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Property profile & analytics
FOR LEASE
Office Spaces
6111 West Hanna Ave Indianapolis, IN 46241
Entity Owned
1-yr Hold
Free & Clear
Property ID
US31-0958994
For Lease
$1,750,000
6111 West Hanna Ave, Indianapolis, IN 46241
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1974
Construction
WOOD
Total area
18,126 SF
Lot
22.69 ac (988,333 SF)
Zoning code
ZO01
APN
49-12-36-118-013.000-200
UPID
US31-0958994
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
-
Pride Truck Sales Indianapolis I-465 & I-70 Car Dealership
-
Safe and Secure Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.88M
Blend (final)
Blend
$1.75M
Owner & transaction history
Gtv Indianapolis LLC · 1 yrs held
Gtv Indianapolis LLC
since 2025
6 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+6.3%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,360,000
Current use
AUTO REPAIR, GARAGE
$1,445,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$1,355,000
Change: 0% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,130,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$1.75M
Range $1.58M – $1.93M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$97 / 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
$45,801
Tax year 2023
Assessed value
$1,500,100
Assessed 2023
Previous assessed
$1,500,100
+0.0% YoY
Effective rate
3.05%
On assessed value
Assessed land
$1,130,300
Assessed improvement
$369,800
Land market value
$1,130,300
Improvement market value
$369,800
Total market value
$1,500,100
Applied tax rate
200.0000
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
For Lease
Year built
1974
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
18,126 SF
Lot
22.69 ac (988,333 SF)
Zoning code
ZO01
APN
49-12-36-118-013.000-200
UPID
US31-0958994
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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
22.69 ac
Current owner
From public records · entity-resolved
Gtv Indianapolis LLC
Entity
Free & Clear · 1 yrs held
Mailing address
8 THE GRNR, DOVER, DE 19901-3618
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2026
—
Gtv Indianapolis LLC
—
Deed
related
$22,000,000 · Wintrust Bank
Jan 24, 2025
—
Gtv Indianapolis LLC
Terminal Road Holding Corp
Special Warranty Deed
—
Oct 29, 2021
—
Terminal Road Holding Corp
6111 LLC
Warranty Deed
$30,000,000 · Roynat INC
May 1, 2020
—
6111 LLC
Harding Ohab Realty LLC
Warranty Deed
$2,050,000 · Community First Bank
Oct 24, 2018
—
Harding Realty LLC
—
Grant Deed
related
$69,619,186 · First Merchants Bk
Jun 3, 2015
—
Harding Realty LLC
Boxcar Railway LLC
Trustees Deed
$1,200,000 · Salin Bk&tr
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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