Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1040 Greenwood Springs Blvd Greenwood, IN 46143
    Back to Search
    Property profile & analytics

    1040 Greenwood Springs Blvd, Greenwood, IN 46143

    View on Map
    • Office Spaces
    • 18,174 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pulmonary & Sleep Specialists: Kinsella, Charles, MD, FCCP / Physician
    • Franciscan Physician Network Pulmonary & Sleep Specialists Greenwood / Medical Clinic
    • Jan Wissel / Physician

    Property Details for 1040 Greenwood Springs Blvd

    Year built
    2006
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood
    County
    Johnson
    State
    Indiana
    Longitude
    -86.0806
    Latitude
    39.6288

    Comparable in this City

    • Value Estimation by Request
      86,806 SF

      140 Park Blvd

      Medical Office Space
      140 Park Blvd, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      28,800 SF

      905 Emerson Ave

      Medical Office Space
      905 Emerson Ave, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      39,715 SF

      45 Park Blvd

      Medical Office Space
      45 Park Blvd, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      12,293 SF

      1000 Us 31

      Medical Office Space
      1000 Us 31, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      5,180 SF

      900 Averitt Rd

      MEDICAL BUILDING
      900 Averitt Rd, Greenwood, IN 46143-9540
      View Details
    • Value Estimation by Request
      13,080 SF

      30 Emerson Ave

      MEDICAL BUILDING
      30 Emerson Ave, Greenwood, IN 46143-8895
      View Details

    Similar Nearby for Sale

    • $2,350,000
      Pending

      Greenwood Commercial Property on US-31

      Combination medical office and retail space in high-growth Greenwood, Indiana.
      1000 Us Highway 31 S, Greenwood, IN 46143
      View Details
    • Contact for pricing
      12,293 SF

      Medical/Retail Space Near New Development

      Highly visible medical/retail space near Greenwood's new $83M development.
      1000 Us Highway 31 S, Greenwood, IN 46143
      View Details
    • $1,950,000
      1,506 SF

      Greenwood Office Building, 4.19 Acres

      Prime Greenwood location, large office space, high visibility.
      3601 State Road 135, Greenwood, IN 46143
      View Details
    • $645,000
      0.89 Acres

      Greenwood Office Building - High Visibility

      Prime Greenwood location, tenant-occupied office.
      1764 Stones Crossing Rd, Greenwood, IN 46143
      View Details
    • $695,000
      3,440 SF

      Greenwood Office Building For Sale

      3,440 SF office building on 0.32 acres in Greenwood, IN.
      200 North Emerson Ave, Greenwood, IN 46143
      View Details
    • Contact for pricing
      6,000 SF

      Warehouse/Office with Tax Abatement

      6,000 SF warehouse/office with HVAC and tax abatement.
      1257 Airport Pkwy, Greenwood, IN 46143
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,818 SF

      New Construction Medical/Office Space

      New construction medical/office space available for lease.
      894 Airport Pkwy, Greenwood, IN 46143
      View Details
    • Contact for pricing

      New Construction Medical Office Space

      New medical office space, divisible, near hospitals and retail.
      905 N Emerson Ave, Greenwood, IN 46143
      View Details
    • Contact for pricing
      2,456 SF

      Medical Office Space Available

      Medical office space with convenient access and ample parking.
      701 E County Line Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing
      3,376 SF

      Greenwood Medical Office Sublease Available

      Medical office sublease in Greenwood, Indiana, near major hospitals.
      533 E County Line Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing

      Greenwood Office Space For Rent

      Office space for rent with ample parking and signage.
      549 E County Line Rd, Greenwood, IN 46143
      View Details
    Request Owner's contact information
    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.
    1040 Greenwood Springs Blvd
    Greenwood, IN 46143
    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
    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

    Thank You for Inquiry
    1040 Greenwood Springs Blvd, Greenwood, IN, 46143
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!