Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    2235 Main St Highland, IN 46322

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2235 Main St Highland, IN 46322

    View on Map
    • Office properties & Spaces
    • 25,000 SF
    • 9.12 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 2235 Main St

    Year built
    2019
    Lot size
    9.12 lot acres
    Property size
    25,000 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    The Cardinal Campus, located at 2235 Main St, Highland, IN 46322, presents a unique investment opportunity in a thriving medical office market. This prestigious Class A property, built in 2019, boasts 25,000 square feet across nine two-story buildings situated on 9.12 acres. The campus features a minimum divisible space of 1,900 square feet and allows for up to 25,000 contiguous square feet. Currently housing a diverse range of tenants including veterinary, orthopedic, and medical specialists, as well as legal professionals, this PUD-zoned development offers significant potential for growth. The Cardinal Campus is a Platinum LEED-certified neighborhood, showcasing sustainable features such as biowells, solar panels offsetting common area electricity, and attractive landscaping. The property's design incorporates beautiful brick paver streets, gardens, and walking paths, creating a unique and appealing environment. The campus is conveniently located near Indianapolis Blvd and is part of a larger planned development with nearly 200,000 square feet of future expansion. This exceptional property offers a blend of modern amenities, sustainable practices, and a prime location within a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Highland
    County
    Lake
    State
    Indiana
    Longitude
    -87.4743
    Latitude
    41.5235

    Comparable in this City

    • Value Estimation by Request
      18,484 SF

      3100 45Th St

      Medical Office Space • 18,484 SF
      3100 45Th St, Highland, IN 46322
      View Details
    • Value Estimation
      $765,000
      18,484 SF

      3104 45th St

      MEDICAL BUILDING • 18,484 SF
      3104 45th St, Highland, IN 46322
      View Details
    • Value Estimation by Request
      9,051 SF

      3641 Rdg Rd

      MEDICAL BUILDING • 9,051 SF
      3641 Rdg Rd, Highland, IN 46322-2080
      View Details
    • Value Estimation by Request
      9,051 SF

      3641 Rdg Rd

      MEDICAL BUILDING • 9,051 SF
      3641 Rdg Rd, Highland, IN 46322-2080
      View Details
    • Value Estimation by Request
      6,096 SF

      3445 Rdg Rd, Unit 49

      MEDICAL BUILDING • 6,096 SF
      3445 Rdg Rd, Highland, IN 46322-2049
      View Details
    • Value Estimation by Request
      3,088 SF

      2940 Hwy Ave

      MEDICAL BUILDING • 3,088 SF
      2940 Hwy Ave, Highland, IN 46322-1631
      View Details

    Similar Nearby for Sale

    • $1,650,000

      Highland, IN Office/Medical Building

      18,484 SF office building with medical and professional suites.
      3100 45 St, Highland, IN 46322
      View Details
    • $1,100,000
      4,472 SF

      Professional Brick Building with Leases

      All brick professional building with long-term tenants and ample parking.
      2327 45 St, Highland, IN 46322
      View Details
    • Contact for pricing
      18,484 SF

      Highland Office/Medical Building For Sale

      Well-maintained 18,484 SF office/medical building in Highland, Indiana.
      3100 45 St, Highland, IN 46322
      View Details
    • $1,100,000
      4,472 SF

      Professional Brick Building For Sale

      Well-built commercial building with long-term tenant and investment opportunity.
      2327 45 St, Highland, IN 46322
      View Details
    • Contact for pricing

      Professional Office Space in Highland

      Turnkey office space for lease with utilities included.
      9635 Saric Ct, Highland, IN 46322
      View Details
    • $199,900

      Professional Office Space For Sale

      Office space with full basement and excellent street exposure.
      2636 45 St, Highland, IN 46322
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Highland Office Suites For Lease

      Individual office suites for lease in Highland, Indiana.
      9013 Indianapolis Blvd, Highland, IN 46322
      View Details
    • Contact for pricing

      Turnkey Office Space Available

      Professional office spaces for rent in Highland, Indiana.
      9801 Prairie Ave, Highland, IN 46322
      View Details
    • $400 /Mo
      250 SF

      Highland Office Space For Rent

      First floor office space available in Highland, Indiana.
      2550 Industrial Dr, Highland, IN 46322
      View Details
    • Contact for pricing

      Turnkey Medical Office Space Available

      Medical and professional office space for lease in Highland, Indiana.
      3100 45 St, Highland, IN 46322
      View Details
    • Contact for pricing
      2,600 SF

      Professional Office or Retail Space

      Built-out office/retail space with dedicated parking and high traffic.
      2203 45 St, Highland, IN 46322
      View Details
    • Contact for pricing

      Renovated Office Space Available

      Turnkey office space with flexible leasing options near expressway.
      9143 Indianapolis Blvd, Highland, IN 46322
      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.
    2235 Main St
    Highland, IN 46322
    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
    2235 Main St, Highland, IN, 46322
    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!