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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Strip malls
8939 38th St Indianapolis, IN 46226-6032
Entity Owned
7-yr Hold
Free & Clear
Property ID
US31-0893352
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1962
Construction
TYPE NOT SPECIFIED
Total area
101,132 SF
Lot
9.19 ac (400,403 SF)
APN
49-08-19-115-008.000-701
UPID
US31-0893352
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
-
Nearby Storage Units Storage Facility
-
Tienda Guatemalteca y Restaurante Angie Grocery & Convenience Store Food Market
-
NORTH EASTWOOD SHOPPING CENTER Business Service Center Corporate Office
-
Amazon Locker - Fergus Courier Service Postal Service
-
Pupuseria Centro America and mexican food Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.62M
Blend (final)
Blend
$1.18M
Owner & transaction history
Perez Investments Fund LLC · 7 yrs held
Perez Investments Fund LLC
since 2019
5 recorded transactions
Zoning & alternative use
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
$730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±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
$12 / 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
$26,098
Tax year 2023
Assessed value
$954,400
Assessed 2023
Previous assessed
$954,400
+0.0% YoY
Effective rate
2.73%
On assessed value
Assessed land
$528,500
Assessed improvement
$425,900
Land market value
$528,500
Improvement market value
$425,900
Total market value
$954,400
Applied tax rate
701.0000
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
1962
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
101,132 SF
Lot
9.19 ac (400,403 SF)
APN
49-08-19-115-008.000-701
UPID
US31-0893352
Jurisdiction
MARION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1962
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
9.19 ac
Current owner
From public records · entity-resolved
Perez Investments Fund LLC
Entity
Free & Clear · 7 yrs held
Mailing address
3919 LAFAYETTE RD STE #395, INDIANAPOLIS, IN 46254-2549
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2019
—
Perez Investments Fund LLC
Vemulapalli,sasikala
Warranty Deed
related
—
Dec 9, 2013
—
Durga LLC
Csfb 2004-c5 Retail 8955 LLC
Grant Deed
related
—
Aug 6, 2008
—
North Eastwood Plaza Shopping
North Eastwood Shopping Cent
Quit Claim Deed
$5,778,183 · Wells Fargo Bk N #2004-c5 (tr)
Jan 17, 2006
—
North Eastwood Shopping Center
North Eastwood LLC
Quit Claim Deed
—
Sep 13, 2004
—
North Eastwood LLC
—
Deed Of Trust
related
$6,100,000 · Key Bank & Trust
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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