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

    8651 Washington St Indianapolis, IN 46219-6823

    • Residential income homes
    • 2,100 SF
    • 4.21 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    7.3%
    Residential income homes
    Location Intelligence
    Property ID
    US31-1132664
    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

    • Public Storage / Self-Storage Facility / Automobile Storage Facility

    Property Details for 8651 Washington St

    Year built
    1986
    Construction
    WOOD
    Lot size
    4.21 lot acres
    Property size
    2,100 SF
    Zone code
    ZO01
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    49-09-06-103-015.000-700
    APU
    490906103015000700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $370,000
      6.5%
      $340,000
      7%
      $315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $233,000
      Market price range: $71.5k - $233k

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.0145
    Latitude
    39.7723
    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
    $40,256
    $706,600
    $762,100
    $1,468,700
    -
    $706,600
    $762,100
    $1,468,700

    Comparable in this City

    • Value Estimation
      $240,000
      10,670 SF

      1525 Ritter Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 10,670 SF
      1525 Ritter Ave, Indianapolis, IN 46219-3026
      View Details
    • Value Estimation
      $215,000
      2,970 SF

      203 Audubon Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,970 SF
      203 Audubon Rd, Indianapolis, IN 46219-7214
      View Details
    • Value Estimation
      $215,000
      7,895 SF

      6044 Washington St

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,895 SF
      6044 Washington St, Indianapolis, IN 46219-6646
      View Details
    • Value Estimation
      $180,000
      1,200 SF

      8650 Washington St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,200 SF
      8650 Washington St, Indianapolis, IN 46219-6824
      View Details
    • Value Estimation by Request
      9,771 SF

      5128 Washington St

      Multifamily properties • 9,771 SF
      5128 Washington St, Indianapolis, IN 46219
      View Details
    • Value Estimation
      $190,000
      30 SF

      77 Fenton Ave

      MOBILE HOME PARK, TRAILER PARK • 30 SF
      77 Fenton Ave, Indianapolis, IN 46219-6846
      View Details

    Similar Nearby for Sale

    • $415,000
      0.25 Acres

      Irvington Multifamily Investment Opportunity

      Five-unit property in Irvington with remodeled units and upside potential.
      5334 E Washington St, Indianapolis, IN 46219
      View Details
    • $215,000
      Pending

      Spacious Duplex Near Downtown

      Well-maintained duplex with open layouts, close to downtown Indianapolis.
      330 S Emerson Ave, Indianapolis, IN 46219
      View Details
    • $649,000
      1.10 Acres

      Turnkey Indianapolis Duplex on 1.1 Acres

      Fully furnished, income-producing duplex with expansion potential on 1.1 acres.
      7918 E 10Th St, Indianapolis, IN 46219
      View Details
    • $224,900
      Pending

      Indianapolis Duplex with Tenant Leases

      All-brick duplex in Imperial Estates with leases through 2025/2026.
      6148 E 13Th St, Indianapolis, IN 46219
      View Details
    • $165,000
      Pending

      Updated Duplex in Indianapolis

      Well-maintained duplex with updated features, ideal for investors or owner-occupants.
      6226 E 21St St, Indianapolis, IN 46219
      View Details
    • $395,000

      Indianapolis Duplex with Possibilities

      Duplex in Indianapolis offering comfortable living and personalized potential.
      247-249 S Emerson Ave, Indianapolis, IN 46219
      View Details

    Similar Nearby for Lease

    • $899 /Mo
      900 SF

      Spacious Apartment with Modern Amenities

      Charming 900 sq ft Indianapolis apartment with updated flooring.
      6056 E 16Th St, Indianapolis, IN 46219
      View Details
    • $18 SF/Yr
      18,581 SF

      Irvington Office Space: Historic Charm

      Modern office, historic Irvington, ample parking.
      211 Ritter Ave, Indianapolis, IN 46219
      View Details
    • $17 SF/Yr

      Office or Medical Building Opportunity

      Custom build-to-suit office or medical building with interior allowance.
      1310 N Post Rd, Indianapolis, IN 46219
      View Details
    • Contact for pricing
      3,482 SF

      Retail Space on Washington Street

      Retail space with high visibility and access on Washington Street.
      8504-8524 E Washington St, Indianapolis, IN 46219
      View Details
    • $16 SF/Yr
      6,000 SF

      Office Space for Lease

      Office suites available in a convenient location.
      1398 Shadeland Ave, Indianapolis, IN 46219
      View Details
    • $4 SF/Yr
      128,000 SF

      Industrial Space Near I-465

      Available industrial space with city utilities and highway access.
      221 S Franklin Rd, Indianapolis, IN 46219
      View Details
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    8651 Washington St
    Indianapolis, IN 46219-6823
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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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