Freestanding Medical Office
417 West 38th Street Anderson, IN 46013
417 West 38th Street, Anderson, IN, 46013
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For Sale
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Freestanding building with five exam or treatment rooms, accessible restrooms, basement storage, and parking for about 12–13 vehicles.
Property Size1,584 SF
Price / SF$164.14
Days on Market85
Property Features for 417 West 38th Street
General Information
- Standard status
- Active
- Size
- 1,584 SF
- Property subtype
- Office
Building Details
- Year Built
- 1920
Listing agency
F.C Tucker Company
Listed by
Rizwan Bashir · License #RB24001271
Source
Crexi
Added: Apr 30 Updated: Jul 22 at 6:56PM Checked: Jul 22 at 6:56PM
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 F.C Tucker Company
Investment Insights
Based on property information with market context.
This freestanding 1,584 SF commercial building is designed for medical, spa, wellness, and other service-based office uses. The interior layout includes five exam or treatment rooms, with three rooms having sinks, plus a private office, break room, and two handicap-accessible restrooms. A spacious basement provides additional storage. Recent updates include fresh paint, new flooring, updated doors, and a newer A/C system. The property also features security cameras and handicap ramp access.
Located in South Anderson’s established 38th Street Professional Park near 38th Street and Fairview Street, the building offers visibility and convenient access. On-site parking is available for approximately 12–13 vehicles, supporting day-to-day operations and patient or client visits.
As a turnkey option with dedicated treatment-room space, accessible restrooms, and enclosed storage, the building can serve owner-users or tenants seeking a ready-to-operate professional facility.
Located in South Anderson’s established 38th Street Professional Park near 38th Street and Fairview Street, the building offers visibility and convenient access. On-site parking is available for approximately 12–13 vehicles, supporting day-to-day operations and patient or client visits.
As a turnkey option with dedicated treatment-room space, accessible restrooms, and enclosed storage, the building can serve owner-users or tenants seeking a ready-to-operate professional facility.
Key Highlights
- Freestanding 1,584 SF commercial building in South Anderson’s 38th Street Professional Park
- Layout includes 5 exam/treatment rooms (3 with sinks) plus a private office
- Two handicap‑accessible restrooms and handicap ramp access
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 | $30.8k | $19.44 |
| − Vacancy | −$3.0k | −$1.89 |
| EGI | $27.8k | $17.55 |
| − OpEx | −$7.0k | −$4.39 |
| NOI | $20.9k | $13.17 |
1,584 SF · lease $19.44/SF/yr · vacancy 9.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$297.9K
$260.7K – $347.6K
NOI $20,855 @ 7.0% cap · market cap 8.02%
Second Best
Healthcare Medical
$273.8K
$239.6K – $319.5K
NOI $19,167 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$365.1K
$319.5K – $425.9K
NOI $25,556 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Melissa Matthews
Physician
Dr. Zakia Naz, ...
Pediatrician
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FAQs
What type of property is this?
Office building - Freestanding building with five exam or treatment rooms, accessible restrooms, basement storage, and parking for about 12–13 vehicles.
Where is this office building located?
The property is located at 417 West 38th Street Anderson, IN.
What is the asking price?
The asking price for this property is $259,999.
What are key features of this property?
This property features: Freestanding 1,584 SF commercial building in South Anderson’s 38th Street Professional Park; Layout includes 5 exam/treatment rooms (3 with sinks) plus a private office; Two handicap‑accessible restrooms and handicap ramp access
