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    Property profile & analytics

    8890 116th St Fishers, IN 46038-2856

    • Medical Office Space
    • 55,585 SF
    • 0.51 lot acres
    OFF-MARKET
    Value Estimations
    $5,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0338927
    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

    • Mid America Clinical Laboratories / Medical Laboratory
    • Community Physician Network Family Medicine Care - Fishers / Medical Clinic
    • Black Clay LLC / Law Firm / Child Welfare Organization
    • The Well Coffeehouse Fishers / Cafe & Coffee Shop
    • Progressive Eyecare / Physician

    Property Details for 8890 116th St

    Year built
    2015
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.51 lot acres
    Property size
    55,585 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    29-11-31-303-002.101-006
    APU
    291131303002101006

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,420,000
      Market price range: $2.42M - $5.74M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,430,000
      Current use
      RETAIL STORES
      $6,530,000
      Change: +47% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,560,000
      Change: +3% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,855,000
      Change: -13% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,715,000
      Change: -16% Conversion: Difficult
      WAREHOUSE, STORAGE
      $3,545,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fishers
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.0128
    Latitude
    39.9571
    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
    $172,428
    $612,000
    $7,221,700
    $7,833,700
    -
    $612,000
    $7,221,700
    $7,833,700

    Comparable in this City

    • Value Estimation by Request
      1,400 SF

      12574 Promise Crk Ln Ste, Unit 114

      MEDICAL BUILDING • 1,400 SF
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      View Details
    • Value Estimation
      $520,000
      6,920 SF

      11846 Allisonville Rd

      MEDICAL BUILDING • 6,920 SF
      11846 Allisonville Rd, Fishers, IN 46038-2312
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    • Value Estimation by Request
      1,960 SF

      12574 Promise Crk Ln

      MEDICAL BUILDING • 1,960 SF
      12574 Promise Crk Ln, Fishers, IN 46038-7712
      View Details
    • Value Estimation
      $1,310,000
      32,640 SF

      13050 Parkside Dr

      MEDICAL BUILDING • 32,640 SF
      13050 Parkside Dr, Fishers, IN 46038-8247
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    • Value Estimation
      $600,000
      6,256 SF

      10177 Allisonville Rd

      MEDICAL BUILDING • 6,256 SF
      10177 Allisonville Rd, Fishers, IN 46038-2073
      View Details
    • Value Estimation
      $530,000
      5,796 SF

      9933 Eller Rd

      MEDICAL BUILDING • 5,796 SF
      9933 Eller Rd, Fishers, IN 46038-2011
      View Details

    Similar Nearby for Sale

    • $1,190,000
      35,000 SF

      Fishers Office Building - High ROI Potential

      Prime Fishers location, 7,710 SF office suite, excellent investment.
      10412 Allisonville Rd Unit, Fishers, IN 46038
      View Details
    • $275,900
      0.36 Acres

      Residential Lots in Fishers, IN

      Residential lots in a tranquil custom neighborhood with mature trees.
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    • Contact for pricing
      1.51 Acres

      Fishers, IN Commercial Land Investment

      Prime Fishers land, two lots available. C3/I1 zoning.
      0 Parkside Dr, Fishers, IN 46038
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    • $150,000
      0.47 Acres

      Residential Lots in Fishers, IN

      Residential lots for sale in the heart of Fishers, Indiana.
      13260 Carthay Cir, Fishers, IN 46038
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    • $1,800,000
      11.52 Acres

      Fishers Land Development Opportunity

      11.5 acre site ideal for residential development in Fishers.
      11798 E 131St St, Fishers, IN 46038
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    • Contact for pricing
      7,375 SF

      Retail Space on Allisonville Road

      7,375 SF retail space with high visibility in Fishers.
      11578 Allisonville Rd, Fishers, IN 46038
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    Similar Nearby for Lease

    • $34 SF/Yr
      15,000 SF

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      Prime Fishers location, flexible suites.
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    • Contact for pricing
      61,331 SF

      Fishers Medical Office Space

      Prime Fishers location, 3,861 sq ft available.
      8890 116Th St, Fishers, IN 46038
      View Details
    • $27 SF/Yr
      6,928 SF

      Fishers Office Space for Lease

      Modern Office, Ample Parking, Prime Location
      9003 Technology Ln, Fishers, IN 46038
      View Details
    • Contact for pricing
      25,360 SF

      Fishers Medical Office Building

      Prime Medical Space Available in Fishers, IN
      10995 Allisonville Rd, Fishers, IN 46038
      View Details
    • $25 SF/Yr
      5,723 SF

      Premium Commercial Space in Fishers

      New commercial space for office, medical, or retail use.
      10978 Allisonville Rd, Fishers, IN 46038
      View Details
    • Contact for pricing
      2,300 SF

      Medical Office Space Available

      Medical office spaces for lease in Fishers, Indiana.
      10967 Allisonville Rd, Fishers, IN 46038
      View Details
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    Fishers, IN 46038-2856
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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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