Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    905 Raceway Rd Indianapolis, IN 46234-9617
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    905 Raceway Rd Indianapolis, IN 46234-9617

    View on Map
    • Retail space
    • 10,000 SF
    • 0.61 lot acres
    Off-Market
    Property ID
    US31-0961754
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • U-Haul Neighborhood Dealer / Car Rental Facility
    • Millennium Linings Truck - SUV - Fleet Outfitters West / Auto Parts Store

    Property Details for 905 Raceway Rd

    Year built
    2003
    Construction
    METAL FRAME
    Lot size
    0.61 lot acres
    Property size
    10,000 SF
    Zone code
    ZO01
    Property type
    Retail space
    APN
    49-12-04-130-024.000-900
    APU
    491204130024000900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.3264
    Latitude
    39.7775
    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
    $11,235
    $116,900
    $218,500
    $335,400
    -
    $116,900
    $218,500
    $335,400

    Comparable in this City

    • Value Estimation by Request
      5,870 SF

      8758 Crawfordsville Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,870 SF
      8758 Crawfordsville Rd, Indianapolis, IN 46234-1511
      View Details
    • Value Estimation by Request
      9,748 SF

      10747 Us Hwy 136

      RETAIL STORES (PERSONAL SERVICES) • 9,748 SF
      10747 Us Hwy 136, Indianapolis, IN 46234-8703
      View Details
    • Value Estimation
      $1,295,000
      15,694 SF

      9110 Rockville Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,694 SF
      9110 Rockville Rd, Indianapolis, IN 46234-2556
      View Details
    • Value Estimation by Request
      1,219 SF

      2801 Country Clb Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,219 SF
      2801 Country Clb Rd, Indianapolis, IN 46234-1708
      View Details
    • Value Estimation by Request
      2,550 SF

      8804 Crawfordsville Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,550 SF
      8804 Crawfordsville Rd, Indianapolis, IN 46234-1559
      View Details
    • Value Estimation by Request
      3,068 SF

      9255 10th St

      RETAIL STORES (PERSONAL SERVICES) • 3,068 SF
      9255 10th St, Indianapolis, IN 46234-2008
      View Details

    Similar Nearby for Sale

    • $1,000,000
      33,324 SF

      Rockville Road Retail Storefront

      High-Visibility Retail Space, Ideal for Lease or Build-to-Suit
      9057 Rockville Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing
      14,490 SF

      Indianapolis Retail Investment Opportunity

      NNN leased retail property in dense Indianapolis retail corridor.
      9240 Rockville Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing

      Retail/Commercial Outlot on Rockville Road

      0.84± acre retail/commercial outlot available on Rockville Road.
      8353 Rockville Rd, Indianapolis, IN 46234
      View Details
    • $1,175,000

      Signalized Outlot on Rockville Road

      0.938 acre commercial land with approved C-4 uses.
      9055 Rockville Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing
      2 SF

      Land in AmeriPlex Business Park

      2.19 acre commercial land with highway access.
      6000 N Raceway Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing

      Rockville Road Land Opportunity

      Land available on Rockville Road in Indianapolis.
      8835 Rockville Rd, Indianapolis, IN 46234
      View Details

    Similar Nearby for Lease

    • $4,081,379

      Indianapolis Retail Investment Opportunity

      15,000 SF building with 100% occupancy in Indianapolis.
      120 Country Club Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing

      Cloverleaf Building Office Space

      Flexible office space with visibility and access.
      8355 Rockville Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing

      Commercial Land on Rockville Road

      Land available for lease or sale on Rockville Road.
      9057 Rockville Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing
      4,000 SF

      Industrial/Flex Space Available

      Multi-tenant industrial/flex property with easy highway access.
      1157-1233 Country Club Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing

      Multi-Tenant Industrial/Flex Property Available

      Multi-tenant industrial/flex property with easy access to major interstates.
      1001 Country Club Rd, Indianapolis, IN 46234
      View Details
    • Contact for pricing

      Industrial Buildings for Light Manufacturing

      Two industrial buildings under construction, suitable for light manufacturing.
      10095 Us Highway 136, Indianapolis, IN 46234
      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.
    905 Raceway Rd
    Indianapolis, IN 46234-9617
    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!