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    3916 W 96Th St Indianapolis, IN 46268
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    3916 W 96Th St Indianapolis, IN 46268

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    • Commercial land
    For Sale
    $1,100,000
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    Carmel Development Site For Sale For Sale
    $1,100,000
    1.27 Acres

    Carmel Development Site For Sale

    1.27 acre development site zoned for clinic or medical office.

    3916 W 96th St, Indianapolis, IN 46268
    View Listing
    Property ID
    US31-0708189
    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

    • Commercial land

    Property Details for 3916 W 96Th St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Carmel Development Site with 1.27 acres zoned S-1, ideal for clinic or medical office, approximately 500 feet from 96th and Michigan Road intersection. May be combined with 3838 W. 96th Street (zoned Carmel B-7) for a total of 2.05 acres

    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
    Hamilton
    State
    Indiana
    Longitude
    -86.227401
    Latitude
    39.9267508

    Comparable in this City

    • Contact for pricing

      Prime Acreage on 86th Street

      Approximately one acre of commercial land with high traffic visibility.
      3637 W 86Th St, Indianapolis, IN 46268
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      1 SF

      Commercial Land on Michigan Road

      Commercial land available with frontage on Michigan Road.
      7403 North Michigan Rd, Indianapolis, IN 46268
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    • $1,200,000

      1.77 Acres Commercial Land

      1.77 acres of commercial land for sale.
      8771 Zionsville Rd, Indianapolis, IN 46268
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      Carmel Land for Retail

      2.67 acres in Carmel, Indiana, ideal for neighborhood retail.
      2711 E 96Th St, Indianapolis, IN 46268
      View Details
    • $2,500,000
      21,300 SF

      Versatile Retail and Industrial Opportunity

      3.05-acre property with retail and industrial components in Indianapolis, IN.
      5450 W 86Th St, Indianapolis, IN 46268
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      7,200 SF

      Northwest Indianapolis Office Building

      Well-located office property in a high-demand commercial area.
      8770 Purdue Rd, Indianapolis, IN 46268
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Acreage on 86th Street

      Approximately one acre of commercial land with high traffic visibility.
      3637 W 86Th St, Indianapolis, IN 46268
      View Details
    • Contact for pricing

      Carmel Land for Retail

      2.67 acres in Carmel, Indiana, ideal for neighborhood retail.
      2711 E 96Th St, Indianapolis, IN 46268
      View Details
    • Contact for pricing
      1 SF

      Commercial Land on Michigan Road

      Commercial land available with frontage on Michigan Road.
      7403 North Michigan Rd, Indianapolis, IN 46268
      View Details
    • $1,200,000

      1.77 Acres Commercial Land

      1.77 acres of commercial land for sale.
      8771 Zionsville Rd, Indianapolis, IN 46268
      View Details
    • $2,500,000
      21,300 SF

      Versatile Retail and Industrial Opportunity

      3.05-acre property with retail and industrial components in Indianapolis, IN.
      5450 W 86Th St, Indianapolis, IN 46268
      View Details
    • Contact for pricing
      7,200 SF

      Northwest Indianapolis Office Building

      Well-located office property in a high-demand commercial area.
      8770 Purdue Rd, Indianapolis, IN 46268
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      47-Acre Industrial Site Available

      Divisible industrial site with heavy industrial zoning and build-to-suit options.
      4902-5000 W 86Th St, Indianapolis, IN 46268
      View Details
    • Contact for pricing

      Park 100 Flex Space Available

      Flex spaces with office and drive-in doors in Park 100.
      8102-8176 Zionsville Rd, Indianapolis, IN 46268
      View Details
    • Contact for pricing

      Industrial Building with Drive-in Door

      17,206 SF industrial building with convenient highway access.
      8847 Commerce Park Pl, Indianapolis, IN 46268
      View Details
    • Contact for pricing
      20,000 SF

      Mixed-Use Development in Keystone Submarket

      Office and retail spaces in a high-traffic, amenity-rich location.
      2730 E 86Th St, Indianapolis, IN 46268
      View Details
    • Contact for pricing
      4,825 SF

      Retail Space Available For Rent

      Retail space available for lease in Indianapolis, Indiana.
      8320 Michigan Rd, Indianapolis, IN 46268
      View Details
    • $2,250 /Mo

      Renovated Commercial Space on 96th

      Newly renovated commercial space in high-traffic Indianapolis location.
      3802 W 96Th St, Indianapolis, IN 46268
      View Details
    View Listing
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    Indianapolis, IN 46268
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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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