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

    350 New York St Indianapolis, IN 46202-3240

    • Hotels
    • 74,515 SF
    • 1.83 lot acres
    OFF-MARKET
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0019408
    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

    • Residence Inn Indianapolis Downtown on the Canal / Hotel / Extended Stay Hotel
    • Citimark Management Co / Real Estate Agency / Real Estate
    • Indianapolis / Corporate Office
    • JANITORIAL & SANITATION SUPPLIES / Janitorial Equipment Supplier
    • United American Security / Security Guard Service / Security Service

    Property Details for 350 New York St

    Year built
    1998
    Construction
    WOOD
    Lot size
    1.83 lot acres
    Property size
    74,515 SF
    Zone code
    ZO01
    Property type
    Hotels
    APN
    49-11-02-124-007.000-101
    APU
    491102124007000101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $790,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $786,000
      Market price range: $787k - $3.32M

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1644
    Latitude
    39.772
    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
    $97,782
    $3,497,100
    $28,100
    $3,525,200
    -
    $3,497,100
    $28,100
    $3,525,200

    Comparable in this City

    • Value Estimation by Request
      2,160 SF

      414 Vermont St

      HOTEL/MOTEL • 2,160 SF
      414 Vermont St, Indianapolis, IN 46202-3215
      View Details
    • Value Estimation
      $740,000
      41,520 SF

      1629 Sugar Grv Ave

      HOTEL/MOTEL • 41,520 SF
      1629 Sugar Grv Ave, Indianapolis, IN 46202-2170
      View Details
    • Value Estimation by Request
      7,158 SF

      637 St

      HOTEL/MOTEL • 7,158 SF
      637 St, Indianapolis, IN 46202-3420
      View Details
    • Value Estimation
      $810,000
      74,515 SF

      357 Canal Walk

      HOTEL/MOTEL • 74,515 SF
      357 Canal Walk, Indianapolis, IN 46202
      View Details
    • Value Estimation by Request
      17,770 SF

      414 Vermont St

      HOTEL/MOTEL • 17,770 SF
      414 Vermont St, Indianapolis, IN 46202-3215
      View Details
    • Value Estimation by Request
      0.37 Acres

      1233 18th St

      HOTEL • 0.37 Acres
      1233 18th St, Indianapolis, IN 46202-2119
      View Details

    Similar Nearby for Sale

    • $6,900,000
      12,000 SF

      Meridian Street Investment Opportunity

      Prime Indy location, mixed-use potential.
      1800 Meridian St, Indianapolis, IN 46202
      View Details
    • $880,000
      1,750 SF

      Prime Indy Medical Office Building

      1,750 SF Office, $880K, C-4 Zoning
      1202 Pennsylvania St, Indianapolis, IN 46202
      View Details
    • $5,000,000

      Prime Indianapolis Storefront

      High-visibility retail space, excellent location.
      1101 16Th St, Indianapolis, IN 46202
      View Details
    • Contact for pricing
      19 SF

      Office Property Available for Sale

      Office property with 19 square feet available for sale.
      1101 E 16Th St, Indianapolis, IN 46202
      View Details
    • $250,000
      0.21 Acres

      Development Opportunity Near IU Health

      0.24-acre vacant lot ideal for multi-family development.
      2181 N Capitol Ave, Indianapolis, IN 46202
      View Details
    • $1,300,000
      0.20 Acres

      Turnkey Airbnb Portfolio Near IU

      Three short-term rental properties near IU Indianapolis and Canal.
      950-952 N California St, Indianapolis, IN 46202
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      1,536 SF

      Monon 16 Retail Redevelopment Opportunity

      Prime Monon Trail location, build-to-suit retail space.
      1132 16Th St, Indianapolis, IN 46202
      View Details
    • $25 SF/Yr
      20,650 SF

      Tinker Building: Indy Office Space

      Historic Indy Office, 6,752 SF Available
      1101 16Th St, Indianapolis, IN 46202
      View Details
    • $17 SF/Yr
      22,000 SF

      Meridian Street Creative Office Space

      Indianapolis Creative Office, 17,000 SF Available
      1712 Meridian St, Indianapolis, IN 46202
      View Details
    • $20 SF/Yr
      200,000 SF

      Indianapolis Office Space for Rent

      Office property available for lease in Indianapolis, Indiana.
      1301 E Washington St, Indianapolis, IN 46202
      View Details
    • Contact for pricing
      3,000 SF

      Downtown Indianapolis Retail/Office Space

      Retail or office space in downtown Indianapolis with apartments above.
      26 E 14Th St, Indianapolis, IN 46202
      View Details
    • $16 SF/Yr
      10,000 SF

      New Office Space Available

      10,000 sq ft of new office space for rent.
      2135 N Illinois St, Indianapolis, IN 46202
      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.
    350 New York St
    Indianapolis, IN 46202-3240
    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.