Medical Office Building with Seven
For Sale
$785,000
890 Richard Road, Dyer, IN 46311
Operational dental facility with dedicated clinical, administrative, and support areas.
Property Size4,000 SF
Price / SF$196.25
Days on Market24
Property Features for 890 Richard Road
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
22
Property subtype
Office
Additional Details
Business Included
Yes
Building Details
Buildings
1
Building Size
4,000 SF
Tenancy
Single
Listing Agency:
Joseph Rossi & Associates, Inc (JRA) - Corporate
(312) 953-3553
Listed By:
Joseph Rossi · License #471011064
(312) 953-3553
Source:
Jrossiandassociates
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 6:10PM
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 Joseph Rossi & Associates, Inc (JRA) - Corporate
Investment Insights
Based on property information with market context.
This medical office property includes a 4,000-square-foot dental facility with seven operatories, a private doctor’s office, and a separate business manager’s office. Additional support areas serve the operational layout, while existing A-dec, Belmont, and Pelton & Crane equipment is included with the property and practice.
The building is located at 890 Richard Road in Dyer, Indiana, and provides 22 on-site parking spaces. The existing configuration combines patient treatment areas, professional offices, support functions, and installed dental equipment within a dedicated healthcare setting.
The building is located at 890 Richard Road in Dyer, Indiana, and provides 22 on-site parking spaces. The existing configuration combines patient treatment areas, professional offices, support functions, and installed dental equipment within a dedicated healthcare setting.
Key Highlights
- 4,000‑square‑foot dental facility in Dyer, Indiana
- Seven operatories support the existing clinical layout
- Separate doctor’s office and business manager’s office
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
$55,987
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
7.13%
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%
$1,119,740
$1.1M
Cap Rate 7%
$799,814
$799.8K
Cap Rate 9%
$622,078
$622.1K
Market Conditions
NOI Build-Up for 4,000 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
$103.7K $25.92/SF
− Vacancy
−$10.4K −$2.59/SF
EGI
$93.3K $23.33/SF
− OpEx
−$37.3K −$9.33/SF
NOI
$56.0K $14.00/SF
Area
Lake County, IN
Vacancy
10.00%
Lease Rate
$25.92 /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%
$1,119,740
Cap Rate 7%
$799,814
Cap Rate 9%
$622,078
Alternative Uses
Best Use
Healthcare Medical
$799.8K
$699.8K – $933.1K
NOI $55,987 @ 7.0% cap · market cap 7.13%
Second Best
Office B
$724.8K
$634.2K – $845.6K
NOI $50,738 @ 7.0% cap · market cap 6.46%
Theoretical Best
Specialty Retail
$1.12M
$977.1K – $1.30M
NOI $78,165 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46311, IN
22,431
Population
9,128
Households
2.5
Avg Household Size
43
Median Age
37%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
1,780
Density / Sq Mi
$109,167
Median Household Income
$58,332
Median Earnings
$1,221
Median Rent
$300,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Operational dental facility with dedicated clinical, administrative, and support areas.
Where is this medical office space located?
The property is located at 890 Richard Road Dyer, IN.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 4,000‑square‑foot dental facility in Dyer, Indiana; Seven operatories support the existing clinical layout; Separate doctor’s office and business manager’s office
