Medical Condo with Exam
373 Meridian Parke Lane Suite B Greenwood, IN 46142
Medical condo suite with 13 exam rooms, nurse stations, and separate waiting rooms for efficient patient flow.
Type:Office
Property size:
5,864 SFPrice / SF:
$170/SF- Added:
- Jun 17, 2026
- Days on Market:
- 26
- Last Refresh:
- Jun 24 at 2:37 am
Property Features for 373 Meridian Parke Lane Suite B
General Information
- Standard status
- Active
- Size
- 5,864 SF
- Property subtype
- Office
Building Details
- Year Built
- 1998
Listing office AG Commercial Real Estate
Listing date Jun 17, 2026
Source Crexi
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 AG Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 1998, this meticulously maintained medical condo unit is designed for high-volume efficiency and patient comfort. The layout includes a shared lobby with two separate waiting rooms and private entrances. Inside, the space is comprehensively equipped with 13 exam rooms and two dedicated nurse stations, supported by four physician offices. Additional administrative space includes a large file room/reception area and a breakroom for staff convenience. A basement provides significant additional storage capacity.
The unit is located within a thriving development that includes retail, medical, and professional services. The property is described as benefiting from high visibility and excellent accessibility within the surrounding area.
For medical practices and service providers seeking a ready-to-operate facility, the configuration supports both clinical exam activity and day-to-day administration within a single, purpose-built suite. With private entrances, multiple exam rooms, nurse stations, and built-in staff and storage areas, the space can accommodate teams that need efficient patient processing alongside organized records and workspace.
The unit is located within a thriving development that includes retail, medical, and professional services. The property is described as benefiting from high visibility and excellent accessibility within the surrounding area.
For medical practices and service providers seeking a ready-to-operate facility, the configuration supports both clinical exam activity and day-to-day administration within a single, purpose-built suite. With private entrances, multiple exam rooms, nurse stations, and built-in staff and storage areas, the space can accommodate teams that need efficient patient processing alongside organized records and workspace.
Key Highlights
- Built in 1998 medical condo unit originally occupied and well maintained
- 13 exam rooms plus 2 dedicated nurse stations
- Separate waiting rooms with shared lobby and private entrances
Local Financial Insights For Office B
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 | $116.1k | $19.80 |
| − Vacancy | −$17.4k | −$2.97 |
| EGI | $98.7k | $16.83 |
| − OpEx | −$24.7k | −$4.21 |
| NOI | $74.0k | $12.62 |
5,864 SF · lease $19.80/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.06M
$925.2K – $1.23M
NOI $74,018 @ 7.0% cap · market cap 7.40%
Second Best
Healthcare Medical
$998.7K
$873.8K – $1.17M
NOI $69,907 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,441 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
South Grove Eye ...
Physician
First American Title ...
Title Company
Fidelity National Title
Title Company
Kidd Pediatric: Kidd ...
Pediatrician
Kidd Pediatrics
Pediatrician
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FAQs
What type of property is this?
Medical Office Space - Medical condo suite with 13 exam rooms, nurse stations, and separate waiting rooms for efficient patient flow.
Where is this medical office space located?
The property is located at 373 Meridian Parke Lane Suite B Greenwood, IN.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: Built in 1998 medical condo unit originally occupied and well maintained; 13 exam rooms plus 2 dedicated nurse stations; Separate waiting rooms with shared lobby and private entrances
