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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8353 Rockville Rd Indianapolis, IN 46234

    • Office buildings
    • 0.84 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0472622
    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

    • Office buildings

    Property Details for 8353 Rockville Rd

    Lot size
    0.84 lot acres
    Zone code
    ZO01
    Property type
    Office buildings
    APN
    49-12-09-132-007.000-900
    APU
    491209132007000900

    Description

    This exceptional 0.84-acre commercial land parcel presents a remarkable investment opportunity in Indianapolis, Indiana. Situated at the southwest corner of Rockville Road (US 36) and Country Club Road, this C1-zoned lot offers unparalleled visibility and accessibility. Shared access with established Ruoff Mortgage offices ensures convenient ingress and egress. The property's strategic location boasts high traffic counts of 38,686 AADT at the nearest intersection, placing it within a thriving retail corridor. Its proximity to I-465, Avon, and Ronald Reagan Parkway further enhances its appeal. A pre-configured site plan suggests potential for a 3,200 square foot building with a drive-thru, ideal for a bank, freestanding retail establishment, retail center, or quick-service restaurant. The area is densely populated with major retailers including Target, Meijer, Menards, Kroger, and many more, creating a strong retail environment. Rezoning is a possibility, providing flexibility for a variety of development options. This is a rare opportunity to acquire a highly visible and strategically located commercial lot in a rapidly growing area. Don't miss this chance to capitalize on this prime location. The property is located at 8353 Rockville Road, Indianapolis, IN 46234, in Marion County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.3084
    Latitude
    39.7636
    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
    $5,919
    $176,700
    $0.00
    $176,700
    -
    $176,700
    $0.00
    $176,700

    Comparable in this City

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      0.07 Acres

      9020 Crawfordsville Rd

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      9020 Crawfordsville Rd, Indianapolis, IN 46234-1516
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      $930,000
      8,379 SF

      10267 Us Hwy 136

      OFFICE (GENERAL) • 8,379 SF
      10267 Us Hwy 136, Indianapolis, IN 46234-9089
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    • Value Estimation
      $740,000
      6,586 SF

      2135 Redland Rd

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      2135 Redland Rd, Indianapolis, IN 46234-2445
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      3,015 SF

      8345 Little Eagle Ct

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      4,899 SF

      3201 Tansel Rd

      OFFICE (GENERAL) • 4,899 SF
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    Similar Nearby for Sale

    • Contact for pricing
      0.84 Acres

      Rockville Road Commercial Land

      Prime .84-acre commercial lot
      8353 Rockville Rd, Indianapolis, IN 46234
      View Details
    • $1,175,000

      Signalized Outlot on Rockville Road

      0.938 acre commercial land with approved C-4 uses.
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    • $3,000,000

      Hendricks County Land Parcel

      20.78-acre land parcel suitable for various development projects.
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      Commercial Land on Rockville Road

      Land available for sale or lease on Rockville Road.
      9057 Rockville Rd, Indianapolis, IN 46234
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      2 SF

      Land in AmeriPlex Business Park

      2.19 acre commercial land with highway access.
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      Rockville Road Land Opportunity

      Land available on Rockville Road in Indianapolis.
      8835 Rockville Rd, Indianapolis, IN 46234
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    Similar Nearby for Lease

    • Contact for pricing
      33,800 SF

      Executive Suites, West Indy

      Prime office space, flexible layouts, I-465 access.
      8355 Rockville Rd, Indianapolis, IN 46234
      View Details
    • $9 SF/Yr
      89,640 SF

      Country Club Road Flex Space

      Indianapolis Industrial Flex Space: 3 Units Available
      1001 Country Club Rd, Indianapolis, IN 46234
      View Details
    • $17 SF/Yr

      Executive Office Space Available

      Flexible office space with easy access to I-465.
      8355 Rockville Rd, Indianapolis, IN 46234
      View Details
    • $9 SF/Yr
      4,000 SF

      Industrial/Flex Space Available

      Multi-tenant industrial/flex property with easy highway access.
      1157-1233 Country Club Rd, Indianapolis, IN 46234
      View Details
    • $4,081,379

      Indianapolis Retail Investment Opportunity

      15,000 SF building with 100% occupancy in Indianapolis.
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    • $11 SF/Yr
      15,000 SF

      Build-to-Suit Flex Space in Indy

      Modern flex space, ideal for manufacturing.
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      View Details
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    8353 Rockville Rd
    Indianapolis, IN 46234
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    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
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