Medical Office Building with Available
New
For Sale
$4,300,000
1300 West Jefferson Street, Franklin, IN 46131
Configured for established healthcare users with occupied space and additional suites available for expansion or new tenancy.
Property Size28,761 SF
Days on Market2
Property Features for 1300 West Jefferson Street
General Information
Standard status
Active
Size
28,761 SF
Class
B
Property subtype
Office - General Office
Additional Details
Highway Access
Yes
Building Details
Building Size
28,761 SF
Listing Agency:
Coombes Real Estate
Listed By:
Robert Coombes · License #RB17000978
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 1 at 8:59PM
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 Coombes Real Estate
Investment Insights
Based on property information with market context.
This medical office property at 1300 West Jefferson Street is arranged for healthcare operations, with existing medical occupancy and suites available for additional users. Its layout and finish level are suited to established clinical practices, offering a specialized alternative to general office space. The property combines in-place healthcare income with unused suite capacity within the same building.
The site is positioned just off the Highway 44/144 interchange and receives visibility from traffic exceeding 11,000 vehicles per day. Johnson Memorial Health is within walking distance and includes a 149-bed hospital with more than 1,000 staff. Franklin Meadows Nursing Home and Otterbein Franklin SeniorLife add more than 300 senior care beds nearby, alongside private practices and dialysis providers. Interstate 65 is less than 10 minutes away, with Indianapolis approximately 25 miles north.
The site is positioned just off the Highway 44/144 interchange and receives visibility from traffic exceeding 11,000 vehicles per day. Johnson Memorial Health is within walking distance and includes a 149-bed hospital with more than 1,000 staff. Franklin Meadows Nursing Home and Otterbein Franklin SeniorLife add more than 300 senior care beds nearby, alongside private practices and dialysis providers. Interstate 65 is less than 10 minutes away, with Indianapolis approximately 25 miles north.
Key Highlights
- Medical office property with in‑place healthcare income and available suites
- Healthcare‑oriented layout and finishes support established clinical users
- Visibility to more than 11,000 vehicles per day near the Highway 44/144 interchange
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
$363,036
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
8.44%
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%
$7,260,720
$7.3M
Cap Rate 7%
$5,186,229
$5.2M
Cap Rate 9%
$4,033,733
$4.0M
Market Conditions
NOI Build-Up for 28,761 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
$569.5K $19.80/SF
− Vacancy
−$85.4K −$2.97/SF
EGI
$484.0K $16.83/SF
− OpEx
−$121.0K −$4.21/SF
NOI
$363.0K $12.62/SF
Area
Johnson County, IN
Vacancy
15.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$7,260,720
Cap Rate 7%
$5,186,229
Cap Rate 9%
$4,033,733
Alternative Uses
Best Use
Office B
$5.19M
$4.54M – $6.05M
NOI $363,036 @ 7.0% cap · market cap 8.44%
Second Best
Healthcare Medical
$4.90M
$4.29M – $5.71M
NOI $342,871 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$7.25M
$6.34M – $8.46M
NOI $507,344 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46131, IN
32,869
Population
13,151
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
261
Density / Sq Mi
$81,914
Median Household Income
$44,797
Median Earnings
$1,114
Median Rent
$227,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for established healthcare users with occupied space and additional suites available for expansion or new tenancy.
Where is this medical office space located?
The property is located at 1300 West Jefferson Street Franklin, IN.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Medical office property with in‑place healthcare income and available suites; Healthcare‑oriented layout and finishes support established clinical users; Visibility to more than 11,000 vehicles per day near the Highway 44/144 interchange
