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Property profile & analytics
OFF-MARKET
Estimated value
$2,380,000
Office Spaces
5604 74th St Indianapolis, IN 46278-1752
Entity Owned
Absentee Owner
Free & Clear
Property ID
US31-0903479
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1988
Construction
TYPE NOT SPECIFIED
Total area
135,242 SF
Lot
11.94 ac (520,324 SF)
Zoning code
ZO01
APN
49-04-26-117-002.000-600
UPID
US31-0903479
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
-
Linda Paden, DPT Physician
-
Concentra Urgent Care Physical Therapist Urgent Care Center
-
Dr. Kenneth Keller Pediatrician Physician
-
Graham Wilson, PT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.38M
Owner & transaction history
Park 117 & 120 Industrial LLC
Park 117 & 120 Industrial LLC
since 2025
5 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
$18 / 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
$139,535
Tax year 2023
Assessed value
$5,981,700
Assessed 2023
Previous assessed
$5,981,700
+0.0% YoY
Effective rate
2.33%
On assessed value
Assessed land
$896,100
Assessed improvement
$5,085,600
Land market value
$896,100
Improvement market value
$5,085,600
Total market value
$5,981,700
Applied tax rate
600.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1988
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
135,242 SF
Lot
11.94 ac (520,324 SF)
Zoning code
ZO01
APN
49-04-26-117-002.000-600
UPID
US31-0903479
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
1988
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
11.94 ac
Current owner
From public records · entity-resolved
Park 117 & 120 Industrial LLC
Entity
Free & Clear · 0 yrs held
Mailing address
4760 RICHMOND RD STE #200, CLEVELAND, OH 44128-5979
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2025
—
Park 117 & 120 Industrial LLC
Park Creek Propco LLC
Special Warranty Deed
—
May 13, 2019
—
Park Creek Propco LLC
Park Creek Jv LLC
Quit Claim Deed
related
$49,700,000 · Miscellaneous Ins Co
May 24, 2017
—
Park Creek Jv LLC
—
Grant Deed
related
$114,800,000 · Miscellaneous Ins Co
Oct 29, 2012
—
Creek Venture Park
—
Deed Of Trust
related
$24,000,000 · Bank Of America
May 26, 2009
—
Creek Venture Park
—
Deed Of Trust
related
$23,700,000 · State Of Wisconsin Inv Board
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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