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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
5060 38th St Indianapolis, IN 46218-1715
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0027032
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1959
Construction
WOOD
Total area
2,718 SF
Lot
0.51 ac (22,216 SF)
Zoning code
ZO01
APN
49-07-16-123-018.000-801
UPID
US31-0027032
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
-
Famous Steak & Lemonade Restaurant Take-out & Catering
-
Marathon Gas Gas Station
-
Indy Food Mart Grocery & Convenience Store
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
Dorgan Property INC · 1 yrs held
Dorgan Property INC
since 2025
6 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
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
$5,486
Tax year 2023
Assessed value
$200,500
Assessed 2023
Previous assessed
$200,500
+0.0% YoY
Effective rate
2.74%
On assessed value
Assessed land
$38,100
Assessed improvement
$162,400
Land market value
$38,100
Improvement market value
$162,400
Total market value
$200,500
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1959
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
2,718 SF
Lot
0.51 ac (22,216 SF)
Zoning code
ZO01
APN
49-07-16-123-018.000-801
UPID
US31-0027032
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1959
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
Dorgan Property INC
Entity
Free & Clear · 1 yrs held
Mailing address
6535 CRESSENDO PL, INDIANAPOLIS, IN 46259-6827
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2025
—
Dorgan Property INC
Laurance A Knox
Deed
—
Jun 19, 2020
$17,700
Indianapolis Public Transporta
Emerson Petroleum INC
Warranty Deed
—
Jun 16, 2014
—
Emerson Petroleum INC
Saleh,abdulrahman
Grant Deed
$1,050,000 · Indy Fuel INC
Jan 17, 2014
$200,000
Mohammed Abdallah
Saleh Anees
Quit Claim Deed
related
—
May 31, 2007
—
Abdulrahman Saleh
Almasad,malek
Quit Claim Deed
related
—
Mar 21, 2007
—
Anees Saleh
Salah,khalil
Quit Claim Deed
related
—
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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