Property profile

755 Carmel Dr Carmel, IN 46032

OFF-MARKET
Office Spaces
Property ID
US31-3538549
41,054 SF 2.7 ac lot Built 1999
Entity Owned 2-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

755 W Carmel Drive presents a remarkable investment opportunity in a thriving Carmel location. This multi-tenant Class A office building boasts a total of 45,255 square feet situated on a meticulously landscaped 2.99-acre site. The property's strategic positioning offers unparalleled access to the vibrant Carmel City Center and the renowned Carmel Arts District, ensuring high visibility and convenient access for tenants and clients. Currently, there are three available office spaces ranging in size from 675 square feet to 2,060 square feet, providing flexibility for businesses of varying scales. The building's M-3 zoning allows for a diverse range of professional uses, making it ideal for executive offices and medical practices alike. This exceptional property offers a blend of prime location, modern amenities, and ample space, presenting a compelling opportunity for discerning investors and businesses seeking a prestigious address in Carmel, Hamilton County. The fully improved 2.99-acre lot provides ample parking and potential for future expansion. The building's high-quality construction and desirable location ensure strong tenant demand and long-term value. This is a rare opportunity to acquire a well-maintained, high-performing asset in a highly sought-after area.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1999
Construction WOOD
Total area 41,054 SF
Lot 2.7 ac (117,612 SF)
APN 29-09-36-002-010.000-018
UPID US31-3538549

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Clothing & Fashion Store
  • (Bike/Boat/Book/etc) Store
  • Hospital
  • Medical Clinic
  • Counselor Child Psychologist

Location

755 Carmel Dr Carmel, IN 46032-5877
Carmel metro Census 111012 INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$8.53M
Comparable Approach Comparable
$7.42M
Blend (final) Blend
$13.45M

Owner & transaction history

since 2023
Last sale
$9.0M
5 recorded transactions
2023
$9.0M
2020
Price N/A
2014
Price N/A
2013
$3.0M
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Retail stores $13.6M +19.8%
Auto repair, garage $11.9M +4.3%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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