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

    6440 34th St Indianapolis, IN 46224-1138

    • Assisted living facilities
    • 35,537 SF
    • 2.19 lot acres
    OFF-MARKET
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0792092
    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

    • Hartman Sarah J / Physician
    • Northwest Healthcare Center / Health / Professional Services
    • ELLEN WAYMAN KAEHR / Geriatric Care Provider

    Property Details for 6440 34th St

    Year built
    1966
    Construction
    WOOD
    Lot size
    2.19 lot acres
    Property size
    35,537 SF
    Zone code
    ZO01
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    49-05-23-106-043.000-901
    APU
    490523106043000901

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $511,000
      Market price range: $437k - $698k

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $550,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.2729
    Latitude
    39.8166
    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
    $54,331
    $169,000
    $2,121,500
    $2,290,500
    -
    $169,000
    $2,121,500
    $2,290,500

    Comparable in this City

    • Value Estimation
      $900,000
      80,757 SF

      45 Beachway Dr

      HOMES (RETIRED, NURSING) • 80,757 SF
      45 Beachway Dr, Indianapolis, IN 46224-8501
      View Details
    • Value Estimation
      $1,245,000
      41,182 SF

      1045 Main St

      MEDICAL BUILDING • 41,182 SF
      1045 Main St, Indianapolis, IN 46224-6970
      View Details
    • Value Estimation by Request
      2,865 SF

      2727 High School Rd

      MEDICAL BUILDING • 2,865 SF
      2727 High School Rd, Indianapolis, IN 46224-2911
      View Details
    • Value Estimation by Request
      3,360 SF

      2955 High School Rd

      MEDICAL BUILDING • 3,360 SF
      2955 High School Rd, Indianapolis, IN 46224-2915
      View Details
    • Value Estimation by Request
      925 SF

      3413 Georgetown Rd

      MEDICAL BUILDING • 925 SF
      3413 Georgetown Rd, Indianapolis, IN 46224-1639
      View Details
    • Value Estimation by Request
      2,511 SF

      5912 16th St

      MEDICAL BUILDING • 2,511 SF
      5912 16th St, Indianapolis, IN 46224-6300
      View Details

    Similar Nearby for Sale

    • $1,500,000
      1.93 Acres

      Prime Indianapolis Commercial Land

      1.93 Acres, $1.5M Asking Price
      6351 Crawfordsville Rd, Indianapolis, IN 46224
      View Details
    • Contact for pricing
      16,901 SF

      Industrial Property with Leased Buildings

      Leased industrial property in Speedway, Indiana with income potential.
      2101 Cunningham Rd, Speedway, IN 46224
      View Details
    • $2,199,000
      5,497 SF

      Iconic Speedway Restaurant Business Opportunity

      Rare opportunity to own a booming, iconic restaurant business.
      5211 W 10Th St, Speedway, IN 46224
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,401 SF

      Freestanding Building Near Interstate 465

      Freestanding building suitable for office, medical, or retail use.
      5242 Rockville Rd, Indianapolis, IN 46224
      View Details
    • $18 SF/Yr
      16,000 SF

      Speedway Office Space for Lease

      Class A Office/Retail, Speedway, IN
      1552 Main St, Speedway, IN 46224
      View Details
    • Contact for pricing
      7,596 SF

      Office/Retail Space Near Speedway

      Sublease opportunity near Indianapolis Motor Speedway with parking.
      1552-1564 N Main St, Speedway, IN 46224
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Kroger-Anchored Center

      Retail space available in high-traffic shopping center near I-465.
      5718-5936 Crawfordsville Rd, Indianapolis, IN 46224
      View Details
    • Contact for pricing
      8,295 SF

      Retail Space in High-Traffic Center

      Retail space available in a busy shopping center.
      5900 Crawfordsville Rd, Indianapolis, IN 46224
      View Details
    • New
      Contact for pricing
      3,436 SF

      Spacious Top Floor Corner Suite

      4105 sqft office suite with excellent natural lighting.
      777 Beachway Dr, Indianapolis, IN 46224
      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.
    6440 34th St
    Indianapolis, IN 46224-1138
    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!