Medical Center on State Road
New
For Sale
$1,099,650
1807 S Anderson St, Elwood, IN 46036
A former dialysis facility includes a five-plus-year lease obligation and an 8.6% capitalization rate.
Property Size7,331 SF
Lot Size0.51 Acres
Price / SF$150
Days on Market3
Property Features for 1807 S Anderson St
General Information
Standard status
Active
Size
7,331 SF
Lot size
0.51 Acres
Property subtype
Retail
Additional Details
Cap Rate
8.6%
Road Access
Yes
Tenant in Place
Yes
Building Details
Building Size
7,331 SF
Year Built
1984
Tenancy
Single
Listing Agency:
Lee & Associates | Indianapolis
Listed By:
Bob Lindgren
(317) 218-1032
Source:
Lee-associates
Added: Nov 4
Last Checked: Nov 6 at 7:54AM
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 Lee & Associates | Indianapolis
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Investment Insights
Based on property information with market context.
This 7,331-square-foot medical center occupies 0.51 acres in Elwood. The property was formerly occupied by Fresenius Dialysis, which is now dark. A tenant lease obligation has more than five years remaining, with rent scheduled to increase to $106,317.93 per year on October 1, 2027. The stated capitalization rate is 8.6%.
The property fronts State Road 13, also known as Anderson Street, identified as Elwood’s major north-south route. Aspire medical building, restaurants, shopping and entertainment venues are within walking distance. A Dollar General store is across the street.
The property fronts State Road 13, also known as Anderson Street, identified as Elwood’s major north-south route. Aspire medical building, restaurants, shopping and entertainment venues are within walking distance. A Dollar General store is across the street.
Key Highlights
- 7,331 square feet on 0.51 acres
- Former Fresenius Dialysis facility; currently dark
- 8.6% capitalization rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,710
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,774,200
$1.8M
Cap Rate 7%
$1,267,286
$1.3M
Cap Rate 9%
$985,667
$985.7K
Market Conditions
NOI Build-Up for 7,331 SF
Gross rent
$177.7K $24.24/SF
− Vacancy
−$29.9K −$4.07/SF
EGI
$147.8K $20.17/SF
− OpEx
−$59.1K −$8.07/SF
NOI
$88.7K $12.10/SF
Area
Madison County, IN
Vacancy
16.80%
Lease Rate
$24.24 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,774,200
Cap Rate 7%
$1,267,286
Cap Rate 9%
$985,667
Alternative Uses
Best Use
Healthcare Medical
$1.27M
$1.11M – $1.48M
NOI $88,710 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,279 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
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Business Placement
Demographics for 46036, IN
11,247
Population
5,284
Households
2.1
Avg Household Size
44
Median Age
10%
College-Educated
92%
High-School Grad
80.3 sq mi
ZIP Area
140
Density / Sq Mi
$59,082
Median Household Income
$39,022
Median Earnings
$841
Median Rent
$108,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - A former dialysis facility includes a five-plus-year lease obligation and an 8.6% capitalization rate.
Where is this medical center located?
The property is located at 1807 S Anderson St Elwood, IN.
What is the asking price?
The asking price for this property is $1,099,650.
What are key features of this property?
This property features: 7,331 square feet on 0.51 acres; Former Fresenius Dialysis facility; currently dark; 8.6% capitalization rate
