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Property profile & analytics
FOR LEASE
Office Spaces
9700 Lake Shore Dr E Indianapolis, IN 46240
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0645984
For Lease
1 / 2
$2,850,000
9700 Lake Shore Dr E, Indianapolis, IN 46240
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1993
Construction
TYPE NOT SPECIFIED
Total area
10,200 SF
Lot
2.75 ac (119,790 SF)
APN
29-14-08-000-022.008-018
UPID
US31-0645984
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
$3.66M
CAP Approach
CAP
$1.91M
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$2.85M
Owner & transaction history
Cornerstone Commercial LLC · 3 yrs held
Cornerstone Commercial LLC
since 2022
Last sale
$3.0M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.4M
+479.9%
Restaurant
$2.1M
+178.2%
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
$3,800,000
ML approach
$3,660,000
CAP Approach
CAP Return
Estimation
6%
$2,065,000
6.5%
$1,905,000
7%
$1,770,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$4,430,000
Change: +480% · Conversion: Difficult
RESTAURANT
$2,125,000
Change: +178% · Conversion: Difficult
Blend value · Realmo final
$2.85M
Range $2.57M – $3.14M · ±10% · vs last sale $3.00M (Aug 11 2022)
Last sale anchor
$3.00M
Aug 11 2022
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
$279 / 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
$33,393
Tax year 2023
Assessed value
$1,656,400
Assessed 2023
Previous assessed
$1,656,400
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$550,000
Assessed improvement
$1,106,400
Land market value
$550,000
Improvement market value
$1,106,400
Total market value
$1,656,400
Applied tax rate
18.0000
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
1993
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
10,200 SF
Lot
2.75 ac (119,790 SF)
APN
29-14-08-000-022.008-018
UPID
US31-0645984
Jurisdiction
HAMILTON
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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.4M
RESTAURANT
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
1993
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
2.75 ac
Current owner
From public records · entity-resolved
Cornerstone Commercial LLC
Entity
Mailing address
441 6TH ST, COLUMBUS, IN 47201-6223
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Aug 11, 2022
$3,000,000
Cornerstone Commercial LLC
Kmw Investments LLC
Special Warranty Deed
$1,450,000 · Jackson County Bank
Jun 23, 2011
—
Kmw Investments LLC
Gerald W Curry
Deed
$1,531,860 · Community Bank
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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