820 116th St Carmel, IN 46032-3482
Property Lookup
Property profile & analytics
820 116th St Carmel, IN 46032-3482
- Strip malls
- 15,840 SF
- 1.50 lot acres
Property ID
US31-0111823
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.
Location Intelligence
Current Use by Public Records
- M2 Physiotherapy / Medical Clinic
- Fred Astaire Dance Studios - Carmel / Training Center
- Upland Brewery / Bar & Pub
- Pho Plus / Restaurant
- The Scalp Oasis Luxury Head Spa and Facials / Spa & Massage Center
Property Details for 820 116th St
- Year built
- 2007
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.50 lot acres
- Property size
- 15,840 SF
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 29-09-36-000-060.102-018
- APU
- 290936000060102018
Description
This exceptional Class A shopping center in Carmel, Indiana, presents a compelling investment opportunity. The 44,714 square foot property, built in 2007, consists of three buildings on a 3.97-acre lot and features 17 units with 100% occupancy. Boasting a 7.09% cap rate and an asking price of $12,225,000 ($273.40/sq ft), this stabilized investment offers strong returns. The center benefits from a weighted average occupancy history of 8.7 years, with 65% of the gross leasable area occupied for 10+ years. Tenants contribute to operating expenses at a 98% recovery rate, covering CAM, taxes, insurance, and management fees. Average base rent is $20.33 per square foot, ranging from $16.72 to $24.50 per square foot, currently below market rates for comparable Carmel properties. The property enjoys excellent visibility and accessibility, with street frontage on 116th Street (approx. 19,000 ADT) and Guilford Road (approx. 6,000 ADT). Located in a highly affluent area, the center benefits from strong demographics: average household incomes within one, three, and five miles are $114,309, $147,117, and $156,218 respectively. Corresponding populations are 7,364, 62,575, and 178,331, with projected annual population growth of 2.64%, 1.79%, and 1.19% respectively (2024-2029). Within one and three miles, 68% and 69% of the population hold bachelor's degrees or higher. This prime retail location in Carmel, a consistently top-ranked community, offers exceptional potential for long-term growth and profitability.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,910,000
- 6.5%
- $3,610,000
- 7%
- $3,350,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Carmel
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.1432
- Latitude
- 39.957
- 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
$50,102
$450,000
$2,031,500
$2,481,500
-
$450,000
$2,031,500
$2,481,500
