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    Property profile & analytics

    730 Patricks Pl Brownsburg, IN 46112

    • Office Properties & Spaces
    • 9,242 SF
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 730 Patricks Pl

    Year built
    2023
    Property size
    9,242 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    Aspen Suites, a Class A medical office building, offers 9,242 square feet of prime space in Brownsburg, Indiana. Constructed in 2023 using Insulated Concrete Forms (ICF), this state-of-the-art facility boasts superior energy efficiency, durability, and safety. The building's design prioritizes sustainability, making it an attractive option for environmentally conscious businesses. Located at 730 Patricks Pl, Brownsburg, IN 46112, Aspen Suites enjoys convenient access to I-74, providing seamless connectivity to the broader Indianapolis metro area. This strategic location within the thriving Brownsburg community offers excellent visibility and accessibility to both local and regional clients. Currently, two suites are available for lease, presenting an ideal opportunity for medical professionals to join an existing tenant within this modern facility. Furthermore, the entire 9,242 square foot building is also available for purchase, representing a unique investment opportunity in a cutting-edge, eco-friendly property that exemplifies innovative architectural engineering. This property is a testament to a commitment to pushing the boundaries of contemporary construction methods, offering a superior workspace in a rapidly expanding market. The building's modern design and prime location make it an exceptional choice for businesses seeking a high-quality, sustainable, and conveniently located office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brownsburg
    County
    Hendricks
    State
    Indiana
    Longitude
    -86.382
    Latitude
    39.8541

    Comparable in this City

    • Value Estimation by Request
      6,000 SF

      1040 Patricks Pl

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    • Value Estimation by Request
      9,242 SF

      730 Patricks Pl

      Medical offices • 9,242 SF
      730 Patricks Pl, Brownsburg, IN 46112
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    • Value Estimation by Request

      Hornaday Rd

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    • Value Estimation
      $1,270,000
      11,464 SF

      4695 Northfield Dr

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    • Value Estimation
      $2,825,000
      16,692 SF

      597 Pit Rd

      MEDICAL BUILDING • 16,692 SF
      597 Pit Rd, Brownsburg, IN 46112-7831
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    • Value Estimation by Request
      5,102 SF

      90 Hornaday Rd

      MEDICAL BUILDING • 5,102 SF
      90 Hornaday Rd, Brownsburg, IN 46112-1450
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,242 SF

      Aspen Suites Medical Office

      Modern Brownsburg medical office space for lease or sale
      730 Patricks Pl, Brownsburg, IN 46112
      View Details
    • $875,000

      Brownsburg Commercial Property For Sale

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    • $949,000
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      Brownsburg Office Complex - I-74 Access

      Two-building office space, prime location, high visibility.
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    • $499,000
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      35 Grant St, Brownsburg, IN 46112

      Commercial real estate • 3,135 SF
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    Similar Nearby for Lease

    • $6 SF/Yr
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      Brownsburg Office Space Available

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      38,252 SF

      Brownsburg Medical Office Building

      Fully equipped, 38,252 SF medical facility.
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      48,000 SF

      Brownsburg Commercial Development Opportunity

      Prime Brownsburg location, flexible space, high growth area.
      0 Hornaday Rd, Brownsburg, IN 46112
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    • Contact for pricing
      9,242 SF

      Aspen Suites Medical Office

      Brownsburg, IN: Class A medical office space
      730 Patricks Pl, Brownsburg, IN 46112
      View Details
    • Contact for pricing
      1,650 SF

      Medical Space Available in Brownsburg

      1,650 SF medical space for lease in Brownsburg, IN.
      1040 Patrick Pl, Brownsburg, IN 46112
      View Details
    • $12 SF/Yr
      8,084 SF

      Brownsburg Office Space for Lease

      8,084 sq ft Single-Tenant Office in Brownsburg, IN
      8930 Motorsports Way, Brownsburg, IN 46112
      View Details
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    Brownsburg, IN 46112
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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
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