Back to Search
Property profile & analytics
OFF-MARKET
Strip malls
5050 38th St Indianapolis, IN 46218-8301
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-3549859
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1967
Construction
TYPE NOT SPECIFIED
Total area
8,458 SF
Lot
0.76 ac (32,931 SF)
APN
49-07-16-123-020.000-801
UPID
US31-3549859
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
-
M & M 38th & Emerson Brbrshp Barber Shop
-
Jomo’s Prime Time Barbershop Barber Shop
-
Caribbean Grocery Store Grocery & Convenience Store Food Market
-
Sai ibrows Hair Salon Nail Salon
-
Indy Auto Finance Car Dealership
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
Emerson Square LLC · 10 yrs held
Emerson Square LLC
since 2015
5 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
$7,612
Tax year 2023
Assessed value
$278,200
Assessed 2023
Previous assessed
$278,200
+0.0% YoY
Effective rate
2.74%
On assessed value
Assessed land
$72,500
Assessed improvement
$205,700
Land market value
$72,500
Improvement market value
$205,700
Total market value
$278,200
Applied tax rate
801.0000
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
1967
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
8,458 SF
Lot
0.76 ac (32,931 SF)
APN
49-07-16-123-020.000-801
UPID
US31-3549859
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
1967
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.76 ac
Current owner
From public records · entity-resolved
Emerson Square LLC
Entity
Mailing address
8500 E 116TH ST UNIT #841, FISHERS, IN 46038-0439
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2015
—
Emerson Square LLC
Tibbs Property Management INC
Warranty Deed
$251,705 · Tibbs Property Management INC
Dec 30, 2009
$230,000
Tibbs Property Management
Gundrum,harry & Chong C
Grant Deed
—
Aug 25, 2005
—
American Reality Holdings LLC
—
Trustees Deed
related
$30,000 · Robert E Lehman
Feb 4, 2005
—
Emerson Square LLC
Gundrum,harry & Chong C
Warranty Deed
—
—
—
Chong C Gundrum
—
Deed Of Trust
related
$207,310 · Interbay Funding LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5050 38th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
