Medical Office
340 Tracy Road, Whiteland, IN 46184
For Sale
$599,900
Commercial Sale, Whiteland, IN
Property Size3,339 SF
Lot Size0.81 Acres
Price / SF$179.66
Days on Market49
Property Features for 340 Tracy Road
General Information
Property type
Property subtype
Zoning
Security features
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
multiple offices/treatment rooms
reception and waiting areas
restroom facilities
Building Details
Year built
Floors in Building
Roof type
Buildings
Listing Agency:
Carpenter, REALTORS(R)
(317) 888-3303
Listed By:
Brandon Warfield · License IN RB14038234
(800) 630-1727
Added: Sep 22
Changed: Oct 24
Last Checked: Nov 9 at 2:06PM
MLS# 22127151
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This approximately 3,339-square-foot medical office building was constructed in 1972 and is arranged with multiple offices and treatment rooms. Reception and waiting areas, restroom facilities, forced-air heating, central air, and a membrane rubber roof are in place. The property sits on approximately 0.81 acre and includes on-site parking.
Located along Tracy Road in Whiteland, the property provides access to US 31, I-65, and surrounding Johnson County communities. GB-1 zoning supports a range of commercial applications. The existing layout can accommodate medical, professional office, and service-oriented operations, subject to applicable approvals.
Located along Tracy Road in Whiteland, the property provides access to US 31, I-65, and surrounding Johnson County communities. GB-1 zoning supports a range of commercial applications. The existing layout can accommodate medical, professional office, and service-oriented operations, subject to applicable approvals.
Key Highlights
- Approximately 3,339‑square‑foot medical office building
- Approximately 0.81 acre along Tracy Road
- Multiple offices and treatment rooms
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
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
NOI $42,147 @ 7.0% cap · market cap 7.03%
Second Best
Healthcare Medical
$568.7K
$497.6K – $663.4K
NOI $39,806 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$841.4K
$736.3K – $981.7K
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
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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 - Configured with treatment rooms, reception areas, restrooms, and on-site parking for professional or medical operations.
Where is this medical office space located?
The property is located at 340 Tracy Road 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: Approximately 3,339‑square‑foot medical office building; Approximately 0.81 acre along Tracy Road; Multiple offices and treatment rooms
