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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Parking lots & garages
8711 Riv Xing Blvd, Indianapolis, IN 46240-2177
Entity Owned
2-yr Hold
Free & Clear
Property ID
US31-0728966
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2019
Construction
TYPE NOT SPECIFIED
Total area
61,894 SF
Lot
2.96 ac (129,068 SF)
Zoning code
ZO01
APN
49-02-17-106-004.000-800
UPID
US31-0728966
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Duke Realty Corporation Corporate Office Business Park
-
First Merchants Indianapolis Regional Headquarters Bank Loan Service
-
Bike Parking Bicycle Rack
-
BRU Burger Bar - Keystone Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.80M
Owner & transaction history
8711 River Crossing INC · 2 yrs held
8711 River Crossing INC
since 2023
7 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.7M
+56.7%
Restaurant
$2.5M
+48.4%
Medical building
$2.5M
+44.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$1,705,000
Current use
RETAIL STORES
$2,675,000
Change: +57% · Conversion: Difficult
RESTAURANT
$2,530,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$2,455,000
Change: +44% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,805,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,370,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$29 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$371,712
Tax year 2023
Assessed value
$14,645,300
Assessed 2023
Previous assessed
$14,645,300
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$2,413,600
Assessed improvement
$12,231,700
Land market value
$2,413,600
Improvement market value
$12,231,700
Total market value
$14,645,300
Applied tax rate
800.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2019
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
61,894 SF
Lot
2.96 ac (129,068 SF)
Zoning code
ZO01
APN
49-02-17-106-004.000-800
UPID
US31-0728966
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.7M
RESTAURANT
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.5M
INDUSTRIAL (GENERAL)
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.4M
PARKING LOT Current
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
2.96 ac
Current owner
From public records · entity-resolved
8711 River Crossing INC
Entity
Free & Clear · 2 yrs held
Mailing address
200 E JACKSON ST, MUNCIE, IN 47305-2835
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2023
—
8711 River Crossing INC
Pk Duke Development LLC
Special Warranty Deed
—
Feb 10, 2020
—
Pk-duke Dev LLC
—
Deed
related
$18,400,000 · Miscellaneous Ins Co
Mar 15, 2019
—
Pk-duke Dev LLC
—
Grant Deed
related
$33,852,000 · Duke Realty LP
Jul 20, 2018
—
Pk-duke Dev LLC
Pk Dre LLC
Warranty Deed
—
—
—
Pk-duke Dev LLC
—
Deed Of Trust
related
$18,400,000 · Miscellaneous Ins Co
—
—
Pk-duke Dev LLC
—
Deed Of Trust
related
$3,657,500 · Duke Realty LP
—
—
Pk-duke Dev LLC
—
Deed Of Trust
related
$200,000 · Duke Realty LP
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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