Entity Owned 
For Lease
1 / 2
$5,640/Mo
3115 Meridian Parke Dr, Greenwood, IN 46142
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Property summary
AI-generated overview
Meridian Parke Plaza is a neighborhood shopping center comprising approximately 31,673± square feet of retail space. The center is located along Greenwood’s primary State Road 135 retail corridor and is positioned in proximity to major grocery-anchored retailers, with Meijer and Kroger serving as anchor tenants. The property includes a mix of service and specialty retail and is configured to accommodate multiple tenant suites, with available spaces sized around 1,800 to 1,850 square feet. The center is suited for retail, service, or medical use based on suite configuration and tenant space layout.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
TYPE NOT SPECIFIED
Total area
31,496 SF
Lot
4.57 ac (198,895 SF)
APN
41-03-35-011-003.000-041
UPID
US31-1185260
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gym & Fitness Center
-
Nail Salon
-
Hair Salon Nail Salon
-
Bank Credit Union
-
Hair Salon
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$620k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$996k
Blend (final)
Blend
$810k
Owner & transaction history
since 2026
6 recorded transactions
Zoning & alternative use
Top alternative use upside
Warehouse, storage
$1.1M
+23.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$810k
Value range
$729k – $891k
±10% around blend
Estimated value / SF
$26 / SF
Confidence
Property data
88
Comparable evidence
60
$729k
blend $810k
$891k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
31,496 SF
Lot area
4.57 ac
Year built
1989
Stories
1
APN
41-03-35-011-003.000-041
Assessed value
$3,008,300
Annual tax
$71,652
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$996k
Range $598k – $1.29M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$810k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Warehouse, Storage
Gross theoretical uplift
+23%
vs current-use indication
Neighborhood: Shopping Center · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.01M
Move the market yield to see immediate price impact.
Value / SF
$96
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$190k
$3.79M
$2.71M
$2.11M
$211k
$4.21M
$3.01M
$2.34M
$232k
$4.63M
$3.31M
$2.57M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$71,652
Tax year 2023
Assessed value
$3,008,300
Assessed 2023
Previous assessed
$3,008,300
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$1,362,100
Assessed improvement
$1,646,200
Land market value
$1,362,100
Improvement market value
$1,646,200
Total market value
$3,008,300
Applied tax rate
41.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
17
Total area
31,496 SF
Lot
4.57 ac (198,895 SF)
APN
41-03-35-011-003.000-041
UPID
US31-1185260
Jurisdiction
JOHNSON
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
17
Lot
4.57 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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