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Property profile & analytics
OFF-MARKET
Estimated value
$1,030,000
Medical Office Space
715 Carmel Dr Carmel, IN 46032-5806
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US31-0223360
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
TYPE NOT SPECIFIED
Total area
23,682 SF
Lot
2.59 ac (112,820 SF)
APN
29-09-36-002-009.005-018
UPID
US31-0223360
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
-
Carmel Advanced Dentistry Dental Office
-
Amanda's Exchange Discount Store (Bike/Boat/Book/etc) Store
-
Dr. Carrie A. Klene, DDS Dental Office
-
Hannah Jordan Jackson Dental Office
-
Dr. Olga Isyutina Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$966k
Blend (final)
Blend
$1.03M
Owner & transaction history
Carmel Drive Professional Ptrs · 18 yrs held
Carmel Drive Professional Ptrs
since 2007
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.6M
+53.3%
Neighborhood: shopping center
$1.4M
+40.0%
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 Carmel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carmel 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
$1,095,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,035,000
Current use
INDUSTRIAL (GENERAL)
$1,585,000
Change: +53% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,445,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$1.03M
Range $927k – $1.13M · ±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
$43 / 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
$64,658
Tax year 2023
Assessed value
$3,203,500
Assessed 2023
Previous assessed
$3,203,500
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$860,600
Assessed improvement
$2,342,900
Land market value
$860,600
Improvement market value
$2,342,900
Total market value
$3,203,500
Applied tax rate
18.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
23,682 SF
Lot
2.59 ac (112,820 SF)
APN
29-09-36-002-009.005-018
UPID
US31-0223360
Jurisdiction
HAMILTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.0M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
MEDICAL BUILDING Current
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2007
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
2.59 ac
Current owner
From public records · entity-resolved
Carmel Drive Professional Ptrs
Individual
Mailing address
715 W CARMEL DR STE #201, CARMEL, IN 46032-5881
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2019
—
Outlook Properties LLC
—
Deed
related
$1,198,000 · Keybank USA
Oct 14, 2016
—
Carmelk Drive Professional Partners
—
Deed
related
$3,167,000 · First Financial Bank NA
Jun 12, 2008
—
Carmel Drive Profs Ptrs LLC
—
Trustees Deed
related
$650,000 · Stock Yards Bank
Oct 12, 2007
—
Carmel Drive Professional Ptrs
Rei Real Estate Services LLC
Warranty Deed
$3,685,523 · Stock Yards Bank
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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