Healthcare Facility Ready For
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10241 E County Road 100 N, Avon, IN
Vacant 21,923 SF healthcare facility suitable for redevelopment.
Property Size21,923 SF
Lot Size4.47 Acres
Price / SF$396.84
Days on Market266
Property Features for 10241 E County Road 100 N
General Information
Standard status
Active
Size
21,923 SF
Lot size
4.47 Acres
Property subtype
OFFICE
Listing Agency:
Corporate Commercial Group
(317) 502-3622
Listed By:
Keith Dedrick · License #RB14029789
(317) 502-3622
Source:
Moodyscre
Added: Nov 28, 2025
Changed: Aug 17
Last Checked: Aug 21 at 2:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Corporate Commercial Group
Investment Insights
Based on property information with market context.
This property, formerly a 20-bed hospice facility, is now vacant and presents an opportunity for redevelopment or adaptive reuse. With a size of 21,923 square feet, the property is designed to accommodate healthcare operations, featuring an infrastructure and layout suitable for conversion into a nursing home or assisted living facility. The building provides a foundation for a transition into a new senior care environment or other healthcare use.
Key Highlights
- Ideal for redevelopment or adaptive reuse as a nursing home or assisted living facility.
- Formerly a 20‑bed hospice facility, providing a healthcare‑ready foundation.
- Existing infrastructure and layout designed to accommodate healthcare operations.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$269,632
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,392,640
$5.4M
Cap Rate 7%
$3,851,886
$3.9M
Cap Rate 9%
$2,995,911
$3.0M
Market Conditions
NOI Build-Up for 21,923 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$473.5K $21.60/SF
− Vacancy
−$24.2K −$1.10/SF
EGI
$449.4K $20.50/SF
− OpEx
−$179.8K −$8.20/SF
NOI
$269.6K $12.30/SF
Area
Hendricks County, IN
Vacancy
5.10%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,392,640
Cap Rate 7%
$3,851,886
Cap Rate 9%
$2,995,911
Alternative Uses
Best Use
Healthcare Medical
$3.85M
$3.37M – $4.49M
NOI $269,632 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$2.84M
$2.49M – $3.32M
NOI $199,103 @ 7.0% cap · market cap 2.29%
Theoretical Best
Office A
$5.50M
$4.82M – $6.42M
NOI $385,227 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - Vacant 21,923 SF healthcare facility suitable for redevelopment.
Where is this senior housing / retirement home located?
The property is located at 10241 E County Road 100 N Avon, IN.
What is the asking price?
The asking price for this property is $8,700,000.
What are key features of this property?
This property features: Ideal for redevelopment or adaptive reuse as a nursing home or assisted living facility.; Formerly a 20‑bed hospice facility, providing a healthcare‑ready foundation.; Existing infrastructure and layout designed to accommodate healthcare operations.
