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    3951 N Meridian St Indianapolis, IN 46208
    Property profile & analytics

    3951 N Meridian St, Indianapolis, IN 46208

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    • Office Spaces
    • 16,532 SF
    • 0.51 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Remodeled Office Building For Sale For Lease
    $18 SF/Yr
    15,300 SF

    Remodeled Office Building For Sale

    Recently remodeled office building with high visibility and convenient location.

    3951 N Meridian St, Indianapolis, IN
    View Listing
    Property ID
    US31-0139577
    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

    • Library of War / Historical Society
    • Jeff Kolp - State Farm Insurance Agent / Insurance Agency
    • Charles W. Clark / Marketing & Advertising / Advertising Agency
    • Meridian Hanna Citgo / Gas Station
    • Hoosier Environmental Council / Charitable Organization / Social Service Agency

    Property Details for 3951 N Meridian St

    Year built
    1962
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.51 lot acres
    Property type
    Office Spaces
    APN
    49-06-13-150-051.000-801
    APU
    490613150051000801

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 15, 2025 — Wdi Investment Group LLC Central Ave Properties LLC Special Warranty Deed $1.2M · Local Initiatives Support Corp
    Dec 1, 2022 — Hanna Petro INC Vaheguru LLC Deed $1.1M · Bmo Harris Bank NA
    Feb 13, 2019 — Vaheguru LLC Liberty Commercial Investors LLC Warranty Deed $900k · Bmo Harris Bank NA
    Mar 29, 2017 — Vaheguru LLC — Deed · related $300k · National Oil & Gas INC
    Nov 14, 2016 $800,000 Vaheguru LLC Liberty Commercial Invtrs LLC Grant Deed · related —
    — — Central Avenue Properties LLC — Deed Of Trust · related —

    Description

    This exceptional three-story Class B executive office building, totaling 15,300 square feet, presents a unique investment opportunity in Indianapolis, Indiana. Located at 3951 N. Meridian Street, this property boasts high visibility and signage on a major thoroughfare. The building underwent a complete renovation in 2016, encompassing the interior, bathrooms, roof, and parking lot. Upgrades include the installation of eco-friendly fixtures throughout. The ample 63-space parking lot adds significant convenience. Its strategic location offers easy access to downtown Indianapolis and Interstate 65, enhancing its appeal to businesses and employees alike. The property is zoned C1 and sits within an Opportunity Zone, providing potential tax advantages. Furthermore, its proximity to the Tarkington Park Redevelopment project positions it for future growth and increased value. This owner-occupant building is ideal for a company seeking a prominent presence on Meridian Street. The building's modern amenities, including a newly renovated common area, parking garage, electrical system, and HVAC system, ensure a comfortable and efficient workspace. This is a rare opportunity to acquire a meticulously maintained and well-located commercial property in a thriving Indianapolis neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $505,000
      Market price range: $268k - $1.27M

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1562
    Latitude
    39.8278
    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
    $14,138
    $73,900
    $442,800
    $516,700
    -
    $73,900
    $442,800
    $516,700

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    • Value Estimation
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      3135 Meridian St

      OFFICE (GENERAL)
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      View Details

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      Remodeled Office Building For Sale

      Recently remodeled office building with high visibility and convenient location.
      3951 N Meridian St, Indianapolis, IN 46208
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      Office Space in Center Township

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    Indianapolis, IN 46208
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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.

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