Two-Story Medical Office
For Sale
Contact for pricing
1026 N Mitthoefer Road, Indianapolis, IN 46229
Renovated workspace can be leased as a whole or by individual floor.
Property Size9,733 SF
Price / SF$0.76
Days on Market64
Property Features for 1026 N Mitthoefer Road
General Information
Standard status
Active
Size
9,733 SF
Property subtype
Office
Site & Location
Neighborhood
East Warren
Additional Details
Condition
Move-in Ready
Property Use
Medical Office
Building Details
Year Built
1986
Buildings
1
Stories
2
Listing Agency:
Berkshire Hathaway Home
(317) 881-7900
Listed By:
Sarika Malhotra
(646) 427-7375
Source:
Locksteprealty
Added: Aug 28
Changed: Oct 28
Last Checked: Oct 28 at 3:54PM
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 Berkshire Hathaway Home
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Investment Insights
Based on property information with market context.
Built in 1986, this two-story medical office property has been renovated and is configured for medical and professional office use. The first floor contains 3,500 square feet, while the second floor contains 2,400 square feet. Rooms on both levels can accommodate office, treatment, examination, administrative, or conference functions.
The building is at 1026 N Mitthoefer Road in Indianapolis, Indiana. Leasing options include the full building or either floor individually.
The building is at 1026 N Mitthoefer Road in Indianapolis, Indiana. Leasing options include the full building or either floor individually.
Key Highlights
- Renovated, two‑story medical office property
- First floor: 3,500 square feet; second floor: 2,400 square feet
- Available as a whole building or by individual floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,505
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,570,100
$2.6M
Cap Rate 7%
$1,835,786
$1.8M
Cap Rate 9%
$1,427,833
$1.4M
Market Conditions
NOI Build-Up for 9,733 SF
Gross rent
$210.2K $21.60/SF
− Vacancy
−$38.9K −$4.00/SF
EGI
$171.3K $17.60/SF
− OpEx
−$42.8K −$4.40/SF
NOI
$128.5K $13.20/SF
Area
Indianapolis, IN
Vacancy
18.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,570,100
Cap Rate 7%
$1,835,786
Cap Rate 9%
$1,427,833
Alternative Uses
Best Use
Healthcare Medical
$1.84M
$1.61M – $2.15M
NOI $128,943 @ 7.0% cap · market cap 1,746.01%
Second Best
Office B
$1.84M
$1.61M – $2.14M
NOI $128,505 @ 7.0% cap · market cap 1,740.08%
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,588 @ 7.0% cap · market cap 2,296.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 46229, IN
29,252
Population
12,046
Households
2.4
Avg Household Size
35
Median Age
26%
College-Educated
92%
High-School Grad
11.3 sq mi
ZIP Area
2,589
Density / Sq Mi
$62,982
Median Household Income
$40,407
Median Earnings
$1,020
Median Rent
$170,100
Median Home Value
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Market
Vacancy Rate% for Office in Indianapolis, IN
Similar Off Market Nearby
- Crestview Animal Hospital: Pagan, Juan J. — 9525 e washington st, indianapolis, in 46229
Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated workspace can be leased as a whole or by individual floor.
Where is this medical office space located?
The property is located at 1026 N Mitthoefer Road Indianapolis, IN.
What are key features of this property?
This property features: Renovated, two‑story medical office property; First floor: 3,500 square feet; second floor: 2,400 square feet; Available as a whole building or by individual floor
