Turnkey Medical Office
9725 Prairie Avenue Highland, IN 46322
For Sale
$429,000
Turnkey medical office condo with nine exam rooms, a reception and waiting area, private office, and kitchenette.
Property Size2,784 SF
Price / SF$154.09
Days on Market72
Property Features for 9725 Prairie Avenue
General Information
- Standard status
- Active
- Size
- 2,784 SF
- Property subtype
- Office
Listing Agency:
Latitude Commercial
(219) 218-8200
Listed By:
Chandler Kimmel · License #IN #RB22001170
(219) 218-8200
Source:
Latitudeco
Added: May 14
Changed: Jul 23
Last Checked: Jul 24 at 5:22AM
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 Latitude Commercial
Investment Insights
Based on property information with market context.
Turnkey 2,784 square foot medical office condo previously used as a doctor’s office. The space includes nine exam rooms, a spacious reception area, a large waiting area, and a private office. Two restrooms are available, along with a kitchenette.
The property is located on Prairie Avenue in Highland, IN, and offers ample parking. Pylon signage is also an option just off of 45th Street.
This office condo is presented as ready for sale for medical users seeking an established exam-room layout in the Highland market.
The property is located on Prairie Avenue in Highland, IN, and offers ample parking. Pylon signage is also an option just off of 45th Street.
This office condo is presented as ready for sale for medical users seeking an established exam-room layout in the Highland market.
Key Highlights
- 2,784 SF medical office condo in Highland, previously used as a doctor’s office
- 9 exam rooms plus a spacious reception and large waiting area
- Includes 2 restrooms and 1 private office
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.8k | $16.80 |
| − Vacancy | −$4.7k | −$1.68 |
| EGI | $42.1k | $15.12 |
| − OpEx | −$16.8k | −$6.05 |
| NOI | $25.3k | $9.07 |
2,784 SF · lease $16.80/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$360.8K
$315.7K – $420.9K
NOI $25,256 @ 7.0% cap · market cap 5.89%
Second Best
Office B
$360.8K
$315.7K – $420.9K
NOI $25,256 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$492.5K
$431.0K – $574.6K
NOI $34,477 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar Off Market Nearby
- Highland Animal Hospital — 9308 Indianapolis Blvd, Highland, IN 46322
- DeGraaf a F DVM — 9308 indianapolis blvd, highland, in 46322
- De Graaf Anne F DVM — 9308 Indianapolis Blvd, Highland, IN 46322
- Emergency Veterinary Care Centers — Ultra Highland Plza, 8501 Indianapolis Blvd, Highland, IN 46322
- North Central Veterinary Clinic — 2425 Ridge Rd, Highland, IN 46322
FAQs
What type of property is this?
Medical Office Space - Turnkey medical office condo with nine exam rooms, a reception and waiting area, private office, and kitchenette.
Where is this medical office space located?
The property is located at 9725 Prairie Avenue Highland, IN.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 2,784 SF medical office condo in Highland, previously used as a doctor’s office; 9 exam rooms plus a spacious reception and large waiting area; Includes 2 restrooms and 1 private office
