Corner Medical Office
New
For Sale
$400,000
5b-8202 Clearvista Pkwy, Indianapolis, IN 46256
Positioned in Regency Centre across from Community North Hospital with direct access to I-69 and I-465.
Property Size1,800 SF
Price / SF$222.22
Days on Market7
Property Features for 5b-8202 Clearvista Pkwy
General Information
Standard status
Active
Size
1,800 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,319
Listing Agency:
Century 21 Scheetz - Carmel
Listed By:
Mark Harris · License #RB14045088
(317) 431-2969
Source:
Exprealty
Added: Sep 14
Changed: Sep 18
Last Checked: Sep 19 at 3:32PM
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 Century 21 Scheetz - Carmel
Investment Insights
Based on property information with market context.
This medical office space is located within Regency Centre at 8202 Clearvista Pkwy in Indianapolis. The property occupies a corner position and has served as a medical office for 15 years, providing an established setting for professional office use.
The location is directly across from Community North Hospital and offers access to both I-69 and I-465. It is situated in northeast Indianapolis near Geist, Fishers, and Castleton, providing a regional setting for office users.
The location is directly across from Community North Hospital and offers access to both I-69 and I-465. It is situated in northeast Indianapolis near Geist, Fishers, and Castleton, providing a regional setting for office users.
Key Highlights
- Medical office space within Regency Centre
- Corner location at 8202 Clearvista Pkwy
- Directly across from Community North Hospital
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,846
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$476,920
$476.9K
Cap Rate 7%
$340,657
$340.7K
Cap Rate 9%
$264,956
$265.0K
Market Conditions
NOI Build-Up for 1,800 SF
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.
Gross rent
$43.2K $24.00/SF
− Vacancy
−$3.5K −$1.92/SF
EGI
$39.7K $22.08/SF
− OpEx
−$15.9K −$8.83/SF
NOI
$23.8K $13.25/SF
Area
Indianapolis, IN
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$476,920
Cap Rate 7%
$340,657
Cap Rate 9%
$264,956
Alternative Uses
Best Use
Healthcare Medical
$340.7K
$298.1K – $397.4K
NOI $23,846 @ 7.0% cap · market cap 5.96%
Second Best
Office B
$339.5K
$297.1K – $396.1K
NOI $23,765 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$448.0K
$392.0K – $522.7K
NOI $31,363 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46256, IN
22,598
Population
10,118
Households
2.2
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
2,036
Density / Sq Mi
$86,529
Median Household Income
$55,021
Median Earnings
$1,136
Median Rent
$277,800
Median Home Value
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Positioned in Regency Centre across from Community North Hospital with direct access to I-69 and I-465.
Where is this medical office space located?
The property is located at 5b-8202 Clearvista Pkwy Indianapolis, IN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Medical office space within Regency Centre; Corner location at 8202 Clearvista Pkwy; Directly across from Community North Hospital
