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    Property profile & analytics

    3701 Shadeland Ave Indianapolis, IN 46226-5778

    • Commercial real estate
    • 22,500 SF
    • 1.17 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0620455
    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

    • Bando / (Bike/Boat/Book/etc) Store
    • Fequiere Auto Repair LLC / Auto Repair Shop / Motorcycle Shop
    • Los camaradas tire and mechanic shop / Auto Repair Shop
    • Bengkel / Auto Repair Shop
    • Martinez Auto Service / Auto Repair Shop

    Property Details for 3701 Shadeland Ave

    Year built
    1960
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.17 lot acres
    Property size
    22,500 SF
    Zone code
    ZO01
    Property type
    Commercial real estate
    APN
    49-07-24-123-028.000-700
    APU
    490724123028000700

    Description

    This exceptional retail space, located at 3701 Shadeland Ave., Indianapolis, IN 46226, offers 1,100 square feet of versatile flex space within a larger 22,750 square foot building. The property is classified as Class C and features a single building situated at the busy intersection of Shadeland Ave. and 38th St. in Marion County. Currently, one unit is available for lease, and it has recently undergone a complete white-boxing, providing a blank canvas for tenant improvements. The space is ideal for a variety of retail or flex uses. Lease terms are negotiable. This prime location boasts excellent visibility, with over 19,000 cars passing daily. The property's strategic location offers easy access to major transportation arteries, being only two miles from the I-465 and I-70 interchange, ensuring convenient access for both employees and customers. This presents a unique opportunity to establish a business in a high-traffic area with significant potential for growth. The property is part of a multi-tenant retail center with automotive-related uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $670,000
      Market price range: $671k - $2.69M
      AI Estimate
      $441,000
      Market price range: $441k - $2.07M

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.045
    Latitude
    39.8232
    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
    $5,010
    $77,000
    $97,400
    $174,400
    -
    $77,000
    $97,400
    $174,400

    Comparable in this City

    • Value Estimation by Request
      1,600 SF

      7911 46th St

      SHOW ROOM, WAREHOUSE • 1,600 SF
      7911 46th St, Indianapolis, IN 46226-3931
      View Details
    • Value Estimation by Request
      1,668 SF

      7445 Pendleton Pike

      COMMERCIAL (GENERAL) • 1,668 SF
      7445 Pendleton Pike, Indianapolis, IN 46226-5146
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    • Value Estimation by Request
      4,472 SF

      4618 Post Rd

      SHOW ROOM, WAREHOUSE • 4,472 SF
      4618 Post Rd, Indianapolis, IN 46226-4132
      View Details
    • Value Estimation by Request
      2,800 SF

      6765 38th St

      COMMERCIAL (GENERAL) • 2,800 SF
      6765 38th St, Indianapolis, IN 46226-5615
      View Details
    • Value Estimation by Request
      300 SF

      8103 45th St

      COMMERCIAL (GENERAL) • 300 SF
      8103 45th St, Indianapolis, IN 46226-3983
      View Details
    • Value Estimation by Request
      3,900 SF

      7911 46th St

      SHOW ROOM, WAREHOUSE • 3,900 SF
      7911 46th St, Indianapolis, IN 46226-3931
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Retail Space with High Visibility

      Retail space with excellent visibility and ample parking.
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    • New
      $75,000
      0.23 Acres

      Indianapolis Duplex Requiring Renovation

      Duplex for sale in Indianapolis, needs work, vacant units.
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      Subdividable Land Parcel Available

      Approximately 12 acres of land with retail zoning potential.
      3444 S Post Rd, Indianapolis, IN 46226
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    Similar Nearby for Lease

    • $4,500 /Mo
      10,800 SF

      Pendleton Pike Retail Space Available

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    • $20 SF/Yr
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      Retail Space on South Emerson

      Retail property for lease in Indianapolis with high visibility.
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      Retail Space on S. Emerson

      Retail space with frontage on S. Emerson Avenue.
      5135 S Emerson Ave, Indianapolis, IN 46226
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      Retail Space with Highway Access

      Retail spaces with easy access to major highways and corridors.
      7201 Pendleton Pike, Indianapolis, IN 46226
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    • $18 SF/Yr
      13,000 SF

      Retail Space on Shadeland Avenue

      13,000 SF retail space with high visibility and parking.
      4555 N Shadeland Ave, Indianapolis, IN 46226
      View Details
    • Contact for pricing
      3,348 SF

      Flex Space with Interstate Access

      Clean flex space with easy interstate access and ample parking.
      3250 N Post Rd, Indianapolis, IN 46226
      View Details
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    Indianapolis, IN 46226-5778
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    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
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