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Property profile & analytics
FOR LEASE
Retail space
5351 N Keystone Ave Indianapolis, IN 46220
Entity Owned
Free & Clear
Property ID
US31-1018797
For Lease
1 / 2
$20 SF/Yr
5351 N Keystone Ave, Indianapolis, IN 46220
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1971
Construction
TYPE NOT SPECIFIED
Total area
2,520 SF
Lot
0.18 ac (7,883 SF)
APN
49-07-08-113-017.000-801
UPID
US31-1018797
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
-
Smellingood Fragrances Cosmetic 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
Brpg Keystone LLC
Brpg Keystone LLC
since 2026
6 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
$3,612
Tax year 2023
Assessed value
$132,000
Assessed 2023
Previous assessed
$132,000
+0.0% YoY
Effective rate
2.74%
On assessed value
Assessed land
$37,600
Assessed improvement
$94,400
Land market value
$37,600
Improvement market value
$94,400
Total market value
$132,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1971
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
2,520 SF
Lot
0.18 ac (7,883 SF)
APN
49-07-08-113-017.000-801
UPID
US31-1018797
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
1971
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Brpg Keystone LLC
Entity
Free & Clear · 0 yrs held
Mailing address
5310 N KEYSTONE AVE, INDIANAPOLIS, IN 46220-3604
Ownership since
2026
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 3, 2026
—
Brpg Keystone LLC
—
Deed
related
—
Jan 7, 2026
—
Brpg Keystone LLC
Broad Ripple Property Group LLC
Quitclaim Deed
related
—
Nov 15, 2021
—
Broad Ripple Property Group LLC
Kohli Trust
Deed
—
Oct 7, 2019
—
Kohli,shajit & Shaan Trust
Boardwalk Properties LLP
Grant Deed
$1,000,000 · Forum Cu
May 7, 2008
—
Boardwalk Properties LLP
Artistic Skin Designs & Dynami
Quit Claim Deed
related
—
May 19, 2004
—
Boardwalk Properties LLP
Akron Realty Co
Warranty Deed
$875,000 · National City Bank Indiana
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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