Single-Level Medical Office
New
For Sale
$1,100,000
925 Hendricks Dr, Lebanon, IN 46052
Reception and conference areas complement a single-story layout with updated interior finishes and a fenced outdoor area.
Property Size6,303 SF
Lot Size1.00 Acre
Price / SF$174.52
Days on Market3
Property Features for 925 Hendricks Dr
General Information
Standard status
Active
Size
6,303 SF
Lot size
1.00 Acre
Property subtype
Commercial
Additional Details
Condition
Move-in Ready
Highway Access
Yes
Property Use
Office
Amenities
conference room
reception area
fully fenced yard
Building Details
Year Built
1993
Buildings
1
Stories
1
Listing Agency:
Weichert Realtors Cooper Group Indy
Listed By:
Streamlined Realty
(317) 721-2274
Source:
Streamlinedrealty
Added: Nov 4
Last Checked: Nov 4 at 2:45PM
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 Weichert Realtors Cooper Group Indy
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Investment Insights
Based on property information with market context.
This 6,303-square-foot medical office property occupies a 1-acre lot and was built in 1993. Its single-level plan includes an entry and reception area, a conference room, and new flooring throughout. The building previously served as a daycare and autism services center. Improvements include two HVAC systems, upgraded electrical service, and a newer roof; the grounds are fully fenced, with a concrete parking lot accommodating 22+ vehicles.
The property is in Lebanon, approximately one mile from I-65. The combination of a single-story layout, reception and conference spaces, and a fenced yard defines the building’s physical configuration.
The property is in Lebanon, approximately one mile from I-65. The combination of a single-story layout, reception and conference spaces, and a fenced yard defines the building’s physical configuration.
Key Highlights
- 6,303‑square‑foot medical office building on a 1‑acre lot
- Single‑level building constructed in 1993
- Concrete parking area accommodates 22+ vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,741
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,874,820
$1.9M
Cap Rate 7%
$1,339,157
$1.3M
Cap Rate 9%
$1,041,567
$1.0M
Market Conditions
NOI Build-Up for 6,303 SF
Gross rent
$138.4K $21.96/SF
− Vacancy
−$13.4K −$2.13/SF
EGI
$125.0K $19.83/SF
− OpEx
−$31.2K −$4.96/SF
NOI
$93.7K $14.87/SF
Area
Boone County, IN
Vacancy
9.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,874,820
Cap Rate 7%
$1,339,157
Cap Rate 9%
$1,041,567
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.56M
NOI $93,741 @ 7.0% cap · market cap 8.52%
Second Best
Healthcare Medical
$297.6K
$260.4K – $347.2K
NOI $20,830 @ 7.0% cap · market cap 1.89%
Theoretical Best
Warehouse
$5.08M
$4.44M – $5.92M
NOI $355,270 @ 7.0% cap · market cap 32.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46052, IN
22,783
Population
9,935
Households
2.3
Avg Household Size
41
Median Age
26%
College-Educated
90%
High-School Grad
177.6 sq mi
ZIP Area
128
Density / Sq Mi
$66,828
Median Household Income
$43,933
Median Earnings
$911
Median Rent
$200,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Lebanon Veterinary Clinic Inc — 1205 Indianapolis Ave, Lebanon, IN 46052
Frequently Asked Questions
What type of property is this?
Medical Office Space - Reception and conference areas complement a single-story layout with updated interior finishes and a fenced outdoor area.
Where is this medical office space located?
The property is located at 925 Hendricks Dr Lebanon, IN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6,303‑square‑foot medical office building on a 1‑acre lot; Single‑level building constructed in 1993; Concrete parking area accommodates 22+ vehicles
