Commercial Real Estate Market Overview
Hamilton County's commercial + industrial property portfolio, sourced monthly from the Hamilton County GeoHub (assessor parcel data, updated April 2026) and enriched with federal data for tax, lending, workforce, and regional context.
Top Cities by Assessed Value
Top Property Types by Assessed Value
Brokerage Market Snapshot
Indianapolis MSA (CBSA 26900). Sourced quarterly from free public brokerage PDFs (Colliers, Cushman & Wakefield, JLL). Hamilton County submarket notes below.
About This Data
Parcels are pulled monthly from the Hamilton County GeoHub ArcGIS REST API
(PROPCLASS LIKE '4%'). Tax year 2026 assessed values.
Data refresh cadence: monthly via geohub_parcels.py. Next scheduled refresh:
first of each month. TIF district boundaries and tax district codes are provided by
the Hamilton County Assessor; the Alex platform cross-references these against DLGF
certified rates and city corporate boundaries. For individual parcel verification,
click through to the county's authoritative property report.
Parcel Map
Every commercial parcel in Hamilton County, mapped. Toggle TIF boundaries to see tax-increment districts, and Opportunity Zones to see qualified investment tracts. Pin color represents property class. Click any pin for parcel detail.
Layers
Parcel Filter
Property Class Colors
Parcel centroids: 5,956 commercial parcels (PROPCLASS 4xx) derived from GeoHub polygon centroids.
TIF boundaries: 266 districts from HamCoTIFDistricts/MapServer.
Opportunity Zones: 47 tracts for the Indianapolis-Carmel-Greenwood MSA.
Map tiles: © OpenStreetMap contributors.
Submarket Analysis
City-by-city breakdown of the CRE portfolio. Each submarket shows parcel counts, total assessed value, property type mix, and the share of properties in TIF districts or owned by absentee entities.
Property Search
Filter Hamilton County's commercial and industrial parcels. Full parcel detail (owner information, tax district, full AV breakdown) requires a full-tier access code.
Filter Parcels
Tax District & TIF Analysis
Hamilton County's property tax districts and TIF (Tax Increment Financing) districts — capturing incremental assessed value growth for infrastructure and economic development projects.
TIF Districts — Commercial & Industrial Parcels
Districts where incremental assessed value growth is captured for redevelopment projects. Ranked by total assessed value.
| TIF District | Code | Parcels | Total AV | Acres |
|---|---|---|---|---|
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Tax Districts — All CRE
Aggregated by tax district (as assigned by the Hamilton County Assessor). TIF % shows the share of this district's AV that sits inside a TIF boundary.
| Tax District | Parcels | Total AV | TIF Parcels | TIF % |
|---|---|---|---|---|
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Absentee Ownership Analysis
Of Hamilton County's commercial parcels, — are owned by entities whose mailing address is outside Hamilton County. Concentrations of absentee capital are indicators of investment flow, cap-rate compression, and retention risk.
Absentee Ownership by State
Top Absentee Owner Cities
| Owner City, State | Parcels | Total AV |
|---|---|---|
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Top Absentee Owners (Entities)
Largest absentee owners by total assessed value. Owner names are as-registered with the Hamilton County Assessor — may include parent entities, LLCs, and property-holding companies.
| Owner Name | Parcels | Total AV |
|---|---|---|
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Small Business Lending & Capital
CRA (Community Reinvestment Act) small business lending data by census tract. Hamilton County banks reported — across — census tracts in 2024. This is a leading indicator of commercial credit availability by submarket.
CRA Small Business Loans — by Census Tract
Top 20 Hamilton County census tracts by 2024 CRA small business loan volume. Source: FFIEC CRA Aggregate Disclosures.
| Tract | Loans | Total Amount | Avg Loan Size |
|---|---|---|---|
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HMDA Mortgage Originations — by Census Tract (2023)
Choropleth of Hamilton County census tracts colored by total origination volume. Source: FFIEC HMDA Public LAR. Includes residential and multifamily mortgage originations — a proxy for capital flow into each tract.
Origination Volume
HMDA = Home Mortgage Disclosure Act. Covers most residential mortgage activity and some commercial/multifamily loans reported by covered lenders. Multifamily-specific origination volume: —. Click any tract for detail.
Methodology & Next Data Sources
What's included in this release (v1)
- Parcel-level commercial & industrial inventory (6,433 parcels, $12.90B AV)
- TIF district aggregations across 4 major TIF zones
- Absentee ownership by state, owner city, and entity
- CRA small business lending by census tract (2024, 57 tracts)
What's coming in v1.5 and v2
- v1.5: Leaflet map with parcel centroids + TIF boundary overlays + QOZ overlays
- v2: Brokerage report ingestion (CBRE, JLL, Cushman & Wakefield) — quarterly vacancy, asking rent, absorption, cap rates
- v2: HMDA mortgage choropleth + FDIC deposits by institution
- v2: Site Selection Score (weighted composite: infrastructure, workforce, cost, growth, capital, livability)
IEDC Project Lead Pipeline Intelligence
Every IEDC "Project [Codename]" site/building search notice received over the
last 24 months, parsed and aggregated. Source:
Indiana Economic Development Corporation's public subscription list (Sarah Salisbury,
Roy Martin, other @iedc.in.gov senders). Codenames only — no identifying detail.
Strategic Insight
— unicorn-class leads ($1B+ capex or 500+ jobs) crossed Indiana's transom in the last 24 months. Project Goose (aerospace HQ, Feb 2026) was the only one to explicitly name Hamilton County. The pipeline is huge; the participation rate is a strategic choice.
Source: IEDC project lead notices, analysis by Invest Hamilton County.
Filters
Industry Distribution
Top 15 industries by lead count. Industry inferred from email body keywords (NAICS-mapped); no codename-based guessing.
Capital Investment + Jobs Distribution
Capex bands
Jobs bands
Quarterly Trend
Leads received per quarter, 2024-Q2 → 2026-Q2. Toggle to see industry-mix stacked area.
Site Requirements
What kind of site does the typical IEDC lead want?
Existing building vs. greenfield
Infrastructure access requirements
Geographic Patterns
Most IEDC leads search "anywhere in Indiana" — but the few that name specific counties are signal-rich.
Counties explicitly named in lead notices
| County | Mentions |
|---|---|
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Top 10 Unicorn Leads ($1B+ Capex OR 500+ Jobs)
Codenames only (already anonymized by IEDC). Sorted by capital investment.
| Codename | Received | Industry | Capex | Jobs | Site Type | Scope |
|---|---|---|---|---|---|---|
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About This Data
Methodology + provenance
- Source: All senders ending in
@iedc.in.govor@indianabusiness.org; subjects matching "Project <codename>" prefix or site-search / RFI language. - License: Public source — IEDC sends to public subscription list. No permission gate for aggregation or city-tier rollout.
- Industry inference: deterministic keyword map only — no codename-based guessing, no LLM inference.
- Response detection: Graph
conversationIdmatched against Sent Items wheresentDateTime > receivedDateTimeof inbound lead. - Body parsing: HTML stripped → plain text → regex. PDF attachments not parsed in v1 (~25–30% of leads carry structured fields only in PDF).
- Dedupe key: (codename, project_id, received_date).
Why the response rate is 0%
Mike's standing rule is "we never respond to these." Across the 198-lead window, IHC submitted on zero. This is not a parsing failure — it is the operational policy. The dashboard surfaces this fact so cities can see the size of the pipeline they are NOT bidding into and make a deliberate strategic choice.
Refreshed weekly via Microsoft Graph API. Data current as of —.
Where Insight Becomes Action