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Property profile & analytics
FOR LEASE
Office Spaces
9025 River Rd Indianapolis, IN 46240
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0775189
For Lease
1 / 2
Contact for pricing
9025 River Rd, Indianapolis, IN 46240
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2007
Construction
TYPE NOT SPECIFIED
Total area
235,807 SF
Lot
12.91 ac (562,554 SF)
APN
49-02-17-113-001.000-800
UPID
US31-0775189
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
-
Blue Pillar (Bike/Boat/Book/etc) Store Corporate Office
-
Webb Shackle Accounting Firm Tax Preparation
-
BFlow Business Management Consultant
-
American Structurepoint Engineering Consultant Architecture Firm
-
Strategic Wealth Designers Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.29M
Blend (final)
Blend
$17.49M
Owner & transaction history
Ic Keystone LLC · 4 yrs held
Ic Keystone LLC
since 2021
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$18.8M
+6.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$17,665,000
Current use
AUTO REPAIR, GARAGE
$18,780,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$17,625,000
Change: 0% · Conversion: Easy
INDUSTRIAL (GENERAL)
$14,725,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$17.49M
Range $15.74M – $19.24M · ±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
$74 / 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
$656,843
Tax year 2023
Assessed value
$25,879,300
Assessed 2023
Previous assessed
$25,879,300
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$6,186,900
Assessed improvement
$19,692,400
Land market value
$6,186,900
Improvement market value
$19,692,400
Total market value
$25,879,300
Applied tax rate
800.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2007
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
4
Total area
235,807 SF
Lot
12.91 ac (562,554 SF)
APN
49-02-17-113-001.000-800
UPID
US31-0775189
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
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$17.7M
AUTO REPAIR, GARAGE
Est. value
$18.8M
RETAIL STORES
Est. value
$17.6M
INDUSTRIAL (GENERAL)
Est. value
$14.7M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2007
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Buildings
2
Lot
12.91 ac
Current owner
From public records · entity-resolved
Ic Keystone LLC
Entity
Mailing address
500 N FRANKLIN TPKE STE #300, RAMSEY, NJ 07446-1160
Ownership since
2021
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
Sep 27, 2021
—
Ic Keystone LLC
Cre River Road LLC
Limited Warranty Deed
$27,300,000 · M360 Community Development FCU
Dec 28, 2015
$21,850,000
Cre River Road LLC
Duke Realty LP
Grant Deed
—
Jul 10, 2015
—
Rh Of Indiana LP
Bainbridge South Lake LLC
Warranty Deed
—
—
—
Cre River Road LLC
—
Deed Of Trust
related
$18,300,000 · Midcountry Bk
—
—
Cre River Road LLC
—
Deed Of Trust
related
$17,890,000 · Texas Cap Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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