Freestanding Medical Office
For Sale
Contact for pricing
15018 GREYHOUND CT, Carmel, IN 46032
Freestanding building on a 1-acre lot with existing surface parking and a veterinary-style interior layout.
Property Size5,403 SF
Lot Size1.00 Acre
Price / SF$182.31
Days on Market114
Property Features for 15018 GREYHOUND CT
General Information
Standard status
Active
Size
5,403 SF
Class
C
Total Parking Spaces
20
Lot size
1.00 Acre
Property subtype
Office
Zoning
General Business (GB)
Amenities
dedicated monument signage
Building Details
Year Built
1986
Stories
1
Units
1
Listing Agency:
Keller Williams Indy Metro South
Listed By:
Jay Jossan · License #RB21000870
Source:
Crexi
Added: Jun 30
Changed: Oct 7
Last Checked: Oct 20 at 7:44PM
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 Keller Williams Indy Metro South
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.
Rare freestanding commercial building in the Carmel–Westfield corridor with a veterinary-style interior layout. Public records show approximately 5,403 SF on a full 1.00-acre lot, and the prior animal hospital use remains reflected in the existing layout. The property is suited for medical, dental, daycare, med spa, professional office, or similar service-based businesses.
The site includes 20 existing surface parking spaces and dedicated monument signage. It also offers room to expand parking on-site if needed. The building is located near major retail anchors including Target, Walmart Supercenter, Lowe's, Menards, Kohl's, ALDI, Best Buy, and Clay Terrace.
This is a single-site, owner-occupied style configuration with on-site parking and a layout that supports service-oriented operations.
The site includes 20 existing surface parking spaces and dedicated monument signage. It also offers room to expand parking on-site if needed. The building is located near major retail anchors including Target, Walmart Supercenter, Lowe's, Menards, Kohl's, ALDI, Best Buy, and Clay Terrace.
This is a single-site, owner-occupied style configuration with on-site parking and a layout that supports service-oriented operations.
Key Highlights
- Approx. 5,403 SF freestanding commercial building on a full 1.00‑acre lot
- Veterinary‑style interior layout, previously used as an animal hospital
- 20 existing surface parking spaces, with room to expand parking on‑site if needed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,780
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,395,600
$1.4M
Cap Rate 7%
$996,857
$996.9K
Cap Rate 9%
$775,333
$775.3K
Market Conditions
NOI Build-Up for 5,403 SF
Gross rent
$113.5K $21.00/SF
− Vacancy
−$20.4K −$3.78/SF
EGI
$93.0K $17.22/SF
− OpEx
−$23.3K −$4.31/SF
NOI
$69.8K $12.92/SF
Area
Carmel, IN
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,395,600
Cap Rate 7%
$996,857
Cap Rate 9%
$775,333
Alternative Uses
Best Use
Office B
$996.9K
$872.3K – $1.16M
NOI $69,780 @ 7.0% cap · market cap 7.08%
Second Best
Healthcare Medical
$978.1K
$855.8K – $1.14M
NOI $68,467 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,199 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46032, IN
50,477
Population
22,118
Households
2.3
Avg Household Size
40
Median Age
75%
College-Educated
98%
High-School Grad
25.3 sq mi
ZIP Area
1,995
Density / Sq Mi
$123,438
Median Household Income
$70,558
Median Earnings
$1,522
Median Rent
$464,200
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
- Banfield Pet Hospital — 14720 Greyhound Plaza, Carmel, IN 46032
- PetVet365 Pet Hospital Indianapolis / Cool Creek — 2458 E 146th St, Carmel, IN 46033
- Clayton Family Veterinary Care — 14757 Oak Rd Ste 200, Carmel, IN 46033
Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding building on a 1-acre lot with existing surface parking and a veterinary-style interior layout.
Where is this medical office space located?
The property is located at 15018 GREYHOUND CT Carmel, IN.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Approx. 5,403 SF freestanding commercial building on a full 1.00‑acre lot; Veterinary‑style interior layout, previously used as an animal hospital; 20 existing surface parking spaces, with room to expand parking on‑site if needed
