Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5110 Madison Ave Indianapolis, IN 46227-4240

    • Office Properties & Spaces
    • 704 SF
    • 1.13 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0141864
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Beaman Associates Architects / Architect

    Property Details for 5110 Madison Ave

    Year built
    1930
    Construction
    WOOD
    Lot size
    1.13 lot acres
    Property size
    704 SF
    Zone code
    ZO01
    Property type
    Office Properties & Spaces
    APN
    49-15-06-136-005.000-500
    APU
    491506136005000500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.137
    Latitude
    39.6913
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,983
    $78,500
    $243,000
    $321,500
    -
    $78,500
    $243,000
    $321,500

    Comparable in this City

    • Value Estimation by Request
      1,500 SF

      4100 Continental Ct

      OFFICE (GENERAL) • 1,500 SF
      4100 Continental Ct, Indianapolis, IN 46227-9402
      View Details
    • Value Estimation by Request
      924 SF

      3510 Keystone Ave E E Ste

      OFFICE (GENERAL) • 924 SF
      3510 Keystone Ave E E Ste, Indianapolis, IN 46227-3594
      View Details
    • Value Estimation by Request
      852 SF

      3510 Keystone Ave Ste D

      OFFICE (GENERAL) • 852 SF
      3510 Keystone Ave Ste D, Indianapolis, IN 46227-3594
      View Details
    • Value Estimation
      $2,295,000
      24,676 SF

      7030 Us 31

      OFFICE (GENERAL) • 24,676 SF
      7030 Us 31, Indianapolis, IN 46227
      View Details
    • Value Estimation by Request
      1,356 SF

      824 County Line Rd

      Office Properties & Spaces • 1,356 SF
      824 County Line Rd, Indianapolis, IN 46227
      View Details
    • Value Estimation
      $985,000
      15,042 SF

      1319 Stop 10th Rd

      OFFICE (GENERAL) • 15,042 SF
      1319 Stop 10th Rd, Indianapolis, IN 46227-5934
      View Details

    Similar Nearby for Sale

    • $499,000
      0.48 Acres

      Indianapolis Office on US 31

      Office property with frontage on US 31 in Indianapolis.
      7530 Us 31S, Indianapolis, IN 46227
      View Details
    • $790,000
      7,800 SF

      Madison Avenue Commercial Site

      High-visibility commercial site with warehouse and office/storage structures.
      3604 Madison Ave, Indianapolis, IN 46227
      View Details
    • $1,150,000
      8,004 SF

      Indianapolis Office Building For Sale

      8,004 SF office building with customizable interiors and flexible floorplans.
      5222 S East St, Indianapolis, IN 46227
      View Details
    • $750,000
      11,142 SF

      Indianapolis Office Building Investment Opportunity

      11,142 SF office building for sale in Indianapolis.
      5214 S East St, Indianapolis, IN 46227
      View Details
    • Contact for pricing
      41,104 SF

      Professional Office Space Indianapolis

      Move-in ready office complex in a prime, park-like setting.
      5214-5226 S East St, Indianapolis, IN 46227
      View Details
    • $550,000
      1,680 SF

      Versatile Commercial Building on High-Traffic Corridor

      Freestanding 1,680 SF building on 0.49 acres in Indianapolis.
      6004 S East St, Indianapolis, IN 46227
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      9,938 SF

      Jamestowne Executive Suites: Indy

      Prime Indy executive office space available.
      6239 East St, Indianapolis, IN 46227
      View Details
    • $15 SF/Yr
      1,225 SF

      Prime Indy Office Space

      1,225 sq ft Traditional Office
      3725 Southport Rd, Indianapolis, IN 46227
      View Details
    • $20 SF/Yr
      57,964 SF

      Prime Indy Executive Suites

      Modern office space, flexible sizes, great location.
      5251 East St, Indianapolis, IN 46227
      View Details
    • $3,355 /Mo
      79,521 SF

      Adaptable Office and Retail Space

      Flexible commercial property with direct access and ample parking.
      6423 S East St, Indianapolis, IN 46227
      View Details
    • $880 /Mo
      57,964 SF

      Indianapolis Office Space For Rent

      Office space available for lease in Indianapolis, Indiana.
      5401 S East St, Indianapolis, IN 46227
      View Details
    • $1,200 /Mo
      57,964 SF

      Indianapolis Office Space For Lease

      Office space available for lease in Indianapolis, Indiana.
      5401 S East St, Indianapolis, IN 46227
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5110 Madison Ave
    Indianapolis, IN 46227-4240
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!