Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8255 Craig St Indianapolis, IN 46250-4692

    • Strip malls
    • 20,400 SF
    • 3.00 lot acres
    OFF-MARKET
    Last Sale
    Apr 28, 2020
    $2,815,000
    Value Estimations
    $2,205,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3433841
    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.

    Current Use by Public Records

    • Mari's Barber Salon / Barber Shop
    • Le Peep Castleton / Breakfast Restaurant / American Restaurant
    • Pollo Michoacan / Restaurant
    • Supermercado Jireh / Mexican Grocery Store / Grocery Store
    • CT Nails / Nail Salon

    Property Details for 8255 Craig St

    Year built
    1986
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.00 lot acres
    Property size
    20,400 SF
    Zone code
    ZO01
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    49-02-22-105-011.000-400
    APU
    490222105011000400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,205,000
      ML approach
      $2,200,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,660,000
      RESTAURANT
      $1,400,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.0518
    Latitude
    39.906
    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
    $55,224
    $862,500
    $1,395,800
    $2,258,300
    -
    $862,500
    $1,395,800
    $2,258,300

    Comparable in this City

    • Value Estimation
      $615,000
      75,978 SF

      4026 82nd St

      SHOPPING CENTER, STRIP CENTER • 75,978 SF
      4026 82nd St, Indianapolis, IN 46250-4361
      View Details
    • Value Estimation
      $760,000
      49,499 SF

      5101 82nd St

      SHOPPING CENTER, STRIP CENTER • 49,499 SF
      5101 82nd St, Indianapolis, IN 46250
      View Details
    • Value Estimation
      $505,000
      26,100 SF

      7325 96th St

      SHOPPING CENTER, STRIP CENTER • 26,100 SF
      7325 96th St, Indianapolis, IN 46250-3305
      View Details
    • Value Estimation
      $320,000
      9,882 SF

      6805 Smt Hl Way

      SHOPPING CENTER, STRIP CENTER • 9,882 SF
      6805 Smt Hl Way, Indianapolis, IN 46250-2059
      View Details
    • Value Estimation
      $620,000
      52,948 SF

      8475 Castleton Cor Dr

      SHOPPING CENTER, STRIP CENTER • 52,948 SF
      8475 Castleton Cor Dr, Indianapolis, IN 46250-3580
      View Details
    • Value Estimation
      $450,000
      24,790 SF

      7381 Shadeland Ave

      SHOPPING CENTER, STRIP CENTER • 24,790 SF
      7381 Shadeland Ave, Indianapolis, IN 46250-2052
      View Details

    Similar Nearby for Sale

    • $4,343,000
      31,124 SF

      Indianapolis Retail Investment Opportunity

      31,124 SF retail building in Indianapolis for sale.
      6302 E 82Nd St, Indianapolis, IN 46250
      View Details
    • $980,000

      Retail Property in Keystone Crossing

      Retail property in a commercially active and accessible location.
      8208 Allisonville Rd, Indianapolis, IN 46250
      View Details
    • $980,000
      3,056 SF

      Allisonville Rd Storefront Retail

      Prime Indianapolis storefront, 3,056 sq ft.
      8208 Allisonville Rd, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      2.86 Acres

      Castle Creek Commons: Retail Opportunity

      Prime Indianapolis retail land, build-to-suit.
      6086 86Th St, Indianapolis, IN 46250
      View Details
    • $7,836,000
      26,290 SF

      PetSmart NNN Lease Investment

      Absolute NNN PetSmart with new 12-year lease in Castleton, IN.
      5151 E 82Nd St, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      7,878 SF

      Retail Building in Densely Populated Area

      7,878 SF retail building in Indianapolis with high visibility.
      6045 E 86Th St, Indianapolis, IN 46250
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,800 SF

      Retail Space in Castleton Shoppes

      Retail space for lease in Indianapolis's strongest regional area.
      6024-6066 E 82Nd St, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      165,454 SF

      Castleton Commons Retail Space

      Indianapolis Shopping Center, prime location.
      8310 Castleton Corner Dr, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      46,746 SF

      Retail Space Near Castleton Mall

      Retail space in Indianapolis near premier regional mall.
      8310-8410 Castleton Corner Dr, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      8,960 SF

      Retail Space Near Castleton Square

      Retail space available in Indianapolis near major shopping destination.
      8440-8540 Castleton Corner Dr, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      2,771 SF

      Indianapolis Regional Shopping Center Space

      Regional shopping center with interstate access and excellent visibility.
      6010 W 86Th St, Indianapolis, IN 46250
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space Near Castleton Mall

      Retail space in a high-traffic shopping center near I-465.
      8418-8430 Castleton Corner Dr, Indianapolis, IN 46250
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8255 Craig St
    Indianapolis, IN 46250-4692
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.