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Property profile & analytics
FOR LEASE
Warehouses
6352 Airway Dr Indianapolis, IN 46241
Entity Owned
~
Est. High Equity
Property ID
US31-0022609
For Lease
1 / 9
$111.48 SF/Yr
6352 Airway Dr, Indianapolis, IN 46241
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Construction
TYPE NOT SPECIFIED
Total area
49,813 SF
Lot
3.42 ac (148,975 SF)
Zoning code
ZO01
APN
49-12-26-101-005.000-200
UPID
US31-0022609
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
-
Global GSE Big Box & Wholesale Store
-
SUV Rental Indianapolis Car Rental Facility
-
6352 Airway Dr Parking Parking Lot & Garage
-
Medical Systems Corporation-Indiana Medical Supply Store
-
Aquatic Arts (Bike/Boat/Book/etc) Store Pet Store & Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.44M
CAP Approach
CAP
$4.64M
Comparable Approach
Comparable
$2.73M
Blend (final)
Blend
$3.44M
Owner & transaction history
Pink Ledger Holdings INC
Pink Ledger Holdings INC
since 2026
Last sale
$3.4M
7 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.0M
+96.5%
Commercial (general)
$3.7M
+84.8%
Retail stores
$3.7M
+84.4%
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
$3,440,000
ML approach
$3,440,000
CAP Approach
CAP Return
Estimation
6%
$5,025,000
6.5%
$4,640,000
7%
$4,310,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,965,000
Change: +97% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,730,000
Change: +85% · Conversion: Difficult
RETAIL STORES
$3,725,000
Change: +84% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,110,000
Change: +54% · Conversion: Easy
Blend value · Realmo final
$3.44M
Range $3.10M – $3.78M · ±10% · vs last sale $3.44M (Apr 24 2024)
Last sale anchor
$3.44M
Apr 24 2024
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
$69 / 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
$75,671
Tax year 2023
Assessed value
$2,478,400
Assessed 2023
Previous assessed
$2,478,400
+0.0% YoY
Effective rate
3.05%
On assessed value
Assessed land
$446,900
Assessed improvement
$2,031,500
Land market value
$446,900
Improvement market value
$2,031,500
Total market value
$2,478,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1992
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Total area
49,813 SF
Lot
3.42 ac (148,975 SF)
Zoning code
ZO01
APN
49-12-26-101-005.000-200
UPID
US31-0022609
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
AUTO REPAIR, GARAGE
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$3.7M
RETAIL STORES
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1992
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
3.42 ac
Current owner
From public records · entity-resolved
Pink Ledger Holdings INC
Entity
Mailing address
2710 WOODBURN AVE, CINCINNATI, OH 45206-1725
Ownership since
2026
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
Apr 23, 2026
$4,653,373
Pink Ledger Holdings INC
6352 Airway LLC
Special Warranty Deed
$3,600,000 · Stock Yards Bank And Trust Company
Apr 24, 2024
$3,439,780
6352 Airway LLC
Aquatic Arts LLC
Warranty Deed
—
Jul 8, 2021
—
Aquatic Arts LLC
Skybus LLC
Warranty Deed
$2,125,000 · Tricounty Bank & Trust Co
Oct 25, 2019
—
Skybus LLC
—
Deed
related
$2,252,500 · Briar Cap R/e Fund LLC
Sep 26, 2012
—
Skybus LLC
—
Deed Of Trust
related
$1,500,000 · Fifth Third Bank
Sep 12, 2007
—
Skybus LLC
Dd Real Estate Holdings LLC
Grant Deed
related
—
Mar 27, 2007
—
Dd Real Estate Holdings LLC
Ampmsc
Warranty Deed
related
—
—
—
Skybus LLC
—
Deed Of Trust
related
$2,252,500 · Briar Cap R/e Fund LLC
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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