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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Commercial real estate
502 Capitol Ave Indianapolis, IN 46204-1212
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0649441
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1910
Construction
TYPE NOT SPECIFIED
Total area
46,556 SF
Lot
1.33 ac (57,960 SF)
APN
49-11-02-219-002.000-101
UPID
US31-0649441
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
-
Latin Expressions Dance Company Theater & Performing Art Venue Training Center
-
Indianapolis Ballet Theater & Performing Art Venue Vocational School
-
Riolo Dance Training Center
-
Indy Hula Training Center
-
Naptown Ballroom Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$780k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.01M
Owner & transaction history
Cadillac Building INC · 7 yrs held
Cadillac Building INC
since 2019
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
Method
Estimation
Statistic approach
by Request
ML approach
$780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±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
$22 / 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
$54,380
Tax year 2023
Assessed value
$1,960,500
Assessed 2023
Previous assessed
$1,960,500
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$1,275,100
Assessed improvement
$685,400
Land market value
$1,275,100
Improvement market value
$685,400
Total market value
$1,960,500
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1910
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Total area
46,556 SF
Lot
1.33 ac (57,960 SF)
APN
49-11-02-219-002.000-101
UPID
US31-0649441
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
1910
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
1.33 ac
Current owner
From public records · entity-resolved
Cadillac Building INC
Entity
Mailing address
1128 MAIN ST, CINCINNATI, OH 45202-7276
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Mar 27, 2019
—
Cadillac Building INC
—
Deed
related
$3,450,000 · North Side Bk
—
—
Cadillac Building INC
—
Deed Of Trust
related
$3,450,000 · North Side Bk
—
—
Cadillac Building INC
—
Loan Modification
related
$3,500,000 · Mainsource Bk
—
—
Cadillac Building INC
—
Loan Modification
related
$1,727,228 · Mainsource Bk
—
—
Cadillac Building INC
—
Loan Modification
related
$1,500,000 · Mainsource Bank
—
—
Cadillac Building INC
—
Loan Modification
related
—
—
—
Cadillac Building INC
—
Deed Of Trust
related
$1,259,026 · First Cmnty Bk/richardson
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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