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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Promise Rd Fishers, IN 46038

    • Office Properties & Spaces
    • 187,960 SF
    • 40.20 lot acres
    OFF-MARKET
    Value Estimations
    $47,525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0829593
    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

    • Office Properties & Spaces

    Property Details for Promise Rd

    Year built
    2004
    Construction
    TYPE NOT SPECIFIED
    Lot size
    40.20 lot acres
    Property size
    187,960 SF
    Property type
    Office Properties & Spaces
    APN
    29-11-28-000-040.000-020
    APU
    291128000040000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $61,793,000
      Market price range: $41.8M - $96.0M
      AI Estimate
      $33,255,000
      Market price range: $11.4M - $52.5M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $61,795,000
      Current use
      RETAIL STORES
      $62,405,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $54,330,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fishers
    County
    Hamilton
    State
    Indiana
    Longitude
    -85.9652
    Latitude
    39.9766
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      35,000 SF

      10412 Allisonville Rd Unit

      Office Properties & Spaces • 35,000 SF
      10412 Allisonville Rd Unit, Fishers, IN 46038
      View Details
    • Value Estimation by Request
      40.34 Acres

      11550 131st St

      OFFICE (GENERAL) • 40.34 Acres
      11550 131st St, Fishers, IN 46038-6618
      View Details
    • Value Estimation
      $2,660,000
      12,697 SF

      11902 Lakeside Dr

      OFFICE (GENERAL) • 12,697 SF
      11902 Lakeside Dr, Fishers, IN 46038-1308
      View Details
    • Value Estimation
      $6,960,000
      27,409 SF

      12756 Promise Rd

      OFFICE (GENERAL) • 27,409 SF
      12756 Promise Rd, Fishers, IN 46038-9606
      View Details
    • Value Estimation
      $2,990,000
      11,674 SF

      7348 Riv Gln Dr

      OFFICE (GENERAL) • 11,674 SF
      7348 Riv Gln Dr, Fishers, IN 46038-2744
      View Details
    • Value Estimation
      $2,260,000
      8,930 SF

      12933 Frd Dr

      OFFICE (GENERAL) • 8,930 SF
      12933 Frd Dr, Fishers, IN 46038-2899
      View Details

    Similar Nearby for Sale

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      35,000 SF

      Fishers Office Building - High ROI Potential

      Prime Fishers location, 7,710 SF office suite, excellent investment.
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    • $3,330,000
      19,025 SF

      Two-Story Office Building For Sale

      Well-maintained, two-story office building with ample parking and recent upgrades.
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    • $199,900
      0.45 Acres

      Residential Lots in Fishers, IN

      Residential lots in the heart of Fishers, Indiana.
      12650 Granite Ridge Cir, Fishers, IN 46038
      View Details
    • Contact for pricing
      1.51 Acres

      Fishers, IN Commercial Land Investment

      Prime Fishers land, two lots available. C3/I1 zoning.
      0 Parkside Dr, Fishers, IN 46038
      View Details
    • $235,000
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      Two-Bedroom Condo in Fishers

      Two-story condo with loft, garage, and convenient location.
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      Residential Lots in Fishers, IN

      Residential lots in a tranquil custom neighborhood with mature trees.
      12687 Granite Ridge Cir, Fishers, IN 46038
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    Similar Nearby for Lease

    • $33 SF/Yr
      11,945 SF

      Fishers Office Space: 11,945 SF

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      Prime Fishers location, flexible suites.
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    • Contact for pricing
      61,331 SF

      Fishers Medical Office Space

      Prime Fishers location, 3,861 sq ft available.
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    • $16 SF/Yr
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      Historic Eller House Office Space

      Unique office space in a preserved historic building.
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    • $25 SF/Yr
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      Premium Commercial Space in Fishers

      New commercial space for office, medical, or retail use.
      10978 Allisonville Rd, Fishers, IN 46038
      View Details
    • $20 SF/Yr
      1,832 SF

      Single-Story Office Space Available

      Single-story office space with efficient layout in Fishers, Indiana.
      9084 Technology Dr, Fishers, IN 46038
      View Details
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    Promise Rd
    Fishers, IN 46038
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    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
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