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Property profile & analytics
OFF-MARKET
Estimated value
$1,150,000
Medical Office Space
535 Sheridan Rd Noblesville, IN 46060-1317
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-3510869
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2014
Construction
WOOD
Total area
10,891 SF
Lot
1.85 ac (80,586 SF)
APN
29-06-36-000-020.001-013
UPID
US31-3510869
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.15M
Owner & transaction history
Mdc Coastal 1 LLC · 4 yrs held
Mdc Coastal 1 LLC
since 2021
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+72.4%
Commercial (general)
$1.3M
+20.9%
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 Noblesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Noblesville 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%
$1,160,000
6.5%
$1,070,000
7%
$995,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,085,000
Current use
RESTAURANT
$1,870,000
Change: +72% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,310,000
Change: +21% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,065,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$1,030,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.15M
Range $1.04M – $1.27M · ±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
$106 / 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
$44,090
Tax year 2023
Assessed value
$1,631,700
Assessed 2023
Previous assessed
$1,631,700
+0.0% YoY
Effective rate
2.70%
On assessed value
Assessed land
$370,000
Assessed improvement
$1,261,700
Land market value
$370,000
Improvement market value
$1,261,700
Total market value
$1,631,700
Applied tax rate
13.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2014
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Rooms
9
Bathrooms
2
Total area
10,891 SF
Lot
1.85 ac (80,586 SF)
APN
29-06-36-000-020.001-013
UPID
US31-3510869
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
MEDICAL BUILDING Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
2014
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Rooms
9
Bathrooms
2
Lot
1.85 ac
Current owner
From public records · entity-resolved
Mdc Coastal 1 LLC
Entity
Mailing address
835 N CASS ST, WABASH, IN 46992-1613
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Sep 22, 2021
—
Mdc Coastal 1 LLC
Vision Properties LLP
Special Warranty Deed
—
Jan 26, 2015
—
Vision Properties LLP
—
Trustees Deed
related
$840,000 · First Merchants Bk
Nov 15, 2013
—
Riveredge Prof Center LLC
Vision Properties LLP
Warranty Deed
—
Jan 20, 2006
—
Vision Properties LLP
Robert R Greene
Warranty Deed
$452,000 · Frances Slocum Bank & Trust Co NA
—
—
Vision Properties LLP
—
Deed Of Trust
related
$8,479,985 · First Merchants Bank NA
—
—
Vision Properties LP
—
Deed Of Trust
related
$552,000 · First Merchants Bank 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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