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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Strip malls
8923 Meridian St Indianapolis, IN 46217-6065
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-0503509
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1993
Construction
TYPE NOT SPECIFIED
Total area
41,445 SF
Lot
3.75 ac (163,350 SF)
Zoning code
ZO01
APN
49-14-24-117-082.000-500
UPID
US31-0503509
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
-
Escapology Escape Rooms Greenwood Arcade & Gaming Center
-
Legends Barber Shop Barber Shop
-
Queen Nails Nail Salon
-
CoinFlip Bitcoin ATM Atm Bank
-
Prodigy Burger Bar Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.26M
Blend (final)
Blend
$920k
Owner & transaction history
St Meridian LLC · 3 yrs held
St Meridian LLC
since 2023
4 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$985,000
Current use
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±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
$22 / 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
$89,313
Tax year 2023
Assessed value
$3,196,600
Assessed 2023
Previous assessed
$3,196,600
+0.0% YoY
Effective rate
2.79%
On assessed value
Assessed land
$718,700
Assessed improvement
$2,477,900
Land market value
$718,700
Improvement market value
$2,477,900
Total market value
$3,196,600
Applied tax rate
500.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1993
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
41,445 SF
Lot
3.75 ac (163,350 SF)
Zoning code
ZO01
APN
49-14-24-117-082.000-500
UPID
US31-0503509
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$985,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1993
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
3.75 ac
Current owner
From public records · entity-resolved
St Meridian LLC
Entity
Mailing address
403 MADISON AVE N STE #230, BAINBRIDGE ISLAND, WA 98110-2822
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2023
—
St Meridian LLC
Alpha Meridian LLC
Limited Warranty Deed
$3,762,000 · Arvest Bank
Feb 2, 2018
—
Alpha Meridian LLC
—
Deed
related
$3,500,000 · First Fin'l Bk&tr
May 24, 2017
$3,860,000
Alpha Meridian LLC
Meridian Marketplace LLC
Grant Deed
$2,500,000 · Ontario Wealth Management Corp
—
—
Alpha Meridian LLC
—
Deed Of Trust
related
$3,500,000 · First Fin'l Bk&tr
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.
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