Multi-Tenant Medical Office
For Sale
Contact for pricing
2455 East Main St, Plainfield, IN 46168
Purpose-built outpatient facility with two healthcare tenants and full occupancy.
Property Size6,678 SF
Price / SF$439.05
Days on Market18
Property Features for 2455 East Main St
General Information
Standard status
Active
Size
6,678 SF
Class
B
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$212,572
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2016
Tenancy
Multi
Listing Agency:
Atlantic Capital Partners
(704) 375-7771
Listed By:
David Hoppe · License #NC 288268
Source:
Crexi
Added: Aug 4
Changed: Aug 19
Last Checked: Aug 20 at 10:17AM
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 Atlantic Capital Partners
Investment Insights
Based on property information with market context.
Built in 2016, this 6,678-square-foot medical office property is configured as a multi-tenant outpatient facility. The building is 100% leased to Heartland Dental and IU Health Urgent Care, providing two healthcare occupants within the same asset.
The property is located at 2455 East Main Street in Plainfield, along US-40 and adjacent to Walmart Supercenter at Plainfield Crossing. East Main Street carries exposure to more than 32,000 vehicles per day. Interstate 70 and Indianapolis International Airport are accessible from the property, with the site positioned within the greater Indianapolis metropolitan area.
The property is located at 2455 East Main Street in Plainfield, along US-40 and adjacent to Walmart Supercenter at Plainfield Crossing. East Main Street carries exposure to more than 32,000 vehicles per day. Interstate 70 and Indianapolis International Airport are accessible from the property, with the site positioned within the greater Indianapolis metropolitan area.
Key Highlights
- 6,678 SF medical office property constructed in 2016
- 100% leased to Heartland Dental and IU Health Urgent Care
- Multi‑tenant outpatient medical facility
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
$97,690
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
3.33%
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%
$1,953,800
$2.0M
Cap Rate 7%
$1,395,571
$1.4M
Cap Rate 9%
$1,085,444
$1.1M
Market Conditions
NOI Build-Up for 6,678 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
$144.2K $21.60/SF
− Vacancy
−$14.0K −$2.10/SF
EGI
$130.3K $19.50/SF
− OpEx
−$32.6K −$4.88/SF
NOI
$97.7K $14.63/SF
Area
Hendricks County, IN
Vacancy
9.70%
Lease Rate
$21.60 /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%
$1,953,800
Cap Rate 7%
$1,395,571
Cap Rate 9%
$1,085,444
Alternative Uses
Best Use
Office B
$1.40M
$1.22M – $1.63M
NOI $97,690 @ 7.0% cap · market cap 3.33%
Second Best
Healthcare Medical
$1.17M
$1.03M – $1.37M
NOI $82,133 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,345 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46168, IN
37,681
Population
14,426
Households
2.6
Avg Household Size
38
Median Age
37%
College-Educated
92%
High-School Grad
32.8 sq mi
ZIP Area
1,149
Density / Sq Mi
$87,315
Median Household Income
$45,252
Median Earnings
$1,307
Median Rent
$271,400
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 - Purpose-built outpatient facility with two healthcare tenants and full occupancy.
Where is this medical office space located?
The property is located at 2455 East Main St Plainfield, IN.
What is the asking price?
The asking price for this property is $2,932,000.
What are key features of this property?
This property features: 6,678 SF medical office property constructed in 2016; 100% leased to Heartland Dental and IU Health Urgent Care; Multi‑tenant outpatient medical facility
