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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Office buildings
2920 Arlington Ave Indianapolis, IN 46218-3361
Trust Owned
13-yr Hold
~
Est. High Equity
Property ID
US31-1213635
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Construction
METAL FRAME
Total area
19,236 SF
Lot
1.47 ac (63,956 SF)
Zoning code
ZO01
APN
49-07-27-110-015.000-701
UPID
US31-1213635
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
-
Drywall Contractors, Inc. Hardware & Home Improvement Interior Design
-
Eastside Medical Center Physician
-
Abby Brack Physician
-
Mary P. Blanchet, NP Physician
-
Associated Drywall Partners 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
$830k
Owner & transaction history
Carnevale Family Trust · 13 yrs held
Carnevale Family Trust
since 2013
7 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+41.5%
Commercial (general)
$1.1M
+13.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$950,000
Current use
RESTAURANT
$1,345,000
Change: +42% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,075,000
Change: +13% · Conversion: Easy
MEDICAL BUILDING
$765,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$830k
Range $747k – $913k · ±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
$43 / 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
$17,938
Tax year 2023
Assessed value
$656,000
Assessed 2023
Previous assessed
$656,000
+0.0% YoY
Effective rate
2.73%
On assessed value
Assessed land
$196,700
Assessed improvement
$459,300
Land market value
$196,700
Improvement market value
$459,300
Total market value
$656,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2002
Construction
METAL FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
19,236 SF
Lot
1.47 ac (63,956 SF)
Zoning code
ZO01
APN
49-07-27-110-015.000-701
UPID
US31-1213635
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
OFFICE BUILDING Current
Est. value
$950,000
RESTAURANT
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$765,000
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
2002
Construction
METAL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.47 ac
Current owner
From public records · entity-resolved
Carnevale Family Trust
Trust
Mailing address
2920 N ARLINGTON AVE STE A, INDIANAPOLIS, IN 46218-3362
Mailing matches property
Yes
Owner-occupied
Yes
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 8, 2019
—
Carnevale Family Trust
—
Deed
related
$1,000,000 · Stockyard Bk&tr
Feb 13, 2018
—
Drywall Contractors INC
—
Grant Deed
related
$2,500,000 · Stockyard Bk&tr
Oct 5, 2017
—
Carnevale Family Trust
—
Grant Deed
related
$1,500,000 · Stockyard Bk&tr
Mar 29, 2017
—
Drywall Contractors INC
—
Deed
related
$948,176 · Stockyard Bk&tr
Jun 14, 2013
—
Carnevale Family Trust
Carnevale,joseph P & Stephani D
Quit Claim Deed
related
$280,000 · Stock Yards Bank
Oct 29, 2008
—
Carnevale Family Trust
Carnevale,joseph P & Stephani D
Quit Claim Deed
—
—
—
Joseph P Carnevale
—
Loan Modification
related
—
—
—
Carnevale Family Trust
—
Deed Of Trust
related
$1,000,000 · Stockyard Bk&tr
—
—
Carnevale Family Trust
—
Deed Of Trust
related
$350,000 · Stock Yards Bank
—
—
Joseph P Carnevale
—
Deed Of Trust
related
$926,000 · Fifth Third Bank
—
—
Carnevale Family Trust
—
Deed Of Trust
related
$1,250,000 · Stock Yards Bank
—
—
Drywall Contractors INC
—
Deed Of Trust
related
$948,176 · Stockyard Bk&tr
—
—
Carnevale Family Trust
—
Deed Of Trust
related
$948,176 · Stockyard Bk&tr
—
—
Carnevale Family Trust
—
Deed Of Trust
related
$2,500,000 · Stockyard Bk&tr
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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