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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Theaters & concert halls
4011 Pennsylvania St Indianapolis, IN 46205-2608
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-3452954
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1960
Construction
TYPE NOT SPECIFIED
Total area
22,169 SF
Lot
1.5 ac (65,159 SF)
Zoning code
ZO01
APN
49-06-13-148-006.000-801
UPID
US31-3452954
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
-
Indianapolis Opera Theater & Performing Art Venue Music Venue
-
Indianapolis Movement Arts Collective Training Center
-
Indiana Writers Center Charitable Organization Social Service Agency
-
Indiana Geographic Information Council (IGIC) Charitable Organization Social Service Agency
-
Synergos AMC - Indianapolis Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$920k
Owner & transaction history
William S Oesterle · 3 yrs held
William S Oesterle
since 2023
7 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+63.2%
Industrial (general)
$1.3M
+35.4%
Office building
$1.1M
+16.8%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$940,000
Current use
AUTO REPAIR, GARAGE
$1,530,000
Change: +63% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,270,000
Change: +35% · Conversion: Difficult
OFFICE BUILDING
$1,095,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$950,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$41 / SF
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
Assessed value
$2,199,300
Assessed 2023
Previous assessed
$2,199,300
+0.0% YoY
Assessed land
$184,400
Assessed improvement
$2,014,900
Land market value
$184,400
Improvement market value
$2,014,900
Total market value
$2,199,300
Applied tax rate
801.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1960
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
22,169 SF
Lot
1.5 ac (65,159 SF)
Zoning code
ZO01
APN
49-06-13-148-006.000-801
UPID
US31-3452954
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.
Alternative use value scenarios
Repositioning upside vs current use
THEATER (MOVIE) Current
Est. value
$940,000
AUTO REPAIR, GARAGE
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$950,000
THEATER (MOVIE) Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
1.5 ac
Current owner
From public records · entity-resolved
William S Oesterle
Individual
Mailing address
4011 N PENNSYLVANIA ST, INDIANAPOLIS, IN 46205-2608
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2023
—
William S Oesterle
William S Oesterle
Intrafamily Transfer
related
—
Jul 7, 2022
—
William S Oesterle
William S Oesterle
Intrafamily Transfer
related
—
Aug 26, 2021
—
Indianapolis Opera Co
William S Oesterle
Warranty Deed
—
Jul 25, 2008
—
William S Oesterle
Greek Orthodox Church-the Holy
Warranty Deed
related
—
—
—
William S Oesterle
—
Deed Of Trust
related
$270,000 · National Bank Indianapolis
—
—
Oesterie,william S
—
Loan Modification
related
—
—
—
William S Oesterle
—
Deed Of Trust
related
$320,000 · National Bank Indianapolis
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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