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    6501 Meridian St Indianapolis, IN 46260-4274
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    Property profile & analytics

    6501 Meridian St Indianapolis, IN 46260-4274

    View on Map
    • Office properties & Spaces
    • 53,353 SF
    • 9.54 lot acres
    Off-Market
    Property ID
    US31-1110679
    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.
    Value Estimations
    $3,915,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Indianapolis Hebrew Congregation / Synagogue

    Property Details for 6501 Meridian St

    Year built
    1957
    Construction
    TYPE NOT SPECIFIED
    Lot size
    9.54 lot acres
    Property size
    53,353 SF
    Property type
    Office properties & Spaces
    APN
    49-03-35-115-014.000-820
    APU
    490335115014000820

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,089,000
      Market price range: $1.59M - $6.38M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,995,000
      Current use
      AUTO REPAIR, GARAGE
      $4,250,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $3,990,000
      Change: -0% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $3,330,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1564
    Latitude
    39.8758
    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
    $2,285,500
    $3,298,200
    $5,583,700
    -
    $2,285,500
    $3,298,200
    $5,583,700

    Comparable in this City

    • Value Estimation
      $7,055,000
      81,071 SF

      100 86th St

      OFFICE (GENERAL) • 81,071 SF
      100 86th St, Indianapolis, IN 46260-2316
      View Details
    • Value Estimation
      $855,000
      9,204 SF

      2025 Dugan Dr

      OFFICE (GENERAL) • 9,204 SF
      2025 Dugan Dr, Indianapolis, IN 46260-1909
      View Details
    • Value Estimation by Request
      9,880 SF

      9001 Meridian St

      OFFICE (GENERAL) • 9,880 SF
      9001 Meridian St, Indianapolis, IN 46260-2333
      View Details
    • Value Estimation
      $1,360,000
      8,068 SF

      8702 Meridian St

      OFFICE (GENERAL) • 8,068 SF
      8702 Meridian St, Indianapolis, IN 46260
      View Details
    • Value Estimation by Request
      11,003 SF

      2250 86th St

      OFFICE (GENERAL) • 11,003 SF
      2250 86th St, Indianapolis, IN 46260-1993
      View Details
    • Value Estimation
      $5,300,000
      71,710 SF

      1805 86th St

      OFFICE (GENERAL) • 71,710 SF
      1805 86th St, Indianapolis, IN 46260
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Indianapolis Office Building for Sale

      Office building with significant square footage available for purchase.
      6601 Grandview Dr, Indianapolis, IN 46260
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      12,681 SF

      Surgery Center Near Ascension St.

      Surgery center near Ascension St. Vincent Indianapolis campus.
      8651 Township Line Rd, Indianapolis, IN 46260
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    • $475,000
      0.50 Acres

      Residential Lots in Meridian Hills

      Residential lots for sale in Meridian Hills, Indianapolis.
      7127 N Meridian St, Indianapolis, IN 46260
      View Details
    • Contact for pricing

      Land Available for Development

      52 to 143 acres available for build-to-suit opportunities.
      96Th St, Indianapolis, IN 46260
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 8902 N Meridian St.
      8902 N Meridian St, Indianapolis, IN 46260
      View Details
    • Contact for pricing

      Prime Meridian Corridor Office Space

      Office space with high visibility and convenient highway access.
      9245 N Meridian St, Indianapolis, IN 46260
      View Details
    • $22 SF/Yr
      18,815 SF

      Township Line Road Office Space

      First floor office space near Ascension St. Vincent Hospital.
      8081 Township Line Rd, Indianapolis, IN 46260
      View Details
    • Contact for pricing
      120,000 SF

      Prime Indianapolis Redevelopment Opportunity

      Redevelopment opportunity in high-demand North Meridian corridor.
      1300 E 96Th St, Indianapolis, IN 46260
      View Details
    • Contact for pricing

      Office and Medical Space Available

      Office and medical space near Ascension St. Vincent's Hospital.
      2160 West 86Th St, Indianapolis, IN 46260
      View Details
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    Indianapolis, IN 46260-4274
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    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
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