Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    313 Western Blvd Greenwood, IN 46142-9210
    Back to Search
    Property profile & analytics

    313 Western Blvd, Greenwood, IN 46142-9210

    View on Map
    • Office Spaces
    • 5,104 SF
    • 0.50 lot acres
    Off-Market
    Last Sale May 6, 2024
    Property ID
    US31-0675439
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Willow Grove Wellness / Psychotherapist / Counselor
    • Jessica Jacobs / Foster Care Service / Social Service Agency
    • McDaniel Insurance Solutions - Indiana / Insurance Agency

    Property Details for 313 Western Blvd

    Year built
    2005
    Construction
    WOOD
    Lot size
    0.50 lot acres
    Zone code
    B-2
    Property type
    Office Spaces
    APN
    41-03-33-022-003.001-038
    APU
    410333022003001038

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood
    County
    Johnson
    State
    Indiana
    Longitude
    -86.2111
    Latitude
    39.6179
    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
    $7,238
    $155,600
    $233,200
    $388,800
    -
    $155,600
    $233,200
    $388,800

    Comparable in this City

    • Value Estimation by Request
      2,004 SF

      525 Madison Ave

      OFFICE (GENERAL)
      525 Madison Ave, Greenwood, IN 46142-4048
      View Details
    • Value Estimation by Request
      2,232 SF

      1039 Paz Dr

      OFFICE (GENERAL)
      1039 Paz Dr, Greenwood, IN 46142-4225
      View Details
    • Value Estimation by Request
      10,348 SF

      1672 Stonegate Dr

      Coworking space
      1672 Stonegate Dr, Greenwood, IN 46142
      View Details
    • Value Estimation by Request

      698 Oldfield Cmns Dr

      Medical Office Space
      698 Oldfield Cmns Dr, Greenwood, IN 46142
      View Details
    • Value Estimation by Request
      840 SF

      325 Wiley St

      OFFICE (GENERAL)
      325 Wiley St, Greenwood, IN 46142-3556
      View Details
    • Value Estimation by Request
      2,142 SF

      620 Treybourne Dr

      OFFICE (GENERAL)
      620 Treybourne Dr, Greenwood, IN 46142-4819
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Near High-Traffic Area

      Two-acre commercial land suitable for retail or office development.
      3124 W Smith Valley Rd, Greenwood, IN 46142
      View Details
    • $775,000
      4,400 SF

      Greenwood Retail/Office Opportunity

      4400 SF building on nearly an acre in Greenwood.
      4978 W Smith Valley Rd, Greenwood, IN 46142
      View Details
    • Contact for pricing
      54,886 SF

      Greenwood Office Building For Sale

      Office building available for purchase in Greenwood, Indiana.
      1260 Lincoln Park Blvd, Greenwood, IN 46142
      View Details
    • Contact for pricing
      4,400 SF

      Prime Commercial Opportunity in Greenwood

      4400 SF building on nearly an acre in Greenwood.
      4978 W Smith Valley Rd, Greenwood, IN 46142
      View Details
    • New
      Contact for pricing
      7,506 SF

      Downtown Greenwood Retail/Office Investment

      Prime retail/office space in downtown Greenwood with long-term leases.
      640 South Madison Ave, Greenwood, IN 46142
      View Details
    • Contact for pricing
      18,360 SF

      Restored Greenwood Office Building For Sale

      Fully restored office building with upside potential in Greenwood.
      2 N Madison Ave, Greenwood, IN 46142
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Move-in Ready Office Suite

      Plug-and-play office space in premier Greenwood location.
      373 Meridian Parke Ln, Greenwood, IN 46142
      View Details
    • $4,947 /Mo
      6,330 SF

      Move-in Ready Greenwood Office Suite

      Plug-and-play office space in premier Greenwood location.
      373 Meridian Parke Ln, Greenwood, IN 46142
      View Details
    • Contact for pricing

      Move-in-Ready Office Suite

      End-cap office suite in Greenwood, ready for immediate occupancy.
      373 Meridian Parke Ln, Greenwood, IN 46142
      View Details
    • Contact for pricing
      2,033 SF

      Greenwood Office Space Available

      Office space for rent in Greenwood, Indiana.
      1411 W County Line Rd, Greenwood, IN 46142
      View Details
    • Contact for pricing

      Medical Office Space Available

      Medical office space featuring exam rooms, offices, and storage.
      373 Meridian Parke Ln, Greenwood, IN 46142
      View Details
    • $2,500 /Mo
      1,472 SF

      Greenwood Office Space For Lease

      Private office space in Greenwood with high visibility and signage.
      1185 W County Line Rd, Greenwood, IN 46142
      View Details

    Property Visit Statistics

    • Visits by month
      1.6k
    • Visitors by month
      1.3k
    • Avg Time on site
      16 min
    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.
    313 Western Blvd
    Greenwood, IN 46142-9210
    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
    313 Western Blvd, Greenwood, IN, 46142
    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!