market value
$200,200
Total market value
$232,800
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1940
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
2
Total area
5,842 SF
Lot
0.34 ac (14,820 SF)
APN
49-11-23-123-054.000-101
UPID
US31-0062565
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
1940
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
Kristina Waugh
Individual
Free & Clear · 9 yrs held
Mailing address
5548 GREENHILL PL APT A, INDIANAPOLIS, IN 46237-7504
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2016
—
Kristina Waugh
1234 North Capitol LLC
Quit Claim Deed
related
—
Jul 8, 2004
—
1234 North Capitol LLC
Beyers,carole A
Warranty Deed
related
—
Jun 6, 2001
$33,250
Carole A Beyers
Willison,barbara A
Warranty Deed
related
$25,000 · National Cty Bk/in
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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