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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5865 Promenade Shops Blvd Noblesville, IN 46062-5600

    • Retail space
    • 12,941 SF
    • 2.03 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2022
    $6,599,808
    Value Estimations
    $7,280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0396763
    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

    • CVS Pharmacy / Pharmacy
    • CVS Photo / (Bike/Boat/Book/etc) Store
    • CVS / Pharmacy
    • Coinhub Bitcoin ATM Teller / Atm
    • LibertyX Bitcoin ATM / Atm

    Property Details for 5865 Promenade Shops Blvd

    Year built
    2008
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.03 lot acres
    Property size
    12,941 SF
    Property type
    Retail space
    APN
    29-06-34-003-001.000-013
    APU
    290634003001000013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,360,000
      ML approach
      $8,450,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,397,000
      Market price range: $2.18M - $6.40M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $5,620,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Noblesville
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.0701
    Latitude
    40.0439
    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
    $65,471
    $1,421,000
    $999,200
    $2,420,200
    -
    $1,421,000
    $999,200
    $2,420,200

    Comparable in this City

    • Value Estimation
      $1,270,000
      12,839 SF

      14835 Sunny Dell Ln

      RETAIL STORES (PERSONAL SERVICES) • 12,839 SF
      14835 Sunny Dell Ln, Noblesville, IN 46062-6984
      View Details
    • Value Estimation
      $575,000
      4,198 SF

      14795 Sunny Dell Ln

      RETAIL STORES (PERSONAL SERVICES) • 4,198 SF
      14795 Sunny Dell Ln, Noblesville, IN 46062-6983
      View Details
    • Value Estimation by Request
      4,032 SF

      15701 Cherry Tree Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,032 SF
      15701 Cherry Tree Rd, Noblesville, IN 46062
      View Details
    • Value Estimation by Request
      2,601 SF

      7201 196th St

      RETAIL STORES (PERSONAL SERVICES) • 2,601 SF
      7201 196th St, Noblesville, IN 46062-9333
      View Details
    • Value Estimation
      $755,000
      3,528 SF

      Morse Park Ln

      RETAIL STORES (PERSONAL SERVICES) • 3,528 SF
      Morse Park Ln, Noblesville, IN 46062
      View Details
    • Value Estimation
      $715,000
      12,800 SF

      17455 Bataan Ct

      RETAIL STORES (PERSONAL SERVICES) • 12,800 SF
      17455 Bataan Ct, Noblesville, IN 46062-9208
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Residential Land in Noblesville Area

      22.60 acres of land zoned for single-family residential use.
      21425 Shorevista Ln, Noblesville, IN 46062
      View Details
    • $1,400,000
      43.06 Acres

      Noblesville Acreage with Investment Potential

      43 acres in Noblesville, zoned for one residential unit.
      E 161St St, Noblesville, IN 46062
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      Ideal Westfield Mixed-Use Development Site

      Mixed-use development site with access to local amenities.
      3901 Westfield Rd, Noblesville, IN 46062
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      Westfield Road Land Available

      1.75 acres of land with direct access to SR 32.
      4005 Westfield Rd, Noblesville, IN 46062
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    • $369,000
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      Luxury Lakefront Condo with Views

      Rare corner unit with lake views, dock, and garage.
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      Waterfront Townhome with Boat Dock

      Low-maintenance waterfront living with boat dock on Morse Reservoir.
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    Similar Nearby for Lease

    • $1,200 /Mo
      2,275 SF

      Retail Space in Noblesville Center

      Retail space available in established Noblesville neighborhood shopping center.
      5855 E 211Th St, Noblesville, IN 46062
      View Details
    • Contact for pricing
      3,340 SF

      Retail Space in Noblesville, IN

      Retail space available in high-traffic Noblesville location.
      14765 Hazel Dell Xing, Noblesville, IN 46062
      View Details
    • Contact for pricing
      99,874 SF

      Noblesville Retail Center Opportunity

      Prime Retail Space, Multiple Units Available
      5956 Promenade Shops Blvd, Noblesville, IN 46062
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Noblesville

      Retail space available for lease in Noblesville, Indiana.
      5985 Promenade Shops Blvd, Noblesville, IN 46062
      View Details
    • Contact for pricing
      121,800 SF

      Noble West Shoppes: Retail Spaces

      Prime Noblesville retail space, 12 suites available.
      146th St & Hazel Dell Rd, Noblesville, IN 46062
      View Details
    • Contact for pricing
      7,237 SF

      Promenade Shops: Noblesville Retail Space

      Modern Office & Retail Suites in Noblesville, IN
      6199 Promenade Shops Blvd, Noblesville, IN 46062
      View Details
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    Noblesville, IN 46062-5600
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    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
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