Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3530 Shelby St Indianapolis, IN 46227-3226
    Property profile & analytics

    3530 Shelby St, Indianapolis, IN 46227-3226

    View on Map
    • Assisted living facilities
    • 27,933 SF
    • 0.90 lot acres
    Off-Market
    Property ID
    US31-0485195
    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

    • Bethany Village Assisted Living / Nursing Home / Retirement Community

    Property Details for 3530 Shelby St

    Year built
    1988
    Construction
    WOOD
    Lot size
    0.90 lot acres
    Zone code
    ZO01
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    49-11-25-103-003.000-500
    APU
    491125103003000500

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 21, 2010 — 1085 Investments LLC Greenleaf Ltd Trustees Deed $1.6M · First Federal Savings Bank
    — — 1085 Investments LLC — Deed Of Trust · related $5.4M · Centier Bk
    — — 1085 Investments LLC — Deed Of Trust · related $5.4M · Centier Bk
    — — 1085 Investments LLC — Deed Of Trust · related $1.8M · Tower Bank & Trust Co

    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
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1409
    Latitude
    39.7141
    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
    $41,566
    $89,800
    $1,544,900
    $1,634,700
    -
    $89,800
    $1,544,900
    $1,634,700

    Comparable in this City

    • Value Estimation by Request
      1,448 SF

      8601 Shelby St

      HOMES (RETIRED, NURSING)
      8601 Shelby St, Indianapolis, IN 46227-6596
      View Details
    • Value Estimation by Request
      25,469 SF

      3895 Keystone Ave

      HOMES (RETIRED, NURSING)
      3895 Keystone Ave, Indianapolis, IN 46227-3540
      View Details
    • Value Estimation
      $690,000
      42,407 SF

      7212 Us 31

      HOMES (RETIRED, NURSING)
      7212 Us 31, Indianapolis, IN 46227-8549
      View Details
    • Value Estimation
      $525,000
      32,698 SF

      3518 Shelby St

      HOMES (RETIRED, NURSING)
      3518 Shelby St, Indianapolis, IN 46227-3226
      View Details
    • Value Estimation
      $735,000
      48,070 SF

      7465 Madison Ave

      HOMES (RETIRED, NURSING)
      7465 Madison Ave, Indianapolis, IN 46227-6564
      View Details
    • Value Estimation by Request
      10,447 SF

      8549 Madison Ave

      HOMES (RETIRED, NURSING)
      8549 Madison Ave, Indianapolis, IN 46227-6153
      View Details

    Similar Nearby for Sale

    • $805,700

      Indianapolis Office Building Investment Opportunity

      5,673 SF office building for sale in Indianapolis.
      5218 S East St, Indianapolis, IN 46227
      View Details
    • Contact for pricing

      High-Visibility Frontage on US 31

      Land with frontage on US 31 near retail amenities.
      7510 Us-31, Indianapolis, IN 46227
      View Details
    • Contact for pricing
      10,344 SF

      Freestanding Building Near University

      Theater and academy building near the University of Indianapolis.
      3808 Shelby St, Indianapolis, IN 46227
      View Details
    • Contact for pricing

      High-Visibility Frontage on US 31

      Land with frontage and easy access to retail amenities.
      7520 Us-31, Indianapolis, IN 46227
      View Details
    • $1,000,000

      Versatile Warehouse Property For Sale

      10,000 SF warehouse with climate control and flexible zoning.
      3291 Madison Ave, Indianapolis, IN 46227
      View Details
    • $795,000
      Pending

      Indianapolis Industrial Building For Sale

      10,152 SF industrial building on 0.62 acres in Indianapolis.
      1105 Martin St, Indianapolis, IN 46227
      View Details

    Similar Nearby for Lease

    • $880 /Mo
      57,964 SF

      Indianapolis Office Space For Rent

      Office space available for lease in Indianapolis, Indiana.
      5401 S East St, Indianapolis, IN 46227
      View Details
    • $1,400 /Mo
      57,964 SF

      Indianapolis Office Space For Lease

      Office building with 57,964 square feet available for lease.
      5401 S East St, Indianapolis, IN 46227
      View Details
    • $2,500 /Mo
      10,924 SF

      Retail Space in High Visibility Center

      Retail space available in a high-visibility Indianapolis shopping center.
      5002 Madison Ave, Indianapolis, IN 46227
      View Details
    • Contact for pricing

      Former Restaurant Space Available

      4,916 SF restaurant space on 1.40 acres for lease.
      7940 Us 31 S, Indianapolis, IN 46227
      View Details
    • Contact for pricing

      Retail Strip Center Space Available

      Retail space in high-visibility strip center at Madison and Thompson.
      5002 Madison Ave, Indianapolis, IN 46227
      View Details
    • $1,170 /Mo
      57,964 SF

      Indianapolis Office Space For Rent

      Office space available for lease in Indianapolis, Indiana.
      5251 S East St, Indianapolis, IN 46227
      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.
    3530 Shelby St
    Indianapolis, IN 46227-3226
    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
    3530 Shelby St, Indianapolis, IN, 46227
    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!