Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9550 Whitley Dr Indianapolis, IN 46240-1307

    • Office Properties & Spaces
    • 5,280 SF
    • 0.65 lot acres
    OFF-MARKET
    Last Sale
    Dec 03, 2020
    $615,000
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0551220
    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.

    Current Use by Public Records

    • Ms. Pamela Wampler / Marriage Or Relationship Counselor
    • Burrell Appraisal Service Inc / Real Estate Agency
    • Haley's Lash Studio / Hair Salon
    • Destiny Chiropractic / Alternative Medicine Practice
    • Ed Ferguson & Associates / Insurance Agency

    Property Details for 9550 Whitley Dr

    Year built
    1994
    Construction
    WOOD
    Lot size
    0.65 lot acres
    Property size
    5,280 SF
    Zone code
    ZO01
    Property type
    Office Properties & Spaces
    APN
    49-02-18-103-022.000-800
    APU
    490218103022000800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $480,000
      ML approach
      $475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $462,000
      Market price range: $157k - $631k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $395,000
      Current use
      AUTO REPAIR, GARAGE
      $420,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $395,000
      Change: -0% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $330,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1157
    Latitude
    39.926
    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
    $15,741
    $247,700
    $372,500
    $620,200
    -
    $247,700
    $372,500
    $620,200

    Comparable in this City

    • Value Estimation
      $2,700,000
      90,576 SF

      3939 Priority Way S Drsdr

      OFFICE (GENERAL) • 90,576 SF
      3939 Priority Way S Drsdr, Indianapolis, IN 46240-3834
      View Details
    • Value Estimation
      $890,000
      40,642 SF

      8395 Keystone Xingcx

      OFFICE (GENERAL) • 40,642 SF
      8395 Keystone Xingcx, Indianapolis, IN 46240-4307
      View Details
    • Value Estimation
      $9,045,000
      115,768 SF

      8500 Keystone Xingcx

      OFFICE (GENERAL) • 115,768 SF
      8500 Keystone Xingcx, Indianapolis, IN 46240-7336
      View Details
    • Value Estimation
      $10,255,000
      117,212 SF

      8888 Keystone Xingcx

      OFFICE (GENERAL) • 117,212 SF
      8888 Keystone Xingcx, Indianapolis, IN 46240-4609
      View Details
    • Value Estimation
      $4,525,000
      60,824 SF

      9339 Priority Way W Dr

      OFFICE (GENERAL) • 60,824 SF
      9339 Priority Way W Dr, Indianapolis, IN 46240-6428
      View Details
    • Value Estimation by Request
      3,316 SF

      8900 Keystone Xingcx

      OFFICE (GENERAL) • 3,316 SF
      8900 Keystone Xingcx, Indianapolis, IN 46240-7670
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,000 SF

      Two-Story Office Building with Atrium

      Two-story office building with strong tenant base and water views.
      8200 Haverstick Rd, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      29,232 SF

      Keystone Crossing Affordable Office Space

      Full-service office space in a prime, convenient Indianapolis location.
      Indianapolis, IN 46240
      View Details
    • Contact for pricing
      0.65 Acres

      Westfield Blvd Retail Outlot

      Prime Indy location, 0.65 acres, C-4 zoning
      8520 Westfield Blvd, Indianapolis, IN 46240
      View Details
    • $615,000

      Prime Nora Commercial Land

      Indianapolis development opportunity.
      1005 86Th St, Indianapolis, IN 46240
      View Details
    • Contact for pricing
      2,023 SF

      Updated Home in Wooded Community

      Lovingly updated 3BR, 2.5BA home with pool and tennis courts.
      8360 Seabridge Way, Indianapolis, IN 46240
      View Details
    • $1,650,000
      3.00 Acres

      96th and Haverstick Rd

      Land • 3.00 Acres
      2850 96Th St, Indianapolis, IN 46240
      View Details

    Similar Nearby for Lease

    • $339 /Mo
      176,281 SF

      Keystone Crossing Office Space

      Indianapolis office building, 9 suites available.
      9100 Keystone Xing, Indianapolis, IN 46240
      View Details
    • $22 SF/Yr
      119,983 SF

      Keystone Crossing Office Space

      Indianapolis A-Class Office Suites Available
      8440 Woodfield Crossing Blvd, Indianapolis, IN 46240
      View Details
    • $339 /Mo
      137,615 SF

      Keystone Crossing Office Space

      Indianapolis Office Building, 10 Suites Available
      9000 Keystone Xing, Indianapolis, IN 46240
      View Details
    • $315 /Mo
      154,168 SF

      Keystone at the Crossing Offices

      Indianapolis Office Space: 5 Suites Available
      9200 Keystone Xing, Indianapolis, IN 46240
      View Details
    • $19 SF/Yr
      80,000 SF

      Indianapolis Executive Office Suites

      Prestigious Office Space, Ample Parking
      8200-8250 Haverstick Rd, Indianapolis, IN 46240
      View Details
    • $402 /Mo
      335,179 SF

      Keystone Crossing Office Space

      Indianapolis Class A Office Suites Available
      8888 Keystone Xing, Indianapolis, IN 46240
      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.
    9550 Whitley Dr
    Indianapolis, IN 46240-1307
    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.