Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Medical Office Building Title is generated by Realmo AI

    1692 W Logansport Rd, Peru, IN

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    6,308 SF medical office near Dukes Memorial Hospital.

    Type:OFFICE
    Property size:
    6,308 SF
    Lot size:
    1.13 Acres
    Added:
    Jul 15, 2025
    Days on Market:
    322
    Last Refresh:
    May 20 at 8:25 pm

    Property Features for 1692 W Logansport Rd

    General Information

    Standard status
    Active
    Size
    6,308 SF
    Lot size
    1.13 Acres
    Property subtype
    OFFICE

    Properties For Sale

    at 1692 W Logansport Rd Contact us

    We can help!

    Listing Contact
    Jenny McAllister
    Jenny McAllister

    Listing agent Jenny McAllister License #RB14026888

    Listing office CornerStone Companies Inc

    Listing date Jul 15, 2025

    Source Moodyscre

    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 CornerStone Companies Inc

    HighLights

    • Prime healthcare setting, less than 2 miles from Dukes Memorial Hospital – Lutheran Health Network
    • 6,308 SF freestanding medical office building
    • Features multiple exam rooms and offices, reception, waiting room, 4 restrooms, nurses station, imaging room, procedure room, lab, breakroom, and storage
    • Highly visible location with excellent exterior signage opportunities
    • Ample parking
    • Easy access to major highways including US 31 and US 24

    Overview

    This is a 6,308 square foot freestanding medical office building constructed in 1979. The building features multiple exam rooms and offices, a reception area, waiting room, four restrooms, a nurses station, an imaging room, a procedure room, a lab, a breakroom, and storage space. Significant plumbing is present throughout the building. An X-ray machine can be removed or remain for future tenant use. Ample parking is available. The property benefits from a highly visible location with opportunities for exterior signage. It is located less than 2 miles from Dukes Memorial Hospital – Lutheran Health Network, providing a prime healthcare setting with easy access to major highways including US 31 and US 24.
    Property Profile Location Intelligence

    Current Use by Public Records

    Savino Yoko DO Physician

    Suggested Use

    Restaurant Building Supply Dental Office Auto Repair Shop Storage Facility Discount Store Furniture & Home Goods Nursing Home Carpet & Flooring Store Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Peru
    County
    Miami
    State
    Indiana
    Longitude
    -86.1196
    Latitude
    40.7502

    Nearby Similar for Sale

    • $5,750,000
      8,842 SF

      Premier Agri-Tourism Destination For Sale

      90+ acre agri-tourism destination with luxury residence and orchard.
      5054 N Us Route 31, Peru, IN 46970
      View Details
    • $390,000

      Versatile Commercial Property on Corner Lot

      Multi-unit property with income potential in a desirable commercial setting.
      400 N Broadway Street, Peru, IN 46970-1445
      View Details
    • $139,900
      2,566 SF

      Turnkey Duplex Investment Opportunity

      Duplex with immediate income potential and value-add opportunity.
      12 & 12 1/2 N Lafayette Street, Peru, IN 46970
      View Details
    • $50,000
      48,744 SF

      Vacant Warehouse and Processing Facility

      48,744 SF vacant facility on 2.23 acres in Peru, IN.
      208 N Miami St, Peru, IN 46970
      View Details
    • $109,000
      3,400 SF

      Spacious Duplex with Detached Garage

      Large duplex with 6 bedrooms, 4 bathrooms, and detached garage.
      62 East 2nd Street, Peru, IN 46970
      View Details
    • $2,550,000
      60,600 SF

      60,600 SF Industrial Facility

      60,600 SF industrial facility on 5.67 acres for sale.
      1040-1050 Industrial Pkwy, Peru, IN
      View Details
    • $650,000
      12,306 SF

      Multi-Building Investment Property in Peru

      Multi-building property with 15 units, offering income and growth potential.
      371 West 12th Street, Peru, IN 46970
      View Details
    • $450,000
      13,592 SF

      Manufacturing and Office Buildings

      Two connected buildings suitable for manufacturing and office use.
      179 N Miami, Peru, IN 46970
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 6,308 SF medical office near Dukes Memorial Hospital.
    Where is this medical office space located?
    The property is located at 1692 W Logansport Rd Peru, IN.
    What are key features of this property?
    This property features: Prime healthcare setting, less than 2 miles from Dukes Memorial Hospital – Lutheran Health Network; 6,308 SF freestanding medical office building; Features multiple exam rooms and offices, reception, waiting room, 4 restrooms, nurses station, imaging room, procedure room, lab, breakroom, and storage
    (317) 841-9900 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jenny McAllister
    Jenny McAllister
    Real Estate License ID: RB14026888
    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

    Thank You for Inquiry
    1692 W Logansport Rd, Peru, IN
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!