Medical Office Suite with
373 Meridian Parke Ln Greenwood, IN 46142
For Sale
Contact for pricing
Medical office space offers 13 exam rooms, private entrances, and a basement storage area in Meridian Parke.
Property Size5,864 SF
Price / SF$221.69
Days on Market259
Property Features for 373 Meridian Parke Ln
General Information
Standard status
Active
Size
5,864 SF
Property subtype
OFFICE
Listing Agency:
CornerStone Companies Inc
(317) 919-2992
Listed By:
Bill McClamroch
(317) 919-2992
Source:
Moodyscre
Added: Nov 12, 2025
Changed: Jul 25
Last Checked: Jul 28 at 3:33PM
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 CornerStone Companies Inc
Investment Insights
Based on property information with market context.
This medical office suite is available for sale or lease and includes 5,864 square feet plus basement space that can be divided. The space features 13 exam rooms, two nurses’ stations, four physician offices, and a breakroom. Additional improvements include a large file room/reception area, along with a shared lobby with two separate waiting rooms and private entrances.
The property is located in the Meridian Parke development and benefits from a high-traffic area with strong accessibility. Many amenities are nearby.
A basement level provides additional storage, supporting practical day-to-day operations and keeping key areas organized for patient and staff use.
The property is located in the Meridian Parke development and benefits from a high-traffic area with strong accessibility. Many amenities are nearby.
A basement level provides additional storage, supporting practical day-to-day operations and keeping key areas organized for patient and staff use.
Key Highlights
- Medical office for lease with 5,864 SF plus basement space (divisible)
- Includes 13 exam rooms, 4 physician offices, and 2 nurses’ stations
- Features shared lobby with 2 separate waiting rooms and private entrances
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 5.69%
Second Best
Healthcare Medical
$998.7K
$873.8K – $1.17M
NOI $69,907 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,441 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Meridian Veterinary Clinic & Hospital — 648 Treybourne Dr, Greenwood, IN 46142
- Borlik Gregory DVM — 510 S State Rd 135, Greenwood, IN 46142
- Academy Animal Hospital — 510 S State Rd 135, Greenwood, IN 46142
- Mc Naul Erica DVM — 510 S State Rd 135, Greenwood, IN 46142
- Sheff, Jon DVM — 648 Treybourne Dr, Greenwood, IN 46142
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space offers 13 exam rooms, private entrances, and a basement storage area in Meridian Parke.
Where is this medical office space located?
The property is located at 373 Meridian Parke Ln Greenwood, IN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Medical office for lease with 5,864 SF plus basement space (divisible); Includes 13 exam rooms, 4 physician offices, and 2 nurses’ stations; Features shared lobby with 2 separate waiting rooms and private entrances
