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Property profile & analytics
OFF-MARKET
Strip malls
3940 Keystone Ave Indianapolis, IN 46227-3617
Trust Owned
Free & Clear
Property ID
US31-0532462
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1978
Construction
TYPE NOT SPECIFIED
Total area
17,660 SF
Lot
2.02 ac (88,035 SF)
Zoning code
ZO01
APN
49-10-30-123-002.000-574
UPID
US31-0532462
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Great Wall Chinese Restaurant Restaurant
-
Tienda Don Miguel Grocery & Convenience Store Food Market
-
Jaguar Smoke Shop (Bike/Boat/Book/etc) Store Alternative Medicine Practice
-
Boost Mobile Mobile Phone Store Electronics & Wireless Store
-
EZPAWN Discount Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Bane Trust
Bane Trust
since 2026
3 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$23,671
Tax year 2023
Assessed value
$847,200
Assessed 2023
Previous assessed
$847,200
+0.0% YoY
Effective rate
2.79%
On assessed value
Assessed land
$288,300
Assessed improvement
$558,900
Land market value
$288,300
Improvement market value
$558,900
Total market value
$847,200
Applied tax rate
574.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
17,660 SF
Lot
2.02 ac (88,035 SF)
Zoning code
ZO01
APN
49-10-30-123-002.000-574
UPID
US31-0532462
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
2.02 ac
Current owner
From public records · entity-resolved
Bane Trust
Trust
Free & Clear · 0 yrs held
Mailing address
19 HARBOURTOWN CTR, NOBLESVILLE, IN 46062-8982
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2026
—
Bane Trust
Bane Clene Corp
Quitclaim Deed
related
—
Jun 28, 2016
—
Kc Properties Of In LLC
Tcp South Keystone LLC
Special Warranty Deed
$987,000 · First Financial Bank NA
Jan 19, 2011
—
Tcp South Keystone LLC
K C Enterprises
Limited Warranty Deed
$715,000 · Centier Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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