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
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3355 16th St Indianapolis, IN 46222-2661

    • Grocery and convenience stores
    • 4,180 SF
    • 1.44 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1010285
    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

    • bp / Convenience Store / Gas Station
    • GetGo Café + Market / Convenience Store / Gas Station

    Property Details for 3355 16th St

    Year built
    2001
    Construction
    WOOD
    Lot size
    1.44 lot acres
    Property size
    4,180 SF
    Property type
    Grocery and convenience stores
    APN
    49-06-33-104-005.000-901
    APU
    490633104005000901

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $220,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $301,000
      Market price range: $256k - $438k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $310,000
      RETAIL STORES
      $285,000
      COMMERCIAL (GENERAL)
      $220,000
      OFFICE BUILDING
      $205,000
      MEDICAL BUILDING
      $165,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.2152
    Latitude
    39.7874
    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
    $13,680
    $197,200
    $299,400
    $496,600
    -
    $197,200
    $299,400
    $496,600

    Comparable in this City

    • Value Estimation
      $165,000
      2,340 SF

      2508 Washington St

      CONVENIENCE STORE • 2,340 SF
      2508 Washington St, Indianapolis, IN 46222
      View Details
    • Value Estimation
      $230,000
      1,728 SF

      3060 16th St

      CONVENIENCE STORE • 1,728 SF
      3060 16th St, Indianapolis, IN 46222-2724
      View Details
    • Value Estimation
      $210,000
      1,260 SF

      3540 30th St

      CONVENIENCE STORE • 1,260 SF
      3540 30th St, Indianapolis, IN 46222-2106
      View Details
    • Value Estimation
      $225,000
      4,212 SF

      2802 Washington St

      CONVENIENCE STORE • 4,212 SF
      2802 Washington St, Indianapolis, IN 46222-5350
      View Details
    • Value Estimation
      $325,000
      2,400 SF

      3127 Washington St

      CONVENIENCE STORE • 2,400 SF
      3127 Washington St, Indianapolis, IN 46222-4056
      View Details
    • Value Estimation
      $255,000
      2,553 SF

      2401 Lafayette Rd

      CONVENIENCE STORE • 2,553 SF
      2401 Lafayette Rd, Indianapolis, IN 46222-2101
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,200 SF

      Retail Space Near Speedway

      Retail space with high visibility near Indianapolis Motor Speedway.
      3323 W 16Th St, Indianapolis, IN 46222
      View Details
    • Contact for pricing
      0.10 Acres

      Residential Lot Ready For Development

      Land available for residential construction in Indianapolis.
      1044 N Elder Ave, Indianapolis, IN 46222
      View Details
    • $30,000
      0.07 Acres

      Indianapolis Residential Lots For Sale

      City lot presenting a new build opportunity in Indianapolis.
      1921 W New York St, Indianapolis, IN 46222
      View Details
    • $1,200,000
      11,362 SF

      Indianapolis Industrial Flex Space

      11,362 SF Flex Space, 3 Buildings
      722 Ketcham St, Indianapolis, IN 46222
      View Details
    • $350,000
      5,737 SF

      Freestanding Industrial Building For Sale

      5,700 SF industrial building with multi-tenant potential.
      444 N Holmes Ave, Indianapolis, IN 46222
      View Details
    • Contact for pricing

      Land on 16th Street

      Land with high visibility, near downtown Indianapolis and I-465.
      2628 W 16Th St, Indianapolis, IN 46222
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,450 SF

      Unique Identity Building Opportunity

      Penthouse offers unique identity with restored features and modern offices.
      1234 E Washington St, Indianapolis, IN 46222
      View Details
    • Contact for pricing
      14,167 SF

      Retail Space on 38th Street

      Retail space with high visibility and access on 38th.
      3790 Lafayette Rd, Indianapolis, IN 46222
      View Details
    • Contact for pricing
      14,167 SF

      Prime Lafayette Rd Retail Space

      14,167 SF Freestanding Retail Building
      3790 Lafayette Rd, Indianapolis, IN 46222
      View Details
    • Contact for pricing
      2,901 SF

      Turn-Key Office Space Available

      Office space with kitchen, roof deck, and flexible terms.
      930-934 E Washington St, Indianapolis, IN 46222
      View Details
    • $7 SF/Yr
      7,346 SF

      Indianapolis Flex / Industrial Space

      Flex / Industrial space available for lease in Indianapolis.
      57 Gasoline Aly, Indianapolis, IN 46222
      View Details
    • $2 SF/Yr
      64,945 SF

      Indianapolis Warehouse - 65,000 SF

      Large industrial warehouse, immediate occupancy.
      217 Belmont Ave, Indianapolis, IN 46222
      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.
    3355 16th St
    Indianapolis, IN 46222-2661
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.