Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    902 Broad Ripple Ave Indianapolis, IN 46220
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    902 Broad Ripple Ave Indianapolis, IN 46220

    View on Map
    • Retail space
    • 18,010 SF
    • 0.45 lot acres
    Off-Market
    Property ID
    US31-1303998
    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.
    Value Estimations
    $1,415,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aventure bcycle's / (Bike/Boat/Book/etc) Store

    Property Details for 902 Broad Ripple Ave

    Year built
    1920
    Construction
    WOOD
    Lot size
    0.45 lot acres
    Property size
    18,010 SF
    Zone code
    ZO01
    Property type
    Retail space
    APN
    49-03-36-101-018.000-801
    APU
    490336101018000801

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,292,000
      Market price range: $590k - $2.14M
      AI Estimate
      $974,000
      Market price range: $501k - $1.60M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,345,000
      Current use
      AUTO REPAIR, GARAGE
      $1,435,000
      Change: +7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,350,000
      Change: +0% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,125,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1426
    Latitude
    39.87
    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
    $35,966
    $326,500
    $987,900
    $1,314,400
    -
    $326,500
    $987,900
    $1,314,400

    Comparable in this City

    • Value Estimation by Request
      1,260 SF

      6327 Ferguson St

      RETAIL STORES (PERSONAL SERVICES) • 1,260 SF
      6327 Ferguson St, Indianapolis, IN 46220-1707
      View Details
    • Value Estimation
      $2,110,000
      16,968 SF

      6509 Keystone Ave

      RETAIL STORES (PERSONAL SERVICES) • 16,968 SF
      6509 Keystone Ave, Indianapolis, IN 46220-1501
      View Details
    • Value Estimation by Request
      3,345 SF

      2136 54th St

      RETAIL STORES (PERSONAL SERVICES) • 3,345 SF
      2136 54th St, Indianapolis, IN 46220-3434
      View Details
    • Value Estimation by Request
      1,773 SF

      902 64th St

      RETAIL STORES (PERSONAL SERVICES) • 1,773 SF
      902 64th St, Indianapolis, IN 46220-1102
      View Details
    • Value Estimation
      $865,000
      34,706 SF

      919 Westfield Blvd

      RETAIL STORES (PERSONAL SERVICES) • 34,706 SF
      919 Westfield Blvd, Indianapolis, IN 46220
      View Details
    • Value Estimation
      $1,095,000
      12,442 SF

      3003 Kessler Blvd E Dr

      RETAIL STORES (PERSONAL SERVICES) • 12,442 SF
      3003 Kessler Blvd E Dr, Indianapolis, IN 46220-2912
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,772 SF

      Retail Building Adjacent to CVS

      Retail building with shared access and pylon signage.
      5959 E 71St St, Indianapolis, IN 46220
      View Details
    • Contact for pricing
      4,505 SF

      Retail Space with High Exposure

      Retail property with high traffic and multiple access points.
      6935 Lake Plaza Dr, Indianapolis, IN 46220
      View Details
    • Contact for pricing
      5,907 SF

      Broad Ripple Office Portfolio

      Four commercial office buildings in Broad Ripple, Indianapolis.
      5236 Winthrop Ave, Indianapolis, IN 46220
      View Details
    • $250,000

      Indianapolis Office Condo For Sale

      Office condo with a great layout in a central location.
      6314 Rucker Rd, Indianapolis, IN 46220
      View Details
    • Contact for pricing
      4,000 SF

      Well-Appointed Office Space Available

      Office space with executive offices, conference rooms, and training room.
      6910 N Shadeland Ave, Indianapolis, IN 46220
      View Details
    • $675,000

      Medical Office Building Near Glendale

      3,573 SF medical office building across from Glendale Town Center.
      2710 E 62Nd St, Indianapolis, IN 46220
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,445 SF

      Retail Space Available For Lease

      Retail space available for lease in Indianapolis, Indiana.
      2121 E 62Nd St, Indianapolis, IN 46220
      View Details
    • Contact for pricing
      2,050 SF

      Heeringa Farms Outlots Available

      Outlots available in mixed-use development near downtown Indianapolis.
      5820 S Emerson Ave, Indianapolis, IN 46220
      View Details
    • Contact for pricing
      7,139 SF

      Retail Space in High-Traffic Center

      Retail spaces available in a Kroger-anchored shopping center.
      2431-2629 E 65Th St, Indianapolis, IN 46220
      View Details
    • Contact for pricing
      9,000 SF

      Retail Spaces in Neighborhood Center

      Retail spaces available in Indianapolis neighborhood shopping center.
      6216-6248 Allisonville Rd, Indianapolis, IN 46220
      View Details
    • Contact for pricing
      2,470 SF

      Retail Space in Redeveloped Center

      Retail space for lease in high-traffic Indianapolis redevelopment project.
      2020 E 62Nd St, Indianapolis, IN 46220
      View Details
    • Contact for pricing
      1,815 SF

      Retail/Office Space in Broad Ripple

      Retail/office space in Broad Ripple Village with Monon Trail frontage.
      6311 Westfield Blvd, Indianapolis, IN 46220
      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.
    902 Broad Ripple Ave
    Indianapolis, IN 46220
    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.
    Sign Up Successful!
    You now have access to more from Realmo!