Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    12220 N Meridian St Carmel, IN 46032

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Single-story Class A building with ample parking and great visibility.

    Type:office
    Property size:
    977 SF
    Added:
    Apr 15, 2026
    Days on Market:
    15
    Last Refresh:
    Apr 14 at 8:22 pm

    Property Features for 12220 N Meridian St

    General Information

    Standard status
    Active
    Size
    977 SF
    Property subtype
    office

    Spaces For Lease

    at 12220 N Meridian St Contact us

    We can help!

    Listing Contact
    Connor Scott
    Connor Scott

    Listing agent Connor Scott License #RB17000751

    Listing office Indianapolis

    Listing date Apr 15, 2026

    Source Property.jll

    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 Indianapolis

    Overview

    Carmel Medical Office Space Available

    This single-story, Class A building is situated in a wooded setting, offering proximity to dining and retail amenities and convenient access to I-465, located just 3 minutes away. The property features ample parking and Meridian Street signage. It is suitable for medical use and offers visibility. The property is located close to the Ritz Charles event venue. The property size is 977 square feet.
    Location Intelligence

    Current Use by Public Records

    VERO WEALTH Financial Advisor Reynolds Construction, LLC Construction Company Liberty Dialysis LLC Medical Clinic No Hillary in 2016 Advocacy Group Jayden Attic Insulation General Contractor

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Carmel Pet Wellness Clinic — 13080 Grand Blvd Suite 120, Carmel, IN 46032

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1591998
    Latitude
    39.9692684

    Nearby Similar for Lease

    • $2,500/Mo

      Carmel Office Space For Rent

      Second-floor office space in Carmel's Arts & Design District.
      27 E Main Street, Carmel, IN 46032
      View Details
    • $3,000/Mo

      Carmel Retail or Office Space

      First floor retail or office space in Carmel's Arts District.
      27 E Main Street, Carmel, IN 46032
      View Details
    • $2,500/Mo

      Carmel Office Space For Rent

      Third-floor office space in Carmel's Arts & Design District.
      27 E Main Street, Carmel, IN 46032
      View Details
    • $2,600/Mo

      Carmel Warehouse Space Available

      2,600 SF warehouse space for lease in Carmel, Indiana.
      4250 W 99th Street, Carmel, IN 46032
      View Details
    • $2,683/Mo

      Updated Office Space in Carmel

      Office space near downtown Carmel with easy highway access.
      252 E Carmel Drive, Carmel, IN 46032
      View Details
    • $1,591/Mo

      Carmel Office Space For Rent

      770 SF office space in Carmel, available now.
      90 Executive Drive, Carmel, IN 46032
      View Details
    • $1,550/Mo

      Carmel Office Space For Lease

      1,100 SF office space available for lease in Carmel.
      950 North Rangeline Road, Carmel, IN 46032
      View Details
    • $23 SF/Yr

      Meridian Corridor Office Space

      Well-maintained office building with on-site management and training facility.
      11550 N. Meridian Street, Carmel, Indiana 46032
      View Details
    • Sponsored
      Contact for pricing

      IN, Carmel - Congressional Blvd

      303 Congressional Blvd, Carmel, IN 46032
      View Details
    • $650/Mo

      Carmel Office Suites For Rent

      Professional office suites in central Carmel location, near Monon Trail.
      1016 3rd Avenue SW, Carmel, IN 46032
      View Details
    • $15 SF/Yr

      Carmel Flex-Industrial Space Available

      Adaptable flex space suitable for various business uses.
      439 Gradle Drive, Carmel, IN 46032
      View Details
    • $650/Mo

      Carmel Office Space For Rent

      First-level office spaces in central Carmel, high visibility location.
      1717 E 116th Street, Carmel, IN 46032
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Single-story Class A building with ample parking and great visibility.
    Where is this medical office space located?
    The property is located at 12220 N Meridian St Carmel, IN.
    What are key features of this property?
    This property features: Close proximity to I‑465 for easy access.; Ample parking available.; Single‑story, Class A building.
    (317) 810-6399
    We can help!
    Listing Contact
    Connor Scott
    Connor Scott
    Real Estate License ID: RB17000751
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!