340 Tracy Rd, Whiteland, IN 46184

Building Details

Year Built 1972 More

Buildings 1 More

Building Size 3,339 SF More

Listing Agency: Carpenter, REALTORS

Listed By: Brandon Warfield · License IN RB14038234 Show Phone

Source: Megandusing

Added: Sep 24 Changed: Oct 25 Last Checked: Oct 7 at 4:07PM

Report an Issue

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 Carpenter, REALTORS

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 3,339-square-foot medical office building, constructed in 1972, has multiple offices and treatment rooms alongside reception and waiting areas. Restroom facilities and on-site parking are also part of the property.

The 0.81-acre site fronts Tracy Road in Whiteland, with access to US 31 and I-65. GB-1 zoning supports a range of potential uses.

Key Highlights

• 3,339‑square‑foot professional office building built in 1972
• Multiple offices and treatment rooms, plus reception and waiting areas
• 0.81‑acre site along Tracy Road in Whiteland

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,147

Cap Rate

7.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$842,940 $842.9K

Cap Rate 7%

$602,100 $602.1K

Cap Rate 9%

$468,300 $468.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,339 SF

Gross rent

$66.1K $19.80/SF

− Vacancy

−$9.9K −$2.97/SF

EGI

$56.2K $16.83/SF

− OpEx

−$14.0K −$4.21/SF

NOI

$42.1K $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 Rate 5%

$842,940

Cap Rate 7%

$602,100

Cap Rate 9%

$468,300

Alternative Uses

Best Use

Office B

$602.1K

$526.8K – $702.5K (±1% cap)

NOI $42,147 @ 7.0% cap · market cap 7.03%

Second Best

Healthcare Medical

$568.7K

$497.6K – $663.4K (±1% cap)

NOI $39,806 @ 7.0% cap · market cap 6.64%

Theoretical Best

Office A

$841.4K

$736.3K – $981.7K (±1% cap)

NOI $58,900 @ 7.0% cap · market cap 9.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Kolody Diane M ... Pediatrician Bullington Douglas K ... Physician Dermatology Center of Southern ... Physician Wiseman John D ... Physician Family Physicians-Johnson County: ... Pediatrician

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Kitchen & Bath Showroom Bakery Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

207

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 46184, IN

13,023

Population

5,290

Households

2.5

Avg Household Size

36

Median Age

25%

College-Educated

92%

High-School Grad

18.1 sq mi

ZIP Area

720

Density / Sq Mi

$90,250

Median Household Income

$48,443

Median Earnings

$1,684

Median Rent

$205,100

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Similar For Sale Nearby

See more

Three-Unit Triplex on Main Road

589 E Main St, Whiteland, IN 46184

$250,000

10,934 SF

View details

Flex Property with Loading Docks

594 N Front Street, Whiteland, IN 46184

$2,199,999

38,000 SF

View details

Warehouse and Flex Building with Dock Doors

141 Crossroads Dr, Whiteland, IN 46184

Contact for pricing

30,350 SF

View details

Two-Unit Duplex

69 West Street, Whiteland, IN 46184

$140,000

0.12 Acres

View details

Logistics Center with I-65 Access

186 Bob Glidden Blvd, Whiteland, IN 46184

Contact for pricing

1,195,623 SF

View details

Similar Off Market Nearby

• Whiteland Animal Clinic — 6540 US 31 S, Whiteland, IN 46184

Frequently Asked Questions

What type of property is this?

Medical Office Space - Reception and waiting areas complement a multi-room layout on a 0.81-acre site.

Where is this medical office space located?

The property is located at 340 Tracy Rd Whiteland, IN.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: 3,339‑square‑foot professional office building built in 1972; Multiple offices and treatment rooms, plus reception and waiting areas; 0.81‑acre site along Tracy Road in Whiteland