Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    698 Oldfield Cmns Dr Greenwood, IN 46142

    • Office Properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 698 Oldfield Cmns Dr

    Property type
    Office Properties & Spaces

    Description

    This Greenwood, Indiana office building, located at 698 Oldfield Commons Dr, offers multiple suites for lease. The property, situated conveniently off Smith Valley Road, features a mix of traditional and executive office spaces. Currently, 650 square feet are immediately available, with additional space potentially available up to a total of 950 square feet. The two-story building is professionally managed and boasts a diverse tenant base. The building does not have elevators. Utilities, excluding phone and internet, are included in the rental rate. A significant advantage is the 24/7 building access, providing flexibility for tenants. Trash removal is also a covered service. The property's address is 698 Oldfield Commons Dr, Greenwood, IN 46142, and is located in the Smith Valley Road submarket, offering easy access to Smith Valley Road and other key transportation routes. This is an excellent opportunity for businesses seeking a well-maintained and conveniently located office space in a thriving Greenwood community.

    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
    -86.1374
    Latitude
    39.6067

    Comparable in this City

    • Value Estimation
      $545,000
      6,140 SF

      386 Meridian Parke Ln

      OFFICE (GENERAL) • 6,140 SF
      386 Meridian Parke Ln, Greenwood, IN 46142-9410
      View Details
    • Value Estimation
      $825,000
      8,318 SF

      374 Meridian Parke Ln

      OFFICE (GENERAL) • 8,318 SF
      374 Meridian Parke Ln, Greenwood, IN 46142-9406
      View Details
    • Value Estimation
      $4,095,000
      51,840 SF

      107 State Rd 135

      OFFICE (GENERAL) • 51,840 SF
      107 State Rd 135, Greenwood, IN 46142-1351
      View Details
    • Value Estimation
      $585,000
      6,364 SF

      400 Camby Ct

      OFFICE (GENERAL) • 6,364 SF
      400 Camby Ct, Greenwood, IN 46142-4065
      View Details
    • Value Estimation
      $1,155,000
      13,612 SF

      1648 Fry Rd

      OFFICE (GENERAL) • 13,612 SF
      1648 Fry Rd, Greenwood, IN 46142-1113
      View Details
    • Value Estimation
      $670,000
      7,000 SF

      1298 Main St

      OFFICE (GENERAL) • 7,000 SF
      1298 Main St, Greenwood, IN 46142-1926
      View Details

    Similar Nearby for Sale

    • $400,000
      0.89 Acres

      Greenwood Commercial Land Investment

      Two parcels, high-traffic location, development potential.
      1655 County Line Rd, Greenwood, IN 46142
      View Details
    • $998,500
      1.97 Acres

      Center Grove Commercial Land

      High-traffic retail/mixed-use lots
      3124 Smith Valley Rd, Greenwood, IN 46142
      View Details
    • $399,900
      54,886 SF

      Greenwood Office Building - 54,886 SF

      Prime Greenwood location, 1.26 acres, excellent office space.
      1260 Lincoln Park Blvd, Greenwood, IN 46142
      View Details
    • New
      $825,000
      Pending

      Greenwood Office Building For Sale

      5,453 SF office building with multi-tenant potential in Greenwood.
      918 Fry Rd, Greenwood, IN 46142
      View Details
    • $775,000
      4,400 SF

      Prime Commercial Opportunity in Greenwood

      4400 SF building on nearly an acre of land.
      4978 W Smith Valley Rd, Greenwood, IN 46142
      View Details
    • $2,200,000
      2.70 Acres

      Prime Greenwood Commercial Land

      2.7 Acres, C-2 Zoning, $2.2M
      3110 Smith Valley Rd, Greenwood, IN 46142
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      18,000 SF

      Greenwood Office Space Available

      Historic building, flexible spaces, prime location.
      2 Madison Ave, Greenwood, IN 46142
      View Details
    • $22 SF/Yr
      38,000 SF

      Greenwood Medical Office Space

      Prime Greenwood location, multiple suites available.
      0 County Line Rd, Greenwood, IN 46142
      View Details
    • $14 SF/Yr
      6,524 SF

      Greenwood Office Space for Lease

      Two suites available, 418-1336 sq ft.
      1700 Smith Valley Rd, 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
    • $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
    • Contact for pricing
      5,864 SF

      Greenwood Medical Office Space for Lease

      Prime Medical Office: 5,864 SF Available
      373 Meridian Parke Ln, Greenwood, IN 46142
      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.
    698 Oldfield Cmns Dr
    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
    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

    Google sign-in failed. Please try again or use another login method.