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    Property profile & analytics

    3308 Emerson Ave Beech Grove, IN 46107-3355

    • Commercial real estate
    • 8,000 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0594396
    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

    • Trans Gear Performance Inc / Transmission Shop

    Property Details for 3308 Emerson Ave

    Year built
    1967
    Construction
    WOOD
    Lot size
    0.24 lot acres
    Property size
    8,000 SF
    Zone code
    ZO01
    Property type
    Commercial real estate
    APN
    49-10-28-113-074.000-502
    APU
    491028113074000502

    Description

    This 8,000 square foot warehouse is ideally situated on a major highway, benefiting from high traffic volume. The property is zoned for industrial use and features a single tenancy setup, making it perfect for a variety of businesses. The building's classification is industrial, specifically a warehouse, offering ample space for storage and operations. Its single-tenant occupancy ensures exclusive use and control of the entire facility. The strategic highway location provides excellent accessibility and visibility, crucial for attracting customers and streamlining logistics. This presents a significant advantage for businesses requiring easy access to transportation networks. The property's zoning designation as "Industrial" confirms its suitability for various industrial activities, including warehousing, manufacturing, or distribution. The substantial square footage provides ample room for inventory, equipment, and operations. This warehouse offers a compelling opportunity for businesses seeking a well-located, functional space to support their growth and operational needs. The high traffic count on the adjacent highway translates to increased brand visibility and potential customer reach. The single-tenant structure simplifies management and eliminates the complexities associated with multi-tenant properties. This property is an excellent choice for businesses seeking a strategic location and ample space for their operations. The combination of size, location, and zoning makes this an attractive investment opportunity in a thriving industrial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $236,000
      Market price range: $236k - $847k
      AI Estimate
      $259,000
      Market price range: $259k - $581k

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

    Location Insight

    • Map
    • Local Demand
    City
    Beech Grove
    County
    Marion
    State
    Indiana
    Longitude
    -86.083
    Latitude
    39.7187
    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
    $4,213
    $46,800
    $64,400
    $111,200
    -
    $46,800
    $64,400
    $111,200

    Comparable in this City

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      $235,000
      0.14 Acres

      7 18th Ave

      COMMERCIAL (GENERAL) • 0.14 Acres
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    • Value Estimation
      $240,000
      7,700 SF

      128 Main St

      COMMERCIAL (GENERAL) • 7,700 SF
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    • Value Estimation
      $245,000
      3,200 SF

      325 Bethel Ave

      COMMERCIAL (GENERAL) • 3,200 SF
      325 Bethel Ave, Beech Grove, IN 46107-1323
      View Details
    • Value Estimation
      $275,000
      11,754 SF

      100 Bethel Ave

      COMMERCIAL (GENERAL) • 11,754 SF
      100 Bethel Ave, Beech Grove, IN 46107-1351
      View Details
    • Value Estimation
      $260,000
      4,520 SF

      3116 Emerson Ave

      COMMERCIAL (GENERAL) • 4,520 SF
      3116 Emerson Ave, Beech Grove, IN 46107-3337
      View Details
    • Value Estimation
      $230,000
      2,591 SF

      518 Main St

      COMMERCIAL (GENERAL) • 2,591 SF
      518 Main St, Beech Grove, IN 46107-1840
      View Details

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    3308 Emerson Ave
    Beech Grove, IN 46107-3355
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    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
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