Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    3616 16th St Indianapolis, IN 46222-2502
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3616 16th St Indianapolis, IN 46222-2502

    View on Map
    • Office properties & Spaces
    • 2,592 SF
    • 0.13 lot acres
    Off-Market
    Last Sale Mar 23, 2020
    $78,000
    Property ID
    US31-1086481
    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

    • A1 Cutz / Barber Shop
    • The Sweet Potato / Bakery / Specialty Food Shop
    • Best Massage / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 3616 16th St

    Year built
    1925
    Construction
    WOOD
    Lot size
    0.13 lot acres
    Property size
    2,592 SF
    Zone code
    ZO01
    Property type
    Office properties & Spaces
    APN
    49-06-32-115-730.000-901
    APU
    490632115730000901

    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
    -86.2218
    Latitude
    39.788
    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
    $1,986
    $23,100
    $49,000
    $72,100
    -
    $23,100
    $49,000
    $72,100

    Comparable in this City

    • Value Estimation by Request
      1,799 SF

      3107 10th St

      OFFICE (GENERAL) • 1,799 SF
      3107 10th St, Indianapolis, IN 46222-3533
      View Details
    • Value Estimation by Request
      1,360 SF

      336 Holmes Ave

      OFFICE (GENERAL) • 1,360 SF
      336 Holmes Ave, Indianapolis, IN 46222-4118
      View Details
    • Value Estimation by Request
      3,700 SF

      425 Holt Rd

      OFFICE (GENERAL) • 3,700 SF
      425 Holt Rd, Indianapolis, IN 46222-3400
      View Details
    • Value Estimation
      $1,705,000
      16,565 SF

      2440 Ohio St

      OFFICE (GENERAL) • 16,565 SF
      2440 Ohio St, Indianapolis, IN 46222-4170
      View Details
    • Value Estimation
      $525,000
      12,996 SF

      3607 16th St

      OFFICE (GENERAL) • 12,996 SF
      3607 16th St, Indianapolis, IN 46222-2558
      View Details
    • Value Estimation by Request
      1,208 SF

      3805 16th St

      OFFICE (GENERAL) • 1,208 SF
      3805 16th St, Indianapolis, IN 46222-2509
      View Details

    Similar Nearby for Sale

    • $549,000
      3,008 SF

      Indianapolis Office Space For Sale

      Office space with great visibility, minutes from downtown Indianapolis.
      2226 W Michigan St, Indianapolis, IN 46222
      View Details
    • $1,500,000
      14,400 SF

      Indianapolis Event Center For Sale

      Event center with existing lease income through May 2026.
      1718 Lafayette Rd, Indianapolis, IN 46222
      View Details
    • Contact for pricing
      0.10 Acres

      Residential Lot For Sale

      Residential lot available for building a home in Indianapolis.
      572 Lynn St, Indianapolis, IN 46222
      View Details
    • $600,000
      2.74 Acres

      Industrial Land Near I-465

      2.74 acre industrial site with convenient highway access.
      3509 W 10Th St, Indianapolis, IN 46222
      View Details
    • Contact for pricing
      0.11 Acres

      Residential Lots in Indianapolis, IN

      Residential lots available for sale in Indianapolis, Indiana.
      915 N Traub Ave, Indianapolis, IN 46222
      View Details
    • $49,000
      0.18 Acres

      Oversized Double Lot Opportunity

      Large buildable lot near downtown Indianapolis and major medical centers.
      745 N Elder Ave, Indianapolis, IN 46222
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Building with Surface Parking

      Freestanding commercial building with surface parking available for lease.
      217 S Belmont Ave, Indianapolis, IN 46222
      View Details
    • Contact for pricing

      Renovated Office Building Near Downtown

      Updated two-story office building near downtown Indianapolis and Indianapolis Motor Speedway.
      3607 W 16Th St, Indianapolis, IN 46222
      View Details
    • Contact for pricing
      1,495 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
      3,368 SF

      Medical Office Building For Rent

      Three-story medical office building near downtown Indianapolis with ample parking.
      3660 Guion Rd, Indianapolis, IN 46222
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Indianapolis, Indiana.
      3790 Lafayette Rd, Indianapolis, IN 46222
      View Details
    • Contact for pricing
      7,346 SF

      Indianapolis Flex / Industrial Space

      Flex / Industrial space available for lease in Indianapolis.
      57 Gasoline Aly, 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.
    3616 16th St
    Indianapolis, IN 46222-2502
    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.
    Sign Up Successful!
    You now have access to more from Realmo!