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    Property profile & analytics

    598 Carmel Dr Carmel, IN 46032-2666

    • Retail space
    • 22,764 SF
    • 2.06 lot acres
    OFF-MARKET
    Value Estimation
    $4,470,000
    Last Sale
    Dec 30, 2022
    $4,000,000
    Location Intelligence
    Property ID
    US31-1437914
    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

    • Norris Portable Toilets / Portable Toilet Supplier
    • McCool's Flooring / Flooring Store
    • Griffon Decorative Fabric / Fabric Store
    • Legacy CNA Training / Nursing School
    • Pinnacle Firearms / Gun Shop

    Property Details for 598 Carmel Dr

    Year built
    1997
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.06 lot acres
    Property size
    22,764 SF
    Property type
    Retail space
    APN
    29-09-36-002-003.002-018
    APU
    290936002003002018

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $5,065,000

    • CAP approach

      CAP return
      Estimation
      6%
      $4,165,000
      6.5%
      $3,710,000
      7%
      $4,175,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $4,080,000
      Geo Method
      $3,470,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $4,030,000
      Retail
      $4,015,000
      Mixed-Use
      $4,725,000
      Hospitality
      $4,170,000
      Educational
      $3,870,000
      Residential Income
      $3,895,000
      Energy
      $4,015,000
      Income-Based Land
      $4,180,000
      Food Service
      $4,560,000

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1373
    Latitude
    39.9645
    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
    $32,641
    $566,500
    $1,048,900
    $1,615,400
    -
    $566,500
    $1,048,900
    $1,615,400

    Comparable in this City

    • Value Estimation by Request
      21,728 SF

      1424 Rangeline Rd

      RETAIL STORES (PERSONAL SERVICES) • 21,728 SF
      1424 Rangeline Rd, Carmel, IN 46032-2934
      View Details
    • Value Estimation by Request
      14,576 SF

      313 Carmel Dr

      RETAIL STORES (PERSONAL SERVICES) • 14,576 SF
      313 Carmel Dr, Carmel, IN 46032-2809
      View Details
    • Value Estimation
      $445,000
      6,440 SF

      303 Carmel Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,440 SF
      303 Carmel Dr, Carmel, IN 46032-2563
      View Details
    • Value Estimation
      $355,000
      1,500 SF

      22 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      22 Main St, Carmel, IN 46032-1764
      View Details
    • Value Estimation
      $535,000
      5,212 SF

      1st SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,212 SF
      1st SW Ave, Carmel, IN 46032
      View Details
    • Value Estimation
      $450,000
      5,724 SF

      111 Medical Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,724 SF
      111 Medical Dr, Carmel, IN 46032-2922
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,397 SF

      Carmel Retail Condominiums For Sale

      Three ground floor retail condominiums available in Carmel, Indiana.
      7015 E 146Th St, Carmel, IN 46032
      View Details
    • $3,000,000
      4,800 SF

      Downtown Carmel Office/Retail Gem

      4,800 SF Class A Office & Retail Space
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    • Contact for pricing
      3.60 Acres

      Downtown Carmel Development Land

      Prime 3.6-Acre Commercial Lot
      105 Carmel Dr, Carmel, IN 46032
      View Details
    • $1,050,000

      Carmel Land For Sale

      Approximately 1.78 acres of land zoned UC.
      12800 N Old Meridian St, Carmel, IN 46032
      View Details
    • $400,000
      Pending

      Carmel Office Property For Sale

      Commercial property in Carmel, Indiana, suitable for office conversion.
      3750 W 97Th St, Carmel, IN 46032
      View Details
    • $524,900
      1.00 Acre

      Carmel Acre Lot for Home

      One-acre residential lot in Asherwood, Carmel, build your dream home.
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    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Carmel Retail Space Available

      Retail space in affluent Carmel, Indiana, near major highway.
      13610-13710 N Meridian St, Carmel, IN 46032
      View Details
    • Contact for pricing
      1,200 SF

      Carmel Retail Space For Lease

      Highly visible retail space available for lease in Carmel, Indiana.
      154 Medical Dr, Carmel, IN 46032
      View Details
    • Contact for pricing
      2,430 SF

      Retail End Cap Suite Available

      Retail suite in high-traffic area near Meijer.
      12505 Old Meridian St, Carmel, IN 46032
      View Details
    • Contact for pricing
      2,520 SF

      Carmel Retail Space For Lease

      Retail space available in Carmel, Indiana, on North Meridian Street.
      13720-13756 N Meridian St, Carmel, IN 46032
      View Details
    • Contact for pricing
      1,275 SF

      Retail Space in High-Traffic Area

      1,275 SF retail space in Zionsville, high-traffic location.
      11145 N Michigan Rd, Carmel, IN 46032
      View Details
    • Contact for pricing
      2,193 SF

      Retail Space in Carmel, Indiana

      Retail space available for lease in Carmel, Indiana.
      11503 Springmill Rd, Carmel, IN 46032
      View Details
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    Carmel, IN 46032-2666
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    Realmo Value Estimation

    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.

    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.

    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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