Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    373 Meridian Parke Ln Greenwood, IN 46142

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Medical Office: 5,864 SF Available

    Lot size:
    5,864 SF

    Property Features for 373 Meridian Parke Ln

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,864 SF

    Spaces For Lease

    at 373 Meridian Parke Ln, Greenwood, IN 46142 Contact us

    We can help!

    Listing Contact
    Bill Mcclamroch
    Bill Mcclamroch

    Listing Agency: Cornerstone Companies Inc Listing Agent: Bill Mcclamroch

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional medical office space, located at 373 Meridian Parke Lane in Greenwood, Indiana, within Johnson County, presents a unique leasing opportunity. The property is a multi-tenant building offering a total of 5,864 square feet currently available for lease. The suite itself boasts a comprehensive layout perfectly suited for medical practices, featuring thirteen exam rooms, two nurses' stations, and four physician offices. Ample space is provided for administrative functions, including a sizable file room and a comfortable breakroom. Additional storage is conveniently located in the basement. The design incorporates a shared lobby area with two separate waiting rooms, ensuring patient privacy and a smooth workflow. Each tenant enjoys the benefit of a private entrance, enhancing both security and convenience. This property's strategic location and well-designed interior make it an ideal setting for a variety of medical practices seeking to establish or expand their presence in a thriving community. The readily available square footage offers significant potential for customization and adaptation to meet specific operational needs. Interested parties are encouraged to inquire further to explore this exceptional leasing opportunity. The property is classified as an office building with a medical office subtype.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    South Grove Eye ... Physician First American Title ... Title Company Fidelity National Title Title Company Kidd Pediatric: Kidd ... Pediatrician Kidd Pediatrics Pediatrician

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood
    County
    Johnson
    State
    Indiana
    Longitude
    -86.1617353
    Latitude
    39.6188786

    Nearby Similar for Lease

    • New
      $6,500 /Mo
      Pending

      Downtown Greenwood Retail Space Available

      Charming 4,500+ SF storefront in the heart of Greenwood.
      220 W Main St, Greenwood, IN 46142
      View Details
    • $2,000 /Mo
      1,600 SF

      Greenwood Office Space For Lease

      Office suite with reception, offices, restroom, kitchenette, and co-working space.
      1688 Stonegate Dr, Greenwood, IN 46142
      View Details
    • $2,500 /Mo
      1,472 SF

      Greenwood Office Space For Lease

      Private office space in Greenwood with high visibility and signage.
      1185 W County Line Rd, Greenwood, IN 46142
      View Details
    • $650 /Mo
      20,529 SF

      Greenwood Office Suites For Lease

      Professional office suites in the Center Grove Business District.
      1700 W Smith Valley Rd, Greenwood, IN 46142
      View Details
    • $2,500 /Mo
      5,724 SF

      Downtown Greenwood Office Space Available

      1500 SF office suite in vibrant downtown Greenwood.
      165 S Madison Ave, Greenwood, IN 46142
      View Details
    • $3,250 /Mo
      5,724 SF

      Greenwood Office Space For Rent

      1,500 SF office suite in vibrant downtown Greenwood.
      165 S Madison Ave, Greenwood, IN 46142
      View Details
    • $5,287 /Mo
      6,330 SF

      Move-in Ready Greenwood Office Suite

      Plug-and-play office space in premier Greenwood location.
      373 Meridian Parke Ln, Greenwood, IN 46142
      View Details
    • $2,500 /Mo
      6,140 SF

      Greenwood Office Space For Lease

      Office space with private offices, workstations, and conference room.
      386 Meridian Parke Ln, Greenwood, IN 46142
      View Details
    • $3,821 /Mo
      16,206 SF

      Greenwood Office Space For Lease

      Functional office suite with utilities included in Greenwood, Indiana.
      2020 S State Road 135, Greenwood, IN 46143
      View Details
    • $2,373 /Mo
      12,488 SF

      Professional Office Space Available

      Professional office suite with private offices, reception area, and kitchenette.
      435 E Main St, Greenwood, IN 46143
      View Details
    • $1,428 /Mo
      18,624 SF

      Historic Office Building in Greenwood

      Iconic office building in the heart of Old Town Greenwood.
      435 E Main St, Greenwood, IN 46143
      View Details
    • $4,500 /Mo
      2,250 SF

      Turnkey Office Building in Greenwood

      Versatile commercial building with private offices, reception, and conference room.
      1506 W Smith Valley Rd, Greenwood, IN 46142
      View Details

    FAQs

    What type of property is this?
    Medical office - Prime Medical Office: 5,864 SF Available
    Where is this medical office located?
    The property is located at 373 Meridian Parke Ln Greenwood, IN.
    What are key features of this property?
    This property features: Medical office building in Greenwood, IN, Johnson County.; Multiple tenancy with 5,864 square feet currently vacant.; Features 13 exam rooms, 2 nurses' stations, 4 physician offices, breakroom, large file room/reception area, basement storage, and shared lobby with 2 waiting rooms and private entrances.
    (574) 237-6000 Call to check price and availability
    Request Owner's contact information
    373 Meridian Parke Ln Greenwood, IN 46142
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    373 Meridian Parke Ln
    Greenwood, IN 46142
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    373 Meridian Parke Ln Greenwood, IN 46142
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bill Mcclamroch
    Bill Mcclamroch
    (574) 237-6000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!