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    Medical/Dental Office Building For Sale Title is generated by Realmo AI

    3434 W State Road 66 Road, Rockport, IN 47635

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    Claim this Listing
    Pending
    $1,600,000

    Health Center, Medical/Dental - Rockport, IN

    Property size:
    13,330 SF
    Lot size:
    1.54 Acres
    Added:
    Feb 9, 2026
    Days on Market:
    107
    Last Refresh:
    May 27 at 6:06 pm

    Property Features for 3434 W State Road 66 Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    7
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Kitchen, Office
    Parking
    96
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, Office Space, Reception Area
    Exterior features
    Office Space, Reception Area
    Standard status
    Pending
    APN
    74-15-18-403-024.000-017
    Size
    13,330 SF
    Lot size
    1.54 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2025

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1975
    Floors in Building
    1
    Flooring type
    Carpet, Laminate, Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Wendy Miller

    Listing agent Wendy Miller License #RB14042371

    Listing office Curran Miller Auction & Realty 1005 E Walnut Street, Evansville, IN

    Listing date Feb 9, 2026

    MLS# 202603987 Listing URL

    Copyright © 2026 Southwest Indiana Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location with excellent exposure on SR 66
    • Turnkey medical/dental office building with immediate income potential from existing tenants
    • Ample parking with 96 spaces
    • Well‑maintained with a new roof installed in 2024
    • Flexible space with 13,330 SF across two levels (main level and walk‑out basement)
    • Fully equipped medical and dental suites with multiple exam rooms, offices, and support spaces

    Overview

    This well-maintained medical and dental office building offers 13,330 square feet of space on 1.537 acres across two lots. The property is ideally positioned with excellent exposure along State Road 66. The building includes 10,570 square feet on the main level and a 2,760 square foot walk-out basement, providing flexible space for owner-occupants or investors. Currently, two tenants occupy the building, creating immediate income potential. The medical suite includes 8 exam rooms, 4 private offices, 3 restrooms, a lab and X-ray room, a break room with kitchen, a reception and waiting area, and multiple storage rooms. The dental suite is efficiently designed with 6 exam rooms, a reception area, a sterilization room, and a private office. A large paved parking lot with 96 spaces supports staff and patient needs. A new roof was installed in 2024, reflecting the property’s strong upkeep. With its turnkey condition, ample parking, and prime visibility, this property is an excellent fit for a doctor or dentist seeking a professional office location or an investor pursuing a quality, income-producing asset.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Accounting Firm Storage Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rockport
    County
    Spencer
    State
    Indiana
    Longitude
    -87.117309
    Latitude
    37.901922

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    FAQs

    What type of property is this?
    Medical Office Space - Well-maintained medical and dental office building with income potential.
    Where is this medical office space located?
    The property is located at 3434 W State Road 66 Road Rockport, IN.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Prime location with excellent exposure on SR 66; Turnkey medical/dental office building with immediate income potential from existing tenants; Ample parking with 96 spaces
    (812) 457-2446
    We can help!
    Listing Contact
    Wendy Miller
    Real Estate License ID: RB14042371
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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.

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