Brick Medical Office
For Sale
$239,999
125 S 7th St, Gas City, IN 46933
All-brick office building with reception and waiting area, updated roof and HVAC, and space for private offices.
Property Size1,816 SF
Lot Size0.64 Acres
Price / SF$132.16
Days on Market96
Property Features for 125 S 7th St
General Information
Standard status
Active
Size
1,816 SF
Lot size
0.64 Acres
Building Details
Construction
brick
Listing Agency:
Nicholson Realty 2.0
Listed By:
Nathan Nicholson
(765) 661-8516
Source:
Eveloteam
Added: Jul 21
Changed: Oct 2
Last Checked: Oct 7 at 4:42PM
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 Nicholson Realty 2.0
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This all-brick commercial building is well-suited for professional, medical, office, or service-based use, and was formerly operated as an optometry office. The layout includes a spacious reception and waiting area and is flexible enough to accommodate approximately 6–7 private offices. Updates include a newer roof and an HVAC system.
Located just a half block off Main Street in Gas City, the property offers client and staff parking and sits on a .64-acre lot. The listing notes visibility and accessibility.
Personal items will be removed prior to closing, and the waiting room furniture and various chairs are negotiable.
Located just a half block off Main Street in Gas City, the property offers client and staff parking and sits on a .64-acre lot. The listing notes visibility and accessibility.
Personal items will be removed prior to closing, and the waiting room furniture and various chairs are negotiable.
Key Highlights
- All‑brick commercial building formerly used as an optometry office
- 1,816 SF layout includes a spacious reception and waiting area
- Flexible floor plan accommodates approximately 6–7 private offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,989
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,780
$339.8K
Cap Rate 7%
$242,700
$242.7K
Cap Rate 9%
$188,767
$188.8K
Market Conditions
NOI Build-Up for 1,816 SF
Gross rent
$30.9K $17.04/SF
− Vacancy
−$2.6K −$1.45/SF
EGI
$28.3K $15.59/SF
− OpEx
−$11.3K −$6.24/SF
NOI
$17.0K $9.35/SF
Area
Grant County, IN
Vacancy
8.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,780
Cap Rate 7%
$242,700
Cap Rate 9%
$188,767
Alternative Uses
Best Use
Healthcare Medical
$242.7K
$212.4K – $283.2K
NOI $16,989 @ 7.0% cap · market cap 7.08%
Second Best
Office B
$235.8K
$206.4K – $275.2K
NOI $16,509 @ 7.0% cap · market cap 6.88%
Theoretical Best
Specialty Retail
$352.7K
$308.6K – $411.5K
NOI $24,687 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46933, IN
6,617
Population
2,939
Households
2.3
Avg Household Size
41
Median Age
19%
College-Educated
91%
High-School Grad
11.0 sq mi
ZIP Area
602
Density / Sq Mi
$59,398
Median Household Income
$34,267
Median Earnings
$858
Median Rent
$123,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Hometown Animal Hospital — 94 Schaefer Dr, Gas City, IN 46933
Frequently Asked Questions
What type of property is this?
Medical Office Space - All-brick office building with reception and waiting area, updated roof and HVAC, and space for private offices.
Where is this medical office space located?
The property is located at 125 S 7th St Gas City, IN.
What is the asking price?
The asking price for this property is $239,999.
What are key features of this property?
This property features: All‑brick commercial building formerly used as an optometry office; 1,816 SF layout includes a spacious reception and waiting area; Flexible floor plan accommodates approximately 6–7 private offices
