Corner Medical Office
New
For Sale
$400,000
8202 Clearvista Pw, Indianapolis, IN 46256
Commercial Sale, Indianapolis, IN
Property Size1,800 SF
Lot Size0.57 Acres
Price / SF$222.22
Days on Market2
Property Features for 8202 Clearvista Pw
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C3 Com Medical Clinic/off
Elementary school district
MSD Lawrence Township
Middle school district
MSD Lawrence Township
High school district
MSD Lawrence Township
Directions
GPS Friendly
Subdivision
4904 - Marion - Lawrence
Standard status
Active
APN
490223111007000400
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Pt Se1/4 Nw1/4 S23 T17 R4 Beg 15' W & 90' N Of Secor W 45' N40' E 45' S 40' To Beg (Suite B, Bldg5, On Block 5) .041Ac
Tax Annual Amount
6638
Legal Description
Pt Se1/4 Nw1/4 S23 T17 R4 Beg 15' W & 90' N Of Secor W 45' N40' E 45' S 40' To Beg (Suite B, Bldg5, On Block 5) .041Ac
Listing Agency:
CENTURY 21 Scheetz · Century 21 Real Estate
(317) 705-2500
Listed By:
Mark Harris · License #RB14045088
(317) 844-5111
Added: Sep 14
Last Checked: Sep 15 at 2:06AM
MLS# 22126000
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office property is located within Regency Centre at 8202 Clearvista Pw in Indianapolis. The corner-positioned building has served as a medical office for 15 years and carries C3 Com Medical Clinic/off zoning, supporting its established healthcare-oriented profile.
Community North Hospital is directly across from the property, while I-69 and I-465 provide immediate regional highway access. The address is situated near the Geist, Fishers, and Castleton communities, placing the property within a broad northeastern Indianapolis service area. Its location and zoning are suited to professional office uses, including medical, insurance, and attorney offices, as well as creative or health-focused businesses.
Community North Hospital is directly across from the property, while I-69 and I-465 provide immediate regional highway access. The address is situated near the Geist, Fishers, and Castleton communities, placing the property within a broad northeastern Indianapolis service area. Its location and zoning are suited to professional office uses, including medical, insurance, and attorney offices, as well as creative or health-focused businesses.
Key Highlights
- Medical office use for 15 years
- C3 Com Medical Clinic/off zoning
- Corner position within Regency Centre
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
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,762
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office property with C3 zoning, hospital proximity, and direct access to I-69 and I-465.
Where is this medical office space located?
The property is located at 8202 Clearvista Pw 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 use for 15 years; C3 Com Medical Clinic/off zoning; Corner position within Regency Centre
