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Property profile & analytics
OFF-MARKET
Strip malls
6929 38th St Indianapolis, IN 46254-3905
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-0648442
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2018
Construction
WOOD
Total area
7,781 SF
Lot
0.28 ac (12,066 SF)
Zoning code
ZO01
APN
49-05-23-100-026.000-900
UPID
US31-0648442
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
-
PetVet365 Pet Hospital Indianapolis / Eagle Creek Veterinary Clinic
-
Artisan Vapor & CBD Eagle Creek | Vape Shop | Smoke Shop | Delta 8 THC | THCA | Geek Bar | Hometown Hero | 3Chi | Kratom (Bike/Boat/Book/etc) Store Alternative Medicine Practice
-
Starbucks Cafe & Coffee Shop
-
Great Clips Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Midwestern Investment Group LLC · 2 yrs held
Midwestern Investment Group LLC
since 2024
7 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$26,266
Tax year 2023
Assessed value
$784,100
Assessed 2023
Previous assessed
$784,100
+0.0% YoY
Effective rate
3.35%
On assessed value
Assessed land
$84,900
Assessed improvement
$699,200
Land market value
$84,900
Improvement market value
$699,200
Total market value
$784,100
Applied tax rate
900.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2018
Construction
WOOD
Heating
NONE
Stories
1
Total area
7,781 SF
Lot
0.28 ac (12,066 SF)
Zoning code
ZO01
APN
49-05-23-100-026.000-900
UPID
US31-0648442
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.
Building & site characteristics
From public records
Year built
2018
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Midwestern Investment Group LLC
Entity
Mailing address
1423 FLORESTA PL, PACIFIC PALISADES, CA 90272-2350
Ownership since
2024
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
Jun 11, 2024
—
Midwestern Investment Group LLC
845 W Beach LLC
Warranty Deed
$2,000,000 · First State Bank & Trust Co
Sep 4, 2018
—
845 W Beach LLC
Cornersite Indy LLC
Warranty Deed
—
Feb 6, 2018
—
Cornersite Indy LLC
—
Trustees Deed
related
$3,577,000 · Lake Forest Bk&tr
May 31, 2017
$620,000
Cornersite Indy LLC
Cornersite LLC
Quit Claim Deed
related
—
May 31, 2017
—
Cornersite LLC
Indiana Property Cartel
Warranty Deed
related
—
May 5, 2016
—
Indiana Property Cartel
—
Deed
related
$637,429 · Star Fin'l
—
—
Indiana Property Cartel
—
Deed Of Trust
related
$575,000 · Star Fin'l
—
—
Indiana Property Cartel
—
Loan Modification
related
$637,429 · Star Fin'l
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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