Carmel Office Building For
695 Pro-Med Ln, Carmel, IN 46032
For Sale
Contact for pricing
18,138 SqFt office building in Carmel, Indiana.
Property Size18,138 SF
Price / SF$234.31
Days on Market232
Property Features for 695 Pro-Med Ln
General Information
Standard status
Size
Class
Property subtype
Zoning
Building Details
Year Built
Year Renovated
Buildings
Stories
Listing Agency:
SVN⎮Northern Commercial
Listed By:
Jess Lawhead · License IN RB14047741
(317) 454-2241
Source:
Crexi
Added: Mar 24
Changed: Nov 3
Last Checked: Nov 10 at 6:40AM
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 SVN⎮Northern Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property features an office building with 18,138 square feet of space. The property is located in Carmel, Indiana.
Key Highlights
- Office property
- 18,138 SqFt of space
- Built in 2003
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$234,252
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,685,040
$4.7M
Cap Rate 7%
$3,346,457
$3.3M
Cap Rate 9%
$2,602,800
$2.6M
Market Conditions
NOI Build-Up for 18,138 SF
Gross rent
$380.9K $21.00/SF
− Vacancy
−$68.6K −$3.78/SF
EGI
$312.3K $17.22/SF
− OpEx
−$78.1K −$4.31/SF
NOI
$234.3K $12.92/SF
Area
Carmel, IN
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,685,040
Cap Rate 7%
$3,346,457
Cap Rate 9%
$2,602,800
Alternative Uses
Best Use
Office B
$3.35M
$2.93M – $3.90M
NOI $234,252 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.76M
$4.16M – $5.55M
NOI $333,014 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,632
Businesses Nearby
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Business Placement
Demographics for 46032, IN
50,477
Population
22,118
Households
2.3
Avg Household Size
40
Median Age
75%
College-Educated
98%
High-School Grad
25.3 sq mi
ZIP Area
1,995
Density / Sq Mi
$123,438
Median Household Income
$70,558
Median Earnings
$1,522
Median Rent
$464,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Hamilton County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - 18,138 SqFt office building in Carmel, Indiana.
Where is this office building located?
The property is located at 695 Pro-Med Ln Carmel, IN.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Office property; 18,138 SqFt of space; Built in 2003
