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Property profile & analytics
OFF-MARKET
Estimated value
$2,560,000
Parking lots & garages
6349 College Ave Indianapolis, IN 46220-1743
Entity Owned
3-yr Hold
Free & Clear
Property ID
US31-0002479
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2016
Construction
CONCRETE
Total area
98,160 SF
Lot
0.65 ac (28,401 SF)
Zoning code
ZO01
APN
49-03-36-129-012.004-801
UPID
US31-0002479
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
-
Bragi Group Big Box & Wholesale Store
-
Stylish, Smart Studio Getaway Bed & Breakfast Restaurant
-
Olgyn Apparel Big Box & Wholesale Store
-
The Coil at Broad Ripple Apartment Complex Apartment Building
-
Gola Smisek Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.56M
Owner & transaction history
Coil Xiv LLC · 3 yrs held
Coil Xiv LLC
since 2022
2 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.0M
+47.9%
Medical building
$3.9M
+44.0%
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
PARKING LOT
$2,705,000
Current use
COMMERCIAL (GENERAL)
$4,000,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$3,895,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$2.56M
Range $2.30M – $2.82M · ±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
$120,643
Tax year 2023
Assessed value
$4,409,000
Assessed 2023
Previous assessed
$4,409,000
+0.0% YoY
Effective rate
2.74%
On assessed value
Assessed land
$468,600
Assessed improvement
$3,940,400
Land market value
$468,600
Improvement market value
$3,940,400
Total market value
$4,409,000
Applied tax rate
801.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2016
Construction
CONCRETE
Heating
NONE
Stories
3
Total area
98,160 SF
Lot
0.65 ac (28,401 SF)
Zoning code
ZO01
APN
49-03-36-129-012.004-801
UPID
US31-0002479
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
PARKING LOT Current
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$3.9M
PARKING LOT Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
2016
Construction
CONCRETE
Heating
NONE
Stories
3
Lot
0.65 ac
Current owner
From public records · entity-resolved
Coil Xiv LLC
Entity
Free & Clear · 3 yrs held
Mailing address
6349 N COLLEGE AVE, INDIANAPOLIS, IN 46220-1743
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2022
—
Coil Xiv LLC
Coil Apts LLC
Special Warranty Deed
—
Feb 7, 2014
$900,000
Broad Ripple Associates LLC
Macs Convenience Stores LLC
Grant Deed
$585,000 · First Internet Bk/in
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.
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