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Property profile & analytics
OFF-MARKET
Strip malls
4602 Michigan St Indianapolis, IN 46201-2975
Individually Owned
5-yr Hold
Free & Clear
Property ID
US31-0753701
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1930
Construction
TYPE NOT SPECIFIED
Total area
7,718 SF
Lot
0.11 ac (5,001 SF)
APN
49-10-04-140-029.000-101
UPID
US31-0753701
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
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
Regat Seyoum · 5 yrs held
Regat Seyoum
since 2020
7 recorded transactions
Zoning & alternative use
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
$3,340
Tax year 2023
Assessed value
$120,400
Assessed 2023
Previous assessed
$120,400
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$11,000
Assessed improvement
$109,400
Land market value
$11,000
Improvement market value
$109,400
Total market value
$120,400
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1930
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Total area
7,718 SF
Lot
0.11 ac (5,001 SF)
APN
49-10-04-140-029.000-101
UPID
US31-0753701
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
Building & site characteristics
From public records
Year built
1930
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Regat Seyoum
Individual
Free & Clear · 5 yrs held
Mailing address
4220 E 42ND ST, INDIANAPOLIS, IN 46226-4457
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2020
—
Regat Seyoum
George Mimms
Quit Claim Deed
related
—
Jul 8, 2009
—
George Mimms
Apter Properties LLC
Warranty Deed
—
Sep 26, 2008
—
Apter Properties LLC
Smith,damon
Quit Claim Deed
related
—
Feb 15, 2008
—
Apter Properties LLC
Real Estate Network
Quit Claim Deed
related
—
Jan 4, 2007
$55,000
Damon Smith
Real Estate Network
Grant Deed
—
Aug 11, 2006
$15,000
Real Estate Network
Sheriff Of Marion County
Trustees Deed
—
Jan 9, 2004
—
Malaspino Restoration INC
Malaspino,john J SR
Quit Claim Deed
related
—
—
—
John J Malaspino SR.
—
Deed Of Trust
related
$330,000 · Key Bank & Trust
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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