Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    624 Un St Westfield, IN 46074-9467

    • Theaters & concert halls
    • 5,338 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3406880
    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

    • Church of Christ / Church

    Property Details for 624 Un St

    Year built
    1994
    Construction
    WOOD
    Lot size
    0.90 lot acres
    Property size
    5,338 SF
    Property type
    Theaters & concert halls
    APN
    29-06-31-104-026.000-015
    APU
    290631104026000015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Westfield
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1272
    Latitude
    40.0509
    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
    $24,300
    $314,700
    $339,000
    -
    $24,300
    $314,700
    $339,000

    Comparable in this City

    • Value Estimation
      $1,070,000
      16,544 SF

      16162 Carey Rd

      THEATER (MOVIE) • 16,544 SF
      16162 Carey Rd, Westfield, IN 46074-8925
      View Details
    • Value Estimation by Request
      9,952 SF

      18323 Eagletown Rd

      THEATER (MOVIE) • 9,952 SF
      18323 Eagletown Rd, Westfield, IN 46074-9325
      View Details
    • Value Estimation by Request
      5,303 SF

      316 156th St

      THEATER (MOVIE) • 5,303 SF
      316 156th St, Westfield, IN 46074-0150
      View Details
    • Value Estimation
      $1,025,000
      24,609 SF

      318 Un St

      THEATER (MOVIE) • 24,609 SF
      318 Un St, Westfield, IN 46074-9461
      View Details
    • Value Estimation
      $535,000
      14,226 SF

      3233 166th St

      THEATER (MOVIE) • 14,226 SF
      3233 166th St, Westfield, IN 46074-8775
      View Details
    • Value Estimation
      $695,000
      26,260 SF

      204 College Ave

      THEATER (MOVIE) • 26,260 SF
      204 College Ave, Westfield, IN 46074-9448
      View Details

    Similar Nearby for Sale

    • $5,175,000
      30.00 Acres

      Westfield Commercial Land - 45 Acres

      Prime Commercial Land, Westfield, IN
      0 State Road 38, Westfield, IN 46074
      View Details
    • $6,357,000
      11,275 SF

      New Retail Property with Lease

      New retail property with a 15-year lease and annual increases.
      17313 Spring Mill Rd, Westfield, IN 46074
      View Details
    • Contact for pricing

      Westfield Land for Development

      12.08 acres with utilities and frontage on 191st Street.
      100 E 191St St, Westfield, IN 46074
      View Details
    • $4,200,000
      24.00 Acres

      Westfield Land Near Grand Park

      24 acres near Grand Park with development potential.
      W 193Rd St, Westfield, IN 46074
      View Details
    • Contact for pricing
      54.30 Acres

      Westfield Commercial Land Development

      54.3 Acres, Prime Hamilton County Location
      0 161St St, Westfield, IN 46074
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      946 SF

      Westfield Meijer Retail Space

      Prime in-store retail, high traffic.
      225 Springmill Pointe Dr, Westfield, IN 46074
      View Details
    • Contact for pricing
      22,167 SF

      Westfield Retail Center: Prime Location

      New construction, multi-tenant retail spaces.
      0 Westfield In, Westfield, IN 46074
      View Details
    • Contact for pricing
      62,000 SF

      Westfield Commercial Land Opportunity

      Prime 4.32-acre commercial lot, high-growth area.
      17300 Westfield Blvd, Westfield, IN 46074
      View Details
    • Contact for pricing
      14,000 SF

      Industrial Space Near US 31

      14,000 SF industrial property located 1.2 miles from US 31.
      17408 Tiller Ct, Westfield, IN 46074
      View Details
    • $18 SF/Yr
      200,000 SF

      Westfield, IN Warehouse Space

      Large Warehouse Space Available, Hamilton County
      910 169Th St, Westfield, IN 46074
      View Details
    • Contact for pricing
      13,048 SF

      Westfield Mixed-Use Development Opportunity

      64-acre mixed-use development with retail, residential, medical, and hospitality components.
      46074 Usa, Westfield, IN 46074
      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.
    624 Un St
    Westfield, IN 46074-9467
    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.
    Sign Up Successful!
    You now have access to more from Realmo!