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Property profile & analytics
OFF-MARKET
Estimated value
$3,655,000
Warehouses
402 Kentucky Ave Indianapolis, IN 46225-1175
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-1283359
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1950
Construction
WOOD
Total area
66,555 SF
Lot
9.35 ac (407,330 SF)
APN
49-11-11-183-016.000-101
UPID
US31-1283359
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
-
Indy Eleven Sports School Sports Field & Court
-
Diamond Chain Lot Parking Lot & Garage
-
Eleven Park Sports Field & Court Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.23M
Blend (final)
Blend
$3.66M
Owner & transaction history
402 Kentucky Ave LLC · 4 yrs held
402 Kentucky Ave LLC
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.3M
+96.5%
Commercial (general)
$5.0M
+84.8%
Retail stores
$5.0M
+84.4%
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
WAREHOUSE, STORAGE
$2,695,000
Current use
AUTO REPAIR, GARAGE
$5,300,000
Change: +97% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,985,000
Change: +85% · Conversion: Difficult
RETAIL STORES
$4,975,000
Change: +84% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$4,155,000
Change: +54% · Conversion: Easy
Blend value · Realmo final
$3.66M
Range $3.29M – $4.02M · ±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
$55 / 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
Tax billed
$69,661
Tax year 2023
Assessed value
$10,960,400
Assessed 2023
Previous assessed
$10,960,400
+0.0% YoY
Effective rate
0.64%
On assessed value
Assessed land
$10,960,400
Land market value
$10,960,400
Total market value
$10,960,400
Applied tax rate
101.0000
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1950
Construction
WOOD
Heating
NONE
Buildings
7
Stories
3
Total area
66,555 SF
Lot
9.35 ac (407,330 SF)
APN
49-11-11-183-016.000-101
UPID
US31-1283359
Jurisdiction
MARION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.0M
RETAIL STORES
Est. value
$5.0M
INDUSTRIAL (GENERAL)
Est. value
$4.2M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
INDUSTRIAL (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
1950
Construction
WOOD
Heating
NONE
Stories
3
Buildings
7
Lot
9.35 ac
Current owner
From public records · entity-resolved
402 Kentucky Ave LLC
Entity
Mailing address
111 MONUMENT CIR STE #900, INDIANAPOLIS, IN 46204-5106
Ownership since
2021
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
Oct 13, 2021
—
402 Kentucky Ave LLC
Amsted Industries Incorp
Special Warranty Deed
$9,367,680 · First Bank Richmond NA
Sep 10, 2021
—
Imft LLC
Kathryn A Faulkner
Personal Representative Deed
—
Aug 11, 2021
—
Imft LLC
Paterna Trust
Quit Claim Deed
related
—
Mar 27, 2019
—
Amsted Industries INC
Diamond Chain Co INC
Quit Claim Deed
related
—
Jun 1, 2016
—
Charles G Tindall
Tindall William G
Quit Claim Deed
related
—
May 3, 2006
—
Diamond Chain Co INC
—
Deed Of Trust
related
$775,000,000 · Citicorp North America
Nov 7, 2005
—
Diamond Chain Co INC
Amsted Industries INC
Quit Claim Deed
related
—
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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