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    Property profile & analytics

    9802 Michigan Rd Carmel, IN 46032-7925

    • Turn key restaurants
    • 3,301 SF
    • 1.76 lot acres
    OFF-MARKET
    Value Estimation
    $590,000
    Location Intelligence
    Property ID
    US31-1297031
    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

    • Hunt Brothers Pizza / Pizza Restaurant
    • Porkopolis Catering / Caterer
    • House of Soul Prime / Creole Restaurant
    • Quesa Tacos / Mexican Restaurant

    Property Details for 9802 Michigan Rd

    Year built
    2015
    Construction
    WOOD
    Lot size
    1.76 lot acres
    Property size
    3,301 SF
    Property type
    Turn key restaurants
    APN
    29-13-07-000-044.001-018
    APU
    291307000044001018

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $585,000

    • CAP approach

      CAP return
      Estimation
      6%
      $630,000
      6.5%
      $715,000
      7%
      $640,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $760,000
      Geo Method
      $605,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $720,000
      Retail
      $590,000
      Mixed-Use
      $705,000
      Hospitality
      $635,000
      Educational
      $620,000
      Residential Income
      $765,000
      Energy
      $705,000
      Income-Based Land
      $815,000
      Food Service
      $665,000

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.2323
    Latitude
    39.9289
    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
    $21,392
    $498,900
    $562,200
    $1,061,100
    -
    $498,900
    $562,200
    $1,061,100

    Comparable in this City

    • Value Estimation by Request
      6,140 SF

      12901 Old Meridian St

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    • Value Estimation by Request
      5,820 SF

      1122 Keystone Way

      RESTAURANT • 5,820 SF
      1122 Keystone Way, Carmel, IN 46032-3231
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      14,740 SF

      Main St

      RESTAURANT • 14,740 SF
      Main St, Carmel, IN 46032
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    • Value Estimation by Request
      10,373 SF

      1390 Keystone Way

      RESTAURANT • 10,373 SF
      1390 Keystone Way, Carmel, IN 46032-3235
      View Details
    • Value Estimation by Request
      5,233 SF

      10325 Michigan Rd

      RESTAURANT • 5,233 SF
      10325 Michigan Rd, Carmel, IN 46032-7926
      View Details
    • Value Estimation
      $490,000
      11,704 SF

      508 Carmel Dr

      RESTAURANT • 11,704 SF
      508 Carmel Dr, Carmel, IN 46032-2814
      View Details

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      Prime Redevelopment Site in Carmel, IN
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    Similar Nearby for Lease

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      31,000 SF

      Monon Square Retail Spaces

      Midtown Carmel retail, restaurant opportunities.
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      8,640 SF

      Carmel Retail/Restaurant/Bank Space Available

      Prime location for bank, restaurant, or retail in Carmel.
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      Carmel Retail Center - Prime Location

      High-traffic retail space, 196,154 sqft.
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      10,488 SF

      Curley Building: Prime Retail/Industrial Site

      10,488 SF, 3.6 Acres, High Traffic
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      1,400 SF

      Carmel Retail Space Available

      Retail space in affluent Carmel, Indiana, near major highway.
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      View Details
    • Contact for pricing
      1,200 SF

      Carmel Retail Space For Lease

      Highly visible retail space available for lease in Carmel, Indiana.
      154 Medical Dr, Carmel, IN 46032
      View Details
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    9802 Michigan Rd
    Carmel, IN 46032-7925
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    Realmo Value Estimation

    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.

    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.

    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
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