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3905 W 96Th St, Indianapolis, IN 46268
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Property summary
AI-generated overview
This retail property consists of units ranging from approximately 1,400 to 4,834 square feet and offers pylon sign availability for tenant branding. The site is situated on the Carmel/Indianapolis border at 3905 W 96th St, Indianapolis, IN 46268, with visibility to I-465 and Michigan Road near the intersection of 96th Street and Michigan Road. The location provides high-traffic exposure at that intersection and supports customer access via convenient routing to and from I-465, with on- and off-street access.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1998
Construction
TYPE NOT SPECIFIED
Total area
26,460 SF
Lot
2.43 ac (105,763 SF)
Zoning code
ZO01
APN
49-03-18-105-011.000-600
UPID
US31-0766731
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
Barber Shop
-
(Bike/Boat/Book/etc) Store
-
Restaurant
-
(Bike/Boat/Book/etc) Store Cosmetic Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$540k
Owner & transaction history
since 2022
4 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Top alternative use upside
Auto repair, garage
$860,000
+57.9%
Commercial (general)
$740,000
+35.9%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$540k
Value range
$486k – $594k
±10% around blend
Estimated value / SF
$20 / SF
Confidence
Property data
100
Comparable evidence
60
$486k
blend $540k
$594k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
26,460 SF
Lot area
2.43 ac
Year built
1998
Stories
1
APN
49-03-18-105-011.000-600
Zoning
ZO01
Assessed value
$2,010,300
Annual tax
$46,894
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$565k
Range $338k – $682k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$540k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+58%
vs current-use indication
Commercial (general)
Neighborhood: Shopping Center · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.01M
Move the market yield to see immediate price impact.
Value / SF
$76
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$127k
$2.53M
$1.81M
$1.41M
$141k
$2.81M
$2.01M
$1.56M
$155k
$3.10M
$2.21M
$1.72M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$46,894
Tax year 2023
Assessed value
$2,010,300
Assessed 2023
Previous assessed
$2,010,300
+0.0% YoY
Effective rate
2.33%
On assessed value
Assessed land
$1,047,100
Assessed improvement
$963,200
Land market value
$1,047,100
Improvement market value
$963,200
Total market value
$2,010,300
Applied tax rate
600.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1998
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
26,460 SF
Lot
2.43 ac (105,763 SF)
Zoning code
ZO01
APN
49-03-18-105-011.000-600
UPID
US31-0766731
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, INZoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1998
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
2.43 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
ZO01
Jurisdiction
Indianapolis, IN
Recorded code
ZO01
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for ZO01 in Indianapolis, IN.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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