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

    3575 79th St Indianapolis, IN 46240-3404

    • Theaters & concert halls
    • 63,490 SF
    • 29.07 lot acres
    OFF-MARKET
    Value Estimations
    $2,375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1001444
    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

    • Clearwater Elementary School / High School
    • Allisonville Youth Baseball and Softball / Charitable Organization / Social Service Agency

    Property Details for 3575 79th St

    Year built
    2019
    Construction
    STEEL FRAME
    Lot size
    29.07 lot acres
    Property size
    63,490 SF
    Zone code
    ZO01
    Property type
    Theaters & concert halls
    APN
    49-02-29-131-006.000-800
    APU
    490229131006000800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,377,000
      Market price range: $1.25M - $3.47M

    • Alternative Use

      Use
      Estimation
      THEATER (MOVIE)
      $2,375,000
      Current use
      OFFICE BUILDING
      $3,140,000
      Change: +32% Conversion: Difficult
      RETAIL STORES
      $2,740,000
      Change: +15% Conversion: Difficult
      RESTAURANT
      $2,595,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $2,520,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.105
    Latitude
    39.8957
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,640,000
      49,630 SF

      702 91st St

      THEATER (MOVIE) • 49,630 SF
      702 91st St, Indianapolis, IN 46240
      View Details
    • Value Estimation
      $1,575,000
      46,450 SF

      8400 Westfield Blvd

      THEATER (MOVIE) • 46,450 SF
      8400 Westfield Blvd, Indianapolis, IN 46240-2368
      View Details
    • Value Estimation by Request
      1,800 SF

      1607 Haynes Ave

      THEATER (MOVIE) • 1,800 SF
      1607 Haynes Ave, Indianapolis, IN 46240
      View Details
    • Value Estimation by Request
      4,012 SF

      1788 Haynes Ave

      THEATER (MOVIE) • 4,012 SF
      1788 Haynes Ave, Indianapolis, IN 46240-3235
      View Details
    • Value Estimation
      $1,720,000
      74,530 SF

      3477 96th St

      BOWLING ALLEY • 74,530 SF
      3477 96th St, Indianapolis, IN 46240
      View Details
    • Value Estimation by Request
      335,179 SF

      8888 Keystone Xing

      Office Properties & Spaces • 335,179 SF
      8888 Keystone Xing, Indianapolis, IN 46240
      View Details

    Similar Nearby for Sale

    • $615,000

      Prime Nora Commercial Land

      Indianapolis development opportunity.
      1005 86Th St, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      40,000 SF

      Two-Story Office Building with Atrium

      Two-story office building with strong tenant base and water views.
      8200 Haverstick Rd, Indianapolis, IN 46240
      View Details
    • $1,650,000
      3.00 Acres

      96th and Haverstick Rd

      Land • 3.00 Acres
      2850 96Th St, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      8,545 SF

      Restaurant/Retail Opportunity in Keystone Crossing

      Former restaurant with frontage on 96th Street in Indianapolis.
      3835 E 96Th St, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      Pending

      Residential Lot Near White River

      Residential lot in River Park community, close to Keystone.
      2424 Beach Ave, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      29,232 SF

      Keystone Crossing Affordable Office Space

      Full-service office space in a prime, convenient Indianapolis location.
      Indianapolis, IN 46240
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      29,838 SF

      Class A Office Environment

      Class A office space with lakefront views and modern amenities.
      9365 Counselors Row, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      3,117 SF

      Office Space with Lake Views

      Office space with lake views, fitness center, and walking trail.
      3925 River Crossing Pkwy, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      34,669 SF

      Indianapolis Office Space For Lease

      Office space with lakefront amenities in Indianapolis, Indiana.
      9229 Delegates Row, Indianapolis, IN 46240
      View Details
    • $402 /Mo
      335,179 SF

      Keystone Crossing Office Space

      Indianapolis Class A Office Suites Available
      8888 Keystone Xing, Indianapolis, IN 46240
      View Details
    • $19 SF/Yr
      1,640 SF

      Keystone Crossing Executive Suite

      Indianapolis Office Space Available Now
      8445 Keystone Xing, Indianapolis, IN 46240
      View Details
    • $357 /Mo
      244,771 SF

      Keystone Crossing Office Space

      Class A Office Suites in Indianapolis
      8900 Keystone Xing, Indianapolis, IN 46240
      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.
    3575 79th St
    Indianapolis, IN 46240-3404
    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.