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Property profile & analytics
FOR LEASE
Office Spaces
9130 Otis Ave Indianapolis, IN 46216
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0577775
For Lease
1 / 46
$18 SF/Yr
9130 Otis Ave, Indianapolis, IN 46216
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Property summary
AI-generated overview
This 16,840-square-foot multi-tenant property at 9130 Otis Ave, Indianapolis, IN 46216, offers flexible office and industrial space in the Lawrence submarket. The building, constructed in 1908 and situated on 1.14 acres, features a two-story design with five total suites. Currently, approximately 10,282 square feet are vacant and divisible into units as small as 336 square feet, with a maximum contiguous space of 4,102 square feet. The property is conveniently located near I-465, I-69, I-74, I-70, and I-65, providing easy access to major transportation routes. Amenities include ample common parking. The building is zoned D-P and classified as Class C. No elevators, loading docks, or drive-in doors are present. The property boasts a rich history, previously serving as a horse stable and army barracks, and now offers professionally managed space suitable for diverse business needs. The surrounding area provides various dining options and proximity to Fort Harrison State Park. Rental rates range from $18 to $19.50 per square foot per year (Gross Lease).
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1908
Construction
WOOD
Total area
16,840 SF
Lot
1.14 ac (49,790 SF)
APN
49-08-05-105-007.000-407
UPID
US31-0577775
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
-
Embroidery! Sew Into It! and Sew Much More... Marketing & Advertising
-
Cole Fitness Gym & Fitness Center
-
Level365 Telecommunications Service
-
Megan Skelding Physician
-
PhaseForward Crisis Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$360k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$438k
Blend (final)
Blend
$510k
Owner & transaction history
Indianapolis Public Transporta · 6 yrs held
Indianapolis Public Transporta
since 2019
7 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
$360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$30 / 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
$25,551
Tax year 2023
Assessed value
$992,100
Assessed 2023
Previous assessed
$992,100
+0.0% YoY
Effective rate
2.58%
On assessed value
Assessed land
$328,600
Assessed improvement
$663,500
Land market value
$328,600
Improvement market value
$663,500
Total market value
$992,100
Applied tax rate
407.0000
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
1908
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
16,840 SF
Lot
1.14 ac (49,790 SF)
APN
49-08-05-105-007.000-407
UPID
US31-0577775
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
1908
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Indianapolis Public Transporta
Individual
Mailing address
11519 IDLEWOOD DR, FISHERS, IN 46037-4193
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2021
—
Unlocking Profits LLC
—
Deed
related
$650,000 · Peoples State Bank
Dec 3, 2019
$1,500
Indianapolis Public Transporta
Unlocking Profits LLC
Warranty Deed
related
—
May 1, 2018
$799,309
Unlocking Profits LLC
Cerok INC
Grant Deed
related
—
Aug 12, 2008
—
Cerok INC
—
Trustees Deed
related
$175,000 · Indiana University Cu
—
—
Cerok INC
—
Deed Of Trust
related
$650,000 · Indiana University Cu
—
—
Cerok INC
—
Deed Of Trust
related
$51,000 · Indiana University Cu
—
—
Cerok LLC
—
Deed Of Trust
related
$627,433 · Indiana University Cu
—
—
Cerok INC
—
Deed Of Trust
related
$250,000 · Indiana University Cu
—
—
Cerok INC
—
Deed Of Trust
related
$117,000 · Indiana University Cu
—
—
Cerok INC
—
Deed Of Trust
related
$300,000 · Indiana University Cu
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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