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Property profile & analytics
OFF-MARKET
Estimated value
$1,950,000
Industrial properties
475 Gradle Dr Carmel, IN 46032-2535
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0381438
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1978
Construction
TYPE NOT SPECIFIED
Total area
17,600 SF
Lot
2.25 ac (98,010 SF)
APN
29-09-36-000-036.008-018
UPID
US31-0381438
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
-
GEMCO General Contractor Construction Company
-
Ram Leasing Co General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.78M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.95M
Owner & transaction history
Gemco Gradle Drive LLC · 6 yrs held
Gemco Gradle Drive LLC
since 2020
Last sale
$1.7M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.5M
+111.5%
Restaurant
$2.3M
+93.7%
Auto repair, garage
$2.0M
+73.9%
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 Carmel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carmel 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%
$1,920,000
6.5%
$1,775,000
7%
$1,650,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,175,000
Current use
WAREHOUSE, STORAGE
$2,485,000
Change: +111% · Conversion: Easy
RESTAURANT
$2,280,000
Change: +94% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,045,000
Change: +74% · Conversion: Easy
RETAIL STORES
$1,840,000
Change: +56% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,315,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$1.95M
Range $1.76M – $2.15M · ±10% · vs last sale $1.65M (Jan 6 2020)
Last sale anchor
$1.65M
Jan 6 2020
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
$111 / 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
$15,435
Tax year 2023
Assessed value
$761,900
Assessed 2023
Previous assessed
$761,900
+0.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$468,800
Assessed improvement
$293,100
Land market value
$468,800
Improvement market value
$293,100
Total market value
$761,900
Applied tax rate
18.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
17,600 SF
Lot
2.25 ac (98,010 SF)
APN
29-09-36-000-036.008-018
UPID
US31-0381438
Jurisdiction
HAMILTON
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$2.5M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.3M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
2.25 ac
Current owner
From public records · entity-resolved
Gemco Gradle Drive LLC
Entity
Mailing address
6525 GUION RD, INDIANAPOLIS, IN 46268-4808
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2020
—
Gemco Gradle Drive LLC
Boto LLC
Limited Warranty Deed
$1,140,000 · Greenfield Banking Company
—
—
Boto LLC
—
Loan Modification
related
$575,000 · Harris NA
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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