Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    402 Prospect St Indianapolis, IN 46225-1351

    • Theaters & concert halls
    • 26,406 SF
    • 0.68 lot acres
    OFF-MARKET
    Value Estimation
    $505,000
    Location Intelligence
    Property ID
    US31-0712478
    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.

    Current Use by Public Records

    • Immanuel United Church of Christ / United Church Of Christ

    Property Details for 402 Prospect St

    Year built
    1894
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.68 lot acres
    Property size
    26,406 SF
    Zone code
    ZO01
    Property type
    Theaters & concert halls
    APN
    49-11-12-158-011.000-101
    APU
    491112158011000101

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $505,000

    • CAP approach

      CAP return
      Estimation
      6%
      $600,000
      6.5%
      $575,000
      7%
      $530,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $605,000
      Geo Method
      $570,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $605,000
      Retail
      $520,000
      Mixed-Use
      $460,000
      Hospitality
      $590,000
      Educational
      $495,000
      Residential Income
      $610,000
      Energy
      $555,000
      Income-Based Land
      $510,000
      Food Service
      $580,000

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1506
    Latitude
    39.7527
    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
    $0.00
    $131,300
    $562,300
    $693,600
    -
    $131,300
    $562,300
    $693,600

    Comparable in this City

    • Value Estimation by Request
      23,064 SF

      1518 Un St

      THEATER (MOVIE) • 23,064 SF
      1518 Un St, Indianapolis, IN 46225
      View Details
    • Value Estimation
      $295,000
      4,418 SF

      230 Morris St

      THEATER (MOVIE) • 4,418 SF
      230 Morris St, Indianapolis, IN 46225-1480
      View Details
    • Value Estimation by Request
      13,974 SF

      1310 Meridian St

      THEATER (MOVIE) • 13,974 SF
      1310 Meridian St, Indianapolis, IN 46225-1524
      View Details
    • Value Estimation
      $165,000
      10,414 SF

      1909 St

      THEATER (MOVIE) • 10,414 SF
      1909 St, Indianapolis, IN 46225-1847
      View Details
    • Value Estimation by Request
      10,000 SF

      2326 Meridian St

      THEATER (MOVIE) • 10,000 SF
      2326 Meridian St, Indianapolis, IN 46225
      View Details
    • Value Estimation by Request
      7,162 SF

      1146 Kenwood Ave

      THEATER (MOVIE) • 7,162 SF
      1146 Kenwood Ave, Indianapolis, IN 46225-1414
      View Details

    Similar Nearby for Sale

    • $109,900
      1,848 SF

      Prime Indy Industrial Corner Lot

      C-3 zoned, 1848 sq ft building, high visibility.
      2165 Meridian St, Indianapolis, IN 46225
      View Details
    • $199,900
      1,350 SF

      Prime Indy Corner Lot Investment

      High-Visibility Commercial Property, Three Lots
      130 Raymond St, Indianapolis, IN 46225
      View Details
    • $34,900
      Pending

      Residential Lot in Bates-Hendricks

      Vacant city lot in prime Indianapolis location.
      334 Lincoln St, Indianapolis, IN 46225
      View Details
    • $225,000
      Pending

      Prime Residential Development Opportunity

      11 contiguous lots near downtown Indianapolis, ideal for development.
      2249-2287 S Madison Ave, Indianapolis, IN 46225
      View Details
    • $49,000
      0.12 Acres

      Residential Lots Near Downtown Indianapolis

      Vacant lot with residential buildability in a C-3 zone.
      1417 S Meridian St, Indianapolis, IN 46225
      View Details
    • $799,000

      Industrial Building Near Downtown Indianapolis

      Industrial building with manufacturing history, close to downtown Indianapolis.
      205 Palmer St, Indianapolis, IN 46225
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,272 SF

      Downtown Indianapolis Creative Workspace

      High-profile office space with amenities in downtown Indianapolis.
      201 N Illinois St, Indianapolis, IN 46225
      View Details
    • $24 SF/Yr
      4,200 SF

      Downtown Indy Office Space

      Historic building, fully renovated, 4,200 sq ft.
      8 Louisiana St, Indianapolis, IN 46225
      View Details
    • Contact for pricing

      Industrial Land For Lease

      3.3 acres of secured industrial land available for lease.
      602 W Ray St, Indianapolis, IN 46225
      View Details
    • Contact for pricing

      Industrial Land with Secured Yard

      5-acre industrial land with office trailer and secured storage.
      2341 S West St, Indianapolis, IN 46225
      View Details
    • Contact for pricing
      2,941 SF

      Class B Office Space Available

      Two-story office building with on-site parking and signage.
      1314 N Meridian St, Indianapolis, IN 46225
      View Details
    • Contact for pricing
      200,000 SF

      Office Space with Parking Garage

      Office space for lease with attached nine-story parking garage.
      546 S Meridian St, Indianapolis, IN 46225
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    402 Prospect St
    Indianapolis, IN 46225-1351
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.