Medical Office Condo
3641 Ridge Rd Highland, IN 46322
3641 Ridge Rd, Highland, IN, 46322
Contact for pricing
For Sale
Contact for pricing
Condo unit includes waiting room, multiple exam rooms, and dedicated tenant storage in an on-site detached garage.
Property Size1,476 SF
Price / SF$172.76
Days on Market45
Property Features for 3641 Ridge Rd
General Information
- Standard status
- Active
- Size
- 1,476 SF
- Property subtype
- OFFICE
Listing agency
Commercial In-Sites, LLC
(219) 795-1100
Listed by
David A Lasser
(219) 795-1100
Source
Moodyscre
Added: Jun 7 Updated: Jul 21 at 3:18AM Checked: Jul 21 at 3:18AM
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 Commercial In-Sites, LLC
Investment Insights
Based on property information with market context.
This is a five-unit medical office building with one condo unit for sale. Unit #1 is located on the east side of the building and includes a waiting room, business office, patient file area, three exam rooms, a surgical room, consultation office, and a lab/office room. The unit also features a kitchen, two bathrooms, and a utility room with a sink. Tenant storage is provided in a detached garage on site.
The property is located in Highland on the northwest corner of Ridge Road and Orchard Ave., with direct access to Interstate 80/94 via nearby roads. Plenty of parking is available in front and rear of the building, totaling 85 spaces. The building has a Property Owners Association, with dues of $240.00 per month.
As a condo within a medical office building, this unit is best suited for a single practice or a portion of a medical group, with exam-room-ready interior buildout and on-site storage support.
The property is located in Highland on the northwest corner of Ridge Road and Orchard Ave., with direct access to Interstate 80/94 via nearby roads. Plenty of parking is available in front and rear of the building, totaling 85 spaces. The building has a Property Owners Association, with dues of $240.00 per month.
As a condo within a medical office building, this unit is best suited for a single practice or a portion of a medical group, with exam-room-ready interior buildout and on-site storage support.
Key Highlights
- 5‑unit medical office building with 1 condo unit for sale (Unit #1, +/- 1,476 Gross SF)
- Unit #1 includes waiting room, business office, patient file area, 3 exam rooms, surgical room, consultation office, and lab/office room
- Unit #1 features a kitchen, utility room with a sink, and 2 bathrooms
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.8k | $16.80 |
| − Vacancy | −$2.5k | −$1.68 |
| EGI | $22.3k | $15.12 |
| − OpEx | −$8.9k | −$6.05 |
| NOI | $13.4k | $9.07 |
1,476 SF · lease $16.80/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$191.3K
$167.4K – $223.2K
NOI $13,390 @ 7.0% cap · market cap 5.25%
Second Best
Office B
$191.3K
$167.4K – $223.2K
NOI $13,390 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$261.1K
$228.5K – $304.7K
NOI $18,279 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
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- North Central Veterinary Clinic — 2425 Ridge Rd, Highland, IN 46322
FAQs
What type of property is this?
Medical Office Space - Condo unit includes waiting room, multiple exam rooms, and dedicated tenant storage in an on-site detached garage.
Where is this medical office space located?
The property is located at 3641 Ridge Rd Highland, IN.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 5‑unit medical office building with 1 condo unit for sale (Unit #1, +/- 1,476 Gross SF); Unit #1 includes waiting room, business office, patient file area, 3 exam rooms, surgical room, consultation office, and lab/office room; Unit #1 features a kitchen, utility room with a sink, and 2 bathrooms
