Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,150,000
Retail space
6125 38th St Indianapolis, IN 46226-5603
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US31-0280023
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1961
Construction
TYPE NOT SPECIFIED
Total area
44,202 SF
Lot
8.57 ac (373,230 SF)
Zoning code
ZO01
APN
49-07-23-108-006.000-701
UPID
US31-0280023
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
-
Indyland II Laundromat (Bike/Boat/Book/etc) Store
-
Amazon Locker - Canoeing Postal Service Courier Service
-
Carpenters Apprenticeship Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.15M
Owner & transaction history
Indianapolis Public Transportation · 6 yrs held
Indianapolis Public Transportation
since 2019
7 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
Method
Estimation
Statistic approach
by Request
ML approach
$730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.15M
Range $1.04M – $1.27M · ±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
$26 / 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
$25,302
Tax year 2023
Assessed value
$925,300
Assessed 2023
Previous assessed
$925,300
+0.0% YoY
Effective rate
2.73%
On assessed value
Assessed land
$289,500
Assessed improvement
$635,800
Land market value
$289,500
Improvement market value
$635,800
Total market value
$925,300
Applied tax rate
701.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1961
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
44,202 SF
Lot
8.57 ac (373,230 SF)
Zoning code
ZO01
APN
49-07-23-108-006.000-701
UPID
US31-0280023
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
1961
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
8.57 ac
Current owner
From public records · entity-resolved
Indianapolis Public Transportation
Individual
Mailing address
6125 E 38TH ST, INDIANAPOLIS, IN 46226-5603
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2022
—
Niama Corp
—
Deed
related
$1,292,200 · Merchants Bank
Nov 26, 2019
$10,200
Indianapolis Public Transportation
Niama Corp
Warranty Deed
—
Nov 26, 2019
—
Indianapolis Public Transportation
Vertical Bridge Development LLC
Quit Claim Deed
related
—
Jul 29, 2016
—
Niama Corp
—
Deed
related
$462,500 · Old Nat'l Bk
Jun 13, 2016
—
Niama Corp
—
Deed
related
$382,000 · Premier Capital Corporation
Mar 12, 2014
—
Niama Corp
The Indiana Kentucky Ohio Regional
Warranty Deed
$320,000 · Old National Bank
Feb 28, 2014
$550,000
Niami Corp
Not Provided
Deed
—
—
—
Niama Corp
—
Loan Modification
related
$462,500 · Old Nat'l Bk
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?”
You own 6125 38th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
