Add Listing
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

    3266 Butler Ave Indianapolis, IN 46218-2434

    • Commercial real estate
    • 925 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    May 03, 2024
    $95,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3459843
    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

    • Commercial real estate

    Property Details for 3266 Butler Ave

    Year built
    1959
    Construction
    WOOD FRAME
    Lot size
    0.19 lot acres
    Property size
    925 SF
    Zone code
    ZO01
    Property type
    Commercial real estate
    APN
    49-07-22-120-010.000-701
    APU
    490722120010000701

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.0804
    Latitude
    39.8163
    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
    $161
    $5,900
    $0.00
    $5,900
    -
    $5,900
    $0.00
    $5,900

    Comparable in this City

    • Value Estimation by Request
      0.05 Acres

      2237 Lasalle St

      COMMERCIAL (GENERAL) • 0.05 Acres
      2237 Lasalle St, Indianapolis, IN 46218
      View Details
    • Value Estimation by Request
      0.12 Acres

      1507 18th St

      SHOW ROOM, WAREHOUSE • 0.12 Acres
      1507 18th St, Indianapolis, IN 46218
      View Details
    • Value Estimation by Request
      5,050 SF

      3728 Schofield Ave

      COMMERCIAL (GENERAL) • 5,050 SF
      3728 Schofield Ave, Indianapolis, IN 46218
      View Details
    • Value Estimation by Request
      1,056 SF

      2325 Spencer Ave

      COMMERCIAL (GENERAL) • 1,056 SF
      2325 Spencer Ave, Indianapolis, IN 46218-3931
      View Details
    • Value Estimation by Request
      3,192 SF

      3009 Sta St

      COMMERCIAL (GENERAL) • 3,192 SF
      3009 Sta St, Indianapolis, IN 46218
      View Details
    • Value Estimation by Request
      6,200 SF

      2247 Lasalle St

      COMMERCIAL (GENERAL) • 6,200 SF
      2247 Lasalle St, Indianapolis, IN 46218
      View Details

    Similar Nearby for Sale

    • $69,000
      0.13 Acres

      Downtown Indianapolis Land Opportunity

      Land available in downtown Indianapolis with development opportunities.
      1728 Sheldon St, Indianapolis, IN 46218
      View Details
    • $950,000
      Pending

      Grocery Store and Mobile Park

      Value-add opportunity: grocery store and mobile home park.
      5209 Massachusetts Ave, Indianapolis, IN 46218
      View Details
    • $275,000
      Pending

      Indianapolis Duplex: Investment Opportunity

      Spacious duplex in Indianapolis with income potential and convenient location.
      2868 N Sherman Dr, Indianapolis, IN 46218
      View Details
    • $299,000
      3,600 SF

      Indianapolis Industrial Flex Building For Sale

      Industrial flex building with highway visibility, suitable for various businesses.
      5252 E 24Th St E, Indianapolis, IN 46218
      View Details
    • $50,000
      0.12 Acres

      Residential Lot with Garage

      Residential building lot with existing garage in Indianapolis.
      1727 N Gladstone Ave, Indianapolis, IN 46218
      View Details
    • Contact for pricing
      15,600 SF

      Industrial Property Near Eastside Location

      Industrial property with excellent transportation connectivity and redevelopment potential.
      1750 E 37Th St, Indianapolis, IN 46218
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Brightwood Plaza Endcap Sublease

      Retail/office space available for sublease in Brightwood Plaza.
      2435 N Sherman Dr, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Indianapolis Specialty Property For Rent

      Specialty property available for rent in Indianapolis, Indiana.
      1761 N Sherman Dr, Indianapolis, IN 46218
      View Details
    • $2,600 /Mo
      1,100 SF

      Prime Retail Space Available

      High-visibility retail space in a busy Indianapolis plaza.
      2077 Emerson Ave, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Indianapolis Industrial/Flex Space For Lease

      Versatile industrial/flex space with customizable layouts and secured outdoor storage.
      5640 Massachusetts Ave, Indianapolis, IN 46218
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Densely Populated Area

      Retail space for lease in an internationally diverse area.
      5320-5418 W 38Th St, Indianapolis, IN 46218
      View Details
    • Contact for pricing
      5,500 SF

      Industrial/Flex Space with Outdoor Storage

      Versatile industrial/flex space with customizable layouts and outdoor storage.
      5620-5640 Massachusetts Ave, Indianapolis, IN 46218
      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.
    3266 Butler Ave
    Indianapolis, IN 46218-2434
    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.
    Sign Up Successful!
    You now have access to more from Realmo!