Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6060 Castleway W Dr Indianapolis, IN 46250-1906

    • Office Properties & Spaces
    • 41,288 SF
    • 3.81 lot acres
    OFF-MARKET
    Value Estimations
    $3,635,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0721708
    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

    • Surgical Implants Inc / Dental Office
    • The Salvation Army Indiana Divisional Headquarters / Charitable Organization / Social Service Agency

    Property Details for 6060 Castleway W Dr

    Year built
    1978
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.81 lot acres
    Property size
    41,288 SF
    Zone code
    ZO01
    Property type
    Office Properties & Spaces
    APN
    49-02-22-116-004.000-400
    APU
    490222116004000400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,759,000
      Market price range: $1.23M - $4.94M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,095,000
      Current use
      AUTO REPAIR, GARAGE
      $3,290,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $3,085,000
      Change: -0% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,580,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.0631
    Latitude
    39.9015
    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
    $0.00
    $730,800
    $4,762,800
    $5,493,600
    -
    $730,800
    $4,762,800
    $5,493,600

    Comparable in this City

    • Value Estimation
      $1,510,000
      53,566 SF

      8125 Knue Rd

      OFFICE (GENERAL) • 53,566 SF
      8125 Knue Rd, Indianapolis, IN 46250-1936
      View Details
    • Value Estimation
      $6,245,000
      87,746 SF

      5750 Castle Crk Pkwy N Dr

      OFFICE (GENERAL) • 87,746 SF
      5750 Castle Crk Pkwy N Dr, Indianapolis, IN 46250-4338
      View Details
    • Value Estimation
      $2,540,000
      99,598 SF

      5975 Castle Crk Pkwy

      OFFICE (GENERAL) • 99,598 SF
      5975 Castle Crk Pkwy, Indianapolis, IN 46250
      View Details
    • Value Estimation
      $1,820,000
      20,211 SF

      5233 79th St

      OFFICE (GENERAL) • 20,211 SF
      5233 79th St, Indianapolis, IN 46250-1701
      View Details
    • Value Estimation
      $740,000
      20,192 SF

      8021 Knue Rd

      OFFICE (GENERAL) • 20,192 SF
      8021 Knue Rd, Indianapolis, IN 46250-1974
      View Details
    • Value Estimation
      $615,000
      6,944 SF

      8310 Craig St

      OFFICE (GENERAL) • 6,944 SF
      8310 Craig St, Indianapolis, IN 46250-3593
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,994 SF

      Shadeland Avenue Professional Office Building

      Professional office building with signage and convenient highway access.
      7202-7212 N Shadeland Ave | Indianapolis, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      56,611 SF

      Office and Warehouse Combination Space

      Office and warehouse space featuring dock and door access.
      7990-8000 Castleway Dr, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      13,688 SF

      Office Space in Castleton Park

      Office space available for sale in Indianapolis, Indiana.
      6410-6420 Castleway Dr W, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      87,165 SF

      Updated Office Building Near I-465

      Full-service office building with modern amenities and highway visibility.
      6612 E 75 St | Indianapolis, Indianapolis, IN 46250
      View Details
    • $980,000

      Retail Property in Keystone Crossing

      Retail property in a commercially active and accessible location.
      8208 Allisonville Rd, Indianapolis, IN 46250
      View Details

    Similar Nearby for Lease

    • $228 SF/Yr
      5,260 SF

      Castleton Rd Commercial Spaces

      Indianapolis Office, Warehouse, & Flex Space
      8070 Castleton Rd, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      21,547 SF

      Class A Office Space Available

      Multi-story office building with upgraded amenities for lease.
      8520 Allison Pointe Blvd, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      15,933 SF

      Indianapolis Office Space For Rent

      Office space in Allison Pointe Business Park available for rent.
      8275 Allison Pointe Trl, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      480 SF

      Adaptable Office Building For Lease

      Two-story office building with prime frontage and flexible layouts.
      5455 W 86Th St, Indianapolis, IN 46250
      View Details
    • $15 SF/Yr
      18,818 SF

      Industrial & Office Space Sublease

      High-end industrial and office space available for sublease.
      8035 Craig St, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      7,866 SF

      Office Space in Castleton Park

      Office space available for lease in Indianapolis, Indiana.
      8140 Knue Rd, Indianapolis, IN 46250
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6060 Castleway W Dr
    Indianapolis, IN 46250-1906
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.