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    1700 Smith Valley Rd Greenwood, IN 46142

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    For Lease
    Contact for pricing

    Two suites available, 418-1336 sq ft.

    Lot size:
    6,524 SF

    Property Features for 1700 Smith Valley Rd

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,524 SF
    Class
    B
    Total Rate
    7611.33

    Building Details

    Year Built
    1995
    Stories
    2

    Spaces For Lease

    at 1700 Smith Valley Rd, Greenwood, IN 46142 Contact us
    Unit Suite A3

    $19 /Mo

    Size
    1,336 SF
    Contact us
    Unit Suite A2

    $180 /Mo

    Size
    1,315 SF
    Contact us

    We can help!

    Listing Contact
    Teresa Harwood
    Teresa Harwood

    Listing Agency: Keller Williams Indy Metro S Listing Agent: Teresa Harwood

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

    Learn more

    Property Insight Report

    Overview

    This Greenwood, Indiana office building at 1700 W Smith Valley Rd (Smith Valley Road and State Road 135) offers two available suites totaling 6,524 square feet. The building, constructed in 1995, is a Class B, two-story structure with multiple tenants and CM zoning. Currently, two suites are available for lease, ranging from 418 to 1,336 square feet. One option, located on the lower level (no elevator access), offers a tranquil setting with five private offices, ideal for focused work. This space can be subdivided to suit various needs, ranging from 127 to 1463 square feet. The property's prime location at the busy intersection of State Road 135 and Smith Valley Road in the Center Grove business area provides excellent visibility and accessibility. The building is categorized as both Traditional Office and Medical Office space, making it suitable for a variety of businesses. The zip code is 46142.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Michelle Luallen Foster Care Service Serenity Counseling, Coaching, ... Counselor Sullivan Law Office ... Law Firm Lambert Orthodontics Dental Office Prime Lending Loan Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood
    County
    Johnson
    State
    Indiana
    Longitude
    -86.158029806425
    Latitude
    39.606144962392

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    FAQs

    What type of property is this?
    Medical Office Space - Two suites available, 418-1336 sq ft.
    Where is this medical office space located?
    The property is located at 1700 Smith Valley Rd Greenwood, IN.
    What is the lease rate?
    The lease rate is $19-$180 SF/Yr.
    What are key features of this property?
    This property features: Lower-level office suite available.; Flexible suite sizes from 127 to 1,463 square feet.; Suite features five private offices.
    (317) 882-5900 Call to check price and availability
    Request Owner's contact information
    1700 Smith Valley Rd Greenwood, IN 46142
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    Greenwood, IN 46142
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    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
    1700 Smith Valley Rd Greenwood, IN 46142
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    Contact for Pricing
    Please call us for current price
    and status of this listing Teresa Harwood
    Teresa Harwood
    Real Estate License ID: RB14039040
    (317) 882-5900 (317) 883-7010 (317) 455-8111
    Learn more
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