Class A Two-Tenant Medical
385 Meridian Parke Lane Greenwood, IN 46142
For Sale
Contact for pricing
NNN-leased medical office built in 2003, featuring Class A finishes and full occupancy under an established tenant base.
Property Size12,863 SF
Price / SF$219.62
Days on Market55
Property Features for 385 Meridian Parke Lane
General Information
Standard status
Active
Size
12,863 SF
Property subtype
Office
Building Details
Year Built
2003
Listing Agency:
Cushman & Wakefield - Indianapolis, Indiana
Listed By:
Brooke Ratliff · License #25000924
Source:
Crexi
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 27 at 1:11PM
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 Cushman & Wakefield - Indianapolis, Indiana
Investment Insights
Based on property information with market context.
385 Meridian Parke Lane is a two-tenant, NNN-leased Class A medical office building built in 2003. The property is described as well-maintained and includes Class A architectural elements such as limestone accents and upgraded tenant interior finishes. The building is currently 100% occupied, and the reported WALT is 7.67 years.
The property is located in the City of Greenwood, which is characterized in the remarks as a fast-growing bedroom community with dense single-family development and high average household incomes. The location is presented as part of a suburban healthcare submarket within the Indianapolis area.
With two medical office tenants and NNN leasing structure, the asset is positioned for buyers seeking an easy-to-manage, Class A office investment with established occupancy. Tenant interior finish upgrades and the Class A exterior design are intended to support professional medical use and day-to-day operations for the existing occupants.
The property is located in the City of Greenwood, which is characterized in the remarks as a fast-growing bedroom community with dense single-family development and high average household incomes. The location is presented as part of a suburban healthcare submarket within the Indianapolis area.
With two medical office tenants and NNN leasing structure, the asset is positioned for buyers seeking an easy-to-manage, Class A office investment with established occupancy. Tenant interior finish upgrades and the Class A exterior design are intended to support professional medical use and day-to-day operations for the existing occupants.
Key Highlights
- Two‑tenant, NNN‑leased medical office building built in 2003
- Class A medical office with limestone accents and upgraded tenant interior finishes
- 100% occupancy with a 7.67‑year WALT
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 | $254.7k | $19.80 |
| − Vacancy | −$38.2k | −$2.97 |
| EGI | $216.5k | $16.83 |
| − OpEx | −$54.1k | −$4.21 |
| NOI | $162.4k | $12.62 |
12,863 SF · lease $19.80/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.32M
$2.03M – $2.71M
NOI $162,363 @ 7.0% cap · market cap 5.75%
Second Best
Healthcare Medical
$2.19M
$1.92M – $2.56M
NOI $153,345 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,903 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - NNN-leased medical office built in 2003, featuring Class A finishes and full occupancy under an established tenant base.
Where is this medical office space located?
The property is located at 385 Meridian Parke Lane Greenwood, IN.
What is the asking price?
The asking price for this property is $2,825,000.
What are key features of this property?
This property features: Two‑tenant, NNN‑leased medical office building built in 2003; Class A medical office with limestone accents and upgraded tenant interior finishes; 100% occupancy with a 7.67‑year WALT
