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

    89 91st St Indianapolis, IN 46260

    • Office buildings
    • 21,784 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    $610,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1080293
    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 89 91st St

    Year built
    1988
    Lot size
    0.92 lot acres
    Property size
    21,784 SF
    Zone code
    ZO01
    Property type
    Office buildings
    APN
    49-03-14-102-008.000-800
    APU
    490314102008000800

    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
    -86.1594
    Latitude
    39.9193
    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
    $10,485
    $400,700
    $12,400
    $413,100
    -
    $400,700
    $12,400
    $413,100

    Comparable in this City

    • Value Estimation by Request
      0.36 Acres

      8754 Meridian St

      OFFICE BUILDING • 0.36 Acres
      8754 Meridian St, Indianapolis, IN 46260-2331
      View Details
    • Value Estimation by Request
      0.03 Acres

      9310 Meridian St

      OFFICE BUILDING • 0.03 Acres
      9310 Meridian St, Indianapolis, IN 46260-1867
      View Details
    • Value Estimation by Request
      0.31 Acres

      43 88th St

      OFFICE BUILDING • 0.31 Acres
      43 88th St, Indianapolis, IN 46260
      View Details
    • Value Estimation by Request
      0.37 Acres

      8755 Illinois St

      OFFICE BUILDING • 0.37 Acres
      8755 Illinois St, Indianapolis, IN 46260
      View Details
    • Value Estimation by Request
      0.31 Acres

      51 88th St

      OFFICE BUILDING • 0.31 Acres
      51 88th St, Indianapolis, IN 46260
      View Details
    • Value Estimation by Request
      0.73 Acres

      9294 Meridian St

      OFFICE BUILDING (MULTI-STORY) • 0.73 Acres
      9294 Meridian St, Indianapolis, IN 46260-1804
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,681 SF

      Renovated Surgery Center Near Hospital

      Freestanding surgery center with recent renovations and expansion potential.
      8651 Township Line Rd, Indianapolis, IN 46260
      View Details
    • $6,950,000
      72,196 SF

      Grandview Drive Office Building

      Prime Indianapolis Office Space, 72,196 SF
      6601 Grandview Dr, Indianapolis, IN 46260
      View Details
    • Contact for pricing

      Land Available for Development

      52 to 143 acres available for build-to-suit opportunities.
      96Th St, Indianapolis, IN 46260
      View Details
    • Contact for pricing
      1,756 SF

      Move-In Ready Ranch Home

      Charming 2-bed, 2-bath ranch with modern upgrades and superb location.
      9534 Cadbury Cir, Indianapolis, IN 46260
      View Details
    • $399,000
      Pending

      Residential Lots in Meridian Hills

      Residential lots in a prestigious Indianapolis location near Meridian Hills.
      7117 N Meridian St, Indianapolis, IN 46260
      View Details
    • $349,000
      Pending

      Luxury Homesite in Meridian Hills

      Wooded residential lot in prime Indianapolis location near amenities.
      7111 N Meridian St, Indianapolis, IN 46260
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,377 SF

      Indianapolis Office Space For Rent

      1,377 SF endcap office space ready for build-out.
      9510 N Meridian St, Indianapolis, IN 46260
      View Details
    • Contact for pricing
      6,667 SF

      Carmel Gateway Office Space

      Office space with I-465 visibility and convenient access.
      600 E 96Th St, Indianapolis, IN 46260
      View Details
    • Contact for pricing
      3,001 SF

      Indianapolis Office Space For Rent

      Office space available for lease in Indianapolis, Indiana.
      9240 N Meridian St, Indianapolis, IN 46260
      View Details
    • Contact for pricing
      3,722 SF

      Meridian Corridor Medical Office Space

      Prime Medical Office: 3,722 SF Available
      9245 Meridian St, Indianapolis, IN 46260
      View Details
    • Contact for pricing

      North Meridian Street Office Suites

      Office suites for lease in a well-maintained, accessible location.
      8935 N Meridian St, Indianapolis, IN 46260
      View Details
    • Contact for pricing
      120,000 SF

      Prime Indianapolis Redevelopment Opportunity

      Redevelopment opportunity in high-demand North Meridian corridor.
      1300 E 96Th St, Indianapolis, IN 46260
      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.
    89 91st St
    Indianapolis, IN 46260
    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.