Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    303 161st St Westfield, IN 46074-7608

    • Commercial real estate
    • 4,160 SF
    • 5.00 lot acres
    OFF-MARKET
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    3.7%
    Commercial real estate
    Location Intelligence
    Property ID
    US31-0213139
    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

    • Urban Vines Winery & Brewery / Brewery & Distillery / Specialty Food Shop

    Property Details for 303 161st St

    Year built
    2016
    Construction
    WOOD
    Lot size
    5.00 lot acres
    Property size
    4,160 SF
    Property type
    Commercial real estate
    APN
    29-09-11-000-013.103-015
    APU
    290911000013103015

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $683,000
      Market price range: $238k - $1.20M

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

    Location Insight

    • Map
    • Local Demand
    City
    Westfield
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1535
    Latitude
    40.0201
    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
    $9,958
    $120,200
    $300,100
    $420,300
    -
    $120,200
    $300,100
    $420,300

    Comparable in this City

    • Value Estimation by Request
      4.32 Acres

      17300 Westfield Blvd

      Land • 62,000 SF
      17300 Westfield Blvd, Westfield, IN 46074
      View Details
    • Value Estimation by Request
      0.35 Acres

      411 Main St

      COMMERCIAL (GENERAL) • 0.35 Acres
      411 Main St, Westfield, IN 46074-9428
      View Details
    • Value Estimation by Request
      220 SF

      2550 171st St

      COMMERCIAL (GENERAL) • 220 SF
      2550 171st St, Westfield, IN 46074
      View Details
    • Value Estimation by Request
      1,600 SF

      1111 181st St

      COMMERCIAL (GENERAL) • 1,600 SF
      1111 181st St, Westfield, IN 46074-8926
      View Details
    • Value Estimation by Request
      1,476 SF

      1125 181st St

      COMMERCIAL (GENERAL) • 1,476 SF
      1125 181st St, Westfield, IN 46074
      View Details
    • Value Estimation by Request
      1,140 SF

      13540 Shelborne Rd

      COMMERCIAL (GENERAL) • 1,140 SF
      13540 Shelborne Rd, Westfield, IN 46074
      View Details

    Similar Nearby for Sale

    • $3,471,000

      Westfield Commercial Land - $3.47M

      23 Acres, High-Traffic Location, Development Ready
      0 David Brown Dr, Westfield, IN 46074
      View Details
    • $995,000
      4,877 SF

      Westfield Commercial Property - Huge Potential

      Prime Westfield location, 4877 sq ft, high traffic area.
      19499 Chad Hittle Dr, Westfield, IN 46074
      View Details
    • Contact for pricing
      54.30 Acres

      Westfield Commercial Land Development

      54.3 Acres, Prime Hamilton County Location
      0 161St St, Westfield, IN 46074
      View Details
    • $625,000

      Westfield Commercial Land - $625K

      Prime 2.18-Acre Mixed-Use Development Site
      17305 Spring Mill Rd, Westfield, IN 46074
      View Details
    • $5,175,000
      30.00 Acres

      Westfield Commercial Land - 45 Acres

      Prime Commercial Land, Westfield, IN
      0 State Road 38, Westfield, IN 46074
      View Details
    • $4,271,400

      Development Land on US 31

      Development land with frontage on US 31 in Westfield.
      East 196Th St, Westfield, IN 46074
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      106,267 SF

      Prime Hamilton County Manufacturing Space

      106,267 SF Multi-Tenant Industrial Building
      2000 196Th St, Westfield, IN 46074
      View Details
    • $495 /Mo
      4,500 SF

      Retail Space in Westfield, IN

      Retail property available for lease in Westfield, Indiana.
      770 Pawtucket Dr, Westfield, IN 46074
      View Details
    • Contact for pricing

      Retail Development Opportunity in Westfield

      Retail development opportunity in a rapidly growing Westfield community.
      2135 W 146Th St, Westfield, IN 46074
      View Details
    • Contact for pricing
      1,945 SF

      Retail Space Near Grand Park

      Retail property near Grand Park in Westfield, Indiana.
      46074 Usa, Westfield, IN 46074
      View Details
    • Contact for pricing
      1,560 SF

      Retail Space Near Monon Trail

      1,560 SF retail space with multiple access points.
      829 E State Road 32, Westfield, IN 46074
      View Details
    • Contact for pricing
      56,628 SF

      Legends Crossing: Westfield Retail Opportunity

      Prime Westfield retail, near Grand Park.
      300 East St, Westfield, IN 46074
      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.
    303 161st St
    Westfield, IN 46074-7608
    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

    Google sign-in failed. Please try again or use another login method.