Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3020 Nowland Ave Indianapolis, IN 46201-1422
    Property profile & analytics

    3020 Nowland Ave, Indianapolis, IN 46201-1422

    View on Map
    • Office Spaces
    • 50,763 SF
    • 8.89 lot acres
    Off-Market
    Property ID
    US31-0226141
    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.
    Value Estimations
    $7,205,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Paramount Brookside / High School
    • Brookside Lodge F & AM / Volunteer Organization / Community Center

    Property Details for 3020 Nowland Ave

    Year built
    1957
    Construction
    WOOD
    Lot size
    8.89 lot acres
    Zone code
    ZO01
    Property type
    Office Spaces
    APN
    49-07-32-193-182.000-101
    APU
    490732193182000101

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 25, 2021 — Paramount School Of Excellence INC — Deed · related $11.5M · Umb Bank NA
    Jun 27, 2013 $5,427,498 Paramount Sch Of Excellence INC Csdc Paramount LLC Warranty Deed · related $4.5M · National Bk/indianapolis
    Aug 6, 2010 — Csdc Paramount LLC Charter Schools Dev Corp Warranty Deed $3.8M · National Bank Indianapolis
    Oct 16, 2009 $300,000 Charter Schools Dev Corp Masonic Ldg No 720 F Brookside Warranty Deed —
    — — Paramount Sch Of Excellence INC — Deed Of Trust · related $5.2M · National Bk/indianapolis
    — — Paramount Sch Of Excellence INC — Deed Of Trust · related $1.5M · Iff

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,280,000
      6.5%
      $9,490,000
      7%
      $8,810,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,007,000
      Market price range: $1.31M - $7.01M
      AI Estimate
      $5,123,000
      Market price range: $1.33M - $5.12M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $10,580,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1125
    Latitude
    39.7873
    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
    $0.00
    $700,900
    $6,377,200
    $7,078,100
    -
    $700,900
    $6,377,200
    $7,078,100

    Comparable in this City

    • Value Estimation by Request

      3415 English Ave

      Medical Office Space
      3415 English Ave, Indianapolis, IN 46201
      View Details
    • Value Estimation
      $1,385,000
      9,750 SF

      4107 Washington St

      OFFICE (GENERAL)
      4107 Washington St, Indianapolis, IN 46201-4538
      View Details
    • Value Estimation
      $2,340,000
      16,489 SF

      2315 New York St

      OFFICE (GENERAL)
      2315 New York St, Indianapolis, IN 46201
      View Details
    • Value Estimation
      $5,290,000
      61,144 SF

      3092 Brookside Pkwy S Dr

      OFFICE (GENERAL)
      3092 Brookside Pkwy S Dr, Indianapolis, IN 46201
      View Details
    • Value Estimation
      $5,560,000
      55,409 SF

      1401 Bosart Ave

      OFFICE (GENERAL)
      1401 Bosart Ave, Indianapolis, IN 46201-1715
      View Details
    • Value Estimation by Request
      3,000 SF

      3540 English Ave

      OFFICE (GENERAL)
      3540 English Ave, Indianapolis, IN 46201-4434
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,000 SF

      Versatile Office Building For Sale

      Office building featuring classrooms, gated parking, and freight elevator.
      3535 E Michigan St, Indianapolis, IN 46201
      View Details
    • $150,000
      1,550 SF

      Indianapolis Retail Building for Sale

      Commercial building with redevelopment potential near downtown Indianapolis.
      200 S State Ave, Indianapolis, IN 46201
      View Details
    • New
      $899,900
      9,720 SF

      Two-Building Investment Opportunity

      Two income-producing buildings on one parcel in high-traffic area.
      1915 Southeastern Ave, Indianapolis, IN 46201
      View Details
    • $95,000
      0.20 Acres

      East Washington Street Development Opportunity

      0.2-acre lot ideal for mixed-use development in Indianapolis.
      2002 E Washington St, Indianapolis, IN 46201
      View Details
    • $55,000
      0.11 Acres

      Residential Lots in Indianapolis, IN

      Residential lots for sale in Indianapolis, Indiana.
      53 N Beville Ave, Indianapolis, IN 46201
      View Details
    • $60,000
      0.10 Acres

      Residential Lot in Indianapolis

      Residential lot ready for development in Indianapolis, Indiana.
      431 N Tacoma Ave, Indianapolis, IN 46201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,313 SF

      Creative Office Space Available

      Redeveloped creative office space with unique amenities in Indianapolis.
      1411 Roosevelt Ave, Indianapolis, IN 46201
      View Details
    • Contact for pricing
      18,249 SF

      Office Space with Skyline Views

      Office space with Indianapolis skyline views and free parking.
      1351 Roosevelt Ave, Indianapolis, IN 46201
      View Details
    • New
      $3,500 /Mo
      7,220 SF

      Versatile Indianapolis Commercial Space Available

      Multiple spaces available for lease, suitable for office, retail, and more.
      1915 Southeastern Ave, Indianapolis, IN 46201
      View Details
    • $8 SF/Yr

      Industrial Building Near Mass Ave

      Industrial space for lease with convenient highway access and parking.
      1417 Commerce Ave, Indianapolis, IN 46201
      View Details
    • Contact for pricing
      67,200 SF

      Indianapolis Warehouse Space Available

      67,200 SF warehouse space for lease in Indianapolis.
      1255 Roosevelt Ave, Indianapolis, IN 46201
      View Details
    • Contact for pricing

      Indianapolis Retail Space For Lease

      Retail spaces available in Kroger-anchored Indianapolis shopping center.
      4401 Linwood Ct, Indianapolis, IN 46201
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3020 Nowland Ave
    Indianapolis, IN 46201-1422
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3020 Nowland Ave, Indianapolis, IN, 46201
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!