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Property profile & analytics
FOR SALE
Office Spaces
9225 Priority Way Dr W Indianapolis, IN 46240
Entity Owned
15-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-1032812
For Sale
1 / 2
Contact for pricing
9225 Priority Way Dr W, Indianapolis, IN 46240
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2007
Construction
CONCRETE
Total area
74,704 SF
Lot
4.96 ac (215,883 SF)
Zoning code
ZO01
APN
49-02-17-114-018.000-800
UPID
US31-1032812
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.42M
Blend (final)
Blend
$5.44M
Owner & transaction history
Pace-keystone Associates LLC · 15 yrs held
Pace-keystone Associates LLC
since 2011
2 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$6.0M
+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)
$5,595,000
Current use
AUTO REPAIR, GARAGE
$5,950,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$5,585,000
Change: 0% · Conversion: Easy
INDUSTRIAL (GENERAL)
$4,665,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$5.44M
Range $4.90M – $5.98M · ±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
$73 / 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
$184,578
Tax year 2023
Assessed value
$7,272,300
Assessed 2023
Previous assessed
$7,272,300
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$2,137,300
Assessed improvement
$5,135,000
Land market value
$2,137,300
Improvement market value
$5,135,000
Total market value
$7,272,300
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 Sale
Year built
2007
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
3
Total area
74,704 SF
Lot
4.96 ac (215,883 SF)
Zoning code
ZO01
APN
49-02-17-114-018.000-800
UPID
US31-1032812
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, INZoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$6.0M
RETAIL STORES
Est. value
$5.6M
INDUSTRIAL (GENERAL)
Est. value
$4.7M
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
CONCRETE
Heating
YES
Cooling
Yes
Stories
3
Lot
4.96 ac
Current owner
From public records · entity-resolved
Pace-keystone Associates LLC
Entity
Free & Clear · 15 yrs held
Mailing address
9345 DELEGATES ROW, INDIANAPOLIS, IN 46240-3803
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2017
—
Precedent Co-investor LLC
—
Loan Modification
related
$87,459,192 · Jp Morgan Chase Bk
Jun 16, 2011
$6,800,000
Pace-keystone Associates LLC
Second Step Asset Mgmt Co
Grant Deed
—
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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