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    Medical Office Building on Meridian Title is generated by Realmo AI

    8003 S Meridian St, Indianapolis, IN 46227

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    1,960 SF medical office near Community Hospital South.

    Type:OFFICE
    Property size:
    1,960 SF
    Lot size:
    1.20 Acres
    Price / SF:
    $252/SF
    Added:
    Apr 30, 2026
    Days on Market:
    29
    Last Refresh:
    May 8 at 3:39 am

    Property Features for 8003 S Meridian St

    General Information

    Standard status
    Active
    Size
    1,960 SF
    Lot size
    1.20 Acres
    Property subtype
    OFFICE

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    Listing Contact
    Chris Helft
    Chris Helft

    Listing agent Chris Helft License #RB15000975

    Listing office Avison Young | Indianapolis

    Listing date Apr 30, 2026

    Source Moodyscre

    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 Avison Young | Indianapolis

    HighLights

    • Zoned C‑3 for flexible commercial/medical use
    • Approximately a seven‑minute drive from Community Hospital South
    • 14 on‑site parking spaces
    • Two ingress/egress points directly onto Meridian Street
    • Roof replaced in 2020
    • High visibility with average daily traffic count of 30,698 vehicles (2024)

    Overview

    The property is a 1,960 square-foot medical office building situated on a 1.20-acre lot. Constructed in 1980, the building had its roof replaced in 2020. It is zoned C-3, allowing for flexible commercial or medical use. The property features 14 on-site parking spaces and two ingress/egress points directly onto Meridian Street. The average daily traffic count is 30,698 vehicles as of 2024. It is located approximately a seven-minute drive from Community Hospital South.

    Financial Insights

    Value Estimation Calculated for Healthcare Medical

    Conservative
    $280.7K
    NOI $25,260 @ 9.00% cap · cautious / downside scenario
    Moderate
    $360.9K
    NOI $25,260 @ 7.00% cap · market / base-case scenario
    Aggressive
    $505.2K
    NOI $25,260 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
    Calculated for Healthcare Medical

    Component $ $/SF
    Gross rent $47.0k $24.00
    − Vacancy −$4.9k −$2.52
    EGI $42.1k $21.48
    − OpEx −$16.8k −$8.59
    NOI $25.3k $12.89
    1,960 SF · lease $24.00/SF/yr · vacancy 10.50% · expense 40.00%

    Alternative Use Scenarios

    Best Use
    Healthcare Medical
    $360.9K
    $315.8K – $421.0K (±1% cap)
    NOI $25,260 @ 7.0% cap · market cap 5.10%
    Second Best
    Office B
    $344.2K
    $301.2K – $401.6K (±1% cap)
    NOI $24,097 @ 7.0% cap · market cap 4.87%
    Theoretical Best
    Office A
    $487.1K
    $426.2K – $568.2K (±1% cap)
    NOI $34,094 @ 7.0% cap · market cap 6.89%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.157116
    Latitude
    39.650381

    FAQs

    What type of property is this?
    Medical Office Space - 1,960 SF medical office near Community Hospital South.
    Where is this medical office space located?
    The property is located at 8003 S Meridian St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Zoned C‑3 for flexible commercial/medical use; Approximately a seven‑minute drive from Community Hospital South; 14 on‑site parking spaces
    (317) 213-3246 Call to check price and availability
    More about this property
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