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Property profile & analytics
FOR LEASE
Medical Office Space
10801 N Michigan Rd Zionsville, IN 46077
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0563098
For Lease
1 / 2
$9,575,000
10801 N Michigan Rd, Zionsville, IN 46077
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
TYPE NOT SPECIFIED
Total area
41,168 SF
Lot
3.74 ac (162,914 SF)
APN
29-13-06-000-028.103-018
UPID
US31-0563098
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
John Jeffrey Hockema, DDS Dental Office
-
John J Schier, DDS Dental Office
-
Elizabeth R. Grethen, MD Physician
-
Min M. Wang, NP Physician
-
St Vincent Physician Network: Grogg Jeremy R MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.95M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.58M
Owner & transaction history
Michigan Road Mob LLC · 5 yrs held
Michigan Road Mob LLC
since 2020
Last sale
$10.4M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.5M
+195.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Zionsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Zionsville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$12,945,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$6,535,000
Change: +196% · Conversion: Difficult
Blend value · Realmo final
$9.58M
Range $8.62M – $10.53M · ±10% · vs last sale $10.40M (Nov 4 2020)
Last sale anchor
$10.40M
Nov 4 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$233 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$129,155
Tax year 2023
Assessed value
$6,405,500
Assessed 2023
Previous assessed
$6,405,500
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,522,100
Assessed improvement
$4,883,400
Land market value
$1,522,100
Improvement market value
$4,883,400
Total market value
$6,405,500
Applied tax rate
18.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2005
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
2
Total area
41,168 SF
Lot
3.74 ac (162,914 SF)
APN
29-13-06-000-028.103-018
UPID
US31-0563098
Jurisdiction
HAMILTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$6.5M
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
2
Lot
3.74 ac
Current owner
From public records · entity-resolved
Michigan Road Mob LLC
Entity
Mailing address
1920 MAIN ST STE #1200, IRVINE, CA 92614-7230
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2020
$10,400,000
Michigan Road Mob LLC
Hart Healthcare Atr LLC
Grant Deed
—
Feb 21, 2018
$9,380,000
Hart Healthcare Atr LLC
Pht St Vincent LLC
Warranty Deed
—
Jun 6, 2011
—
Pht St Vincent LLC
—
Deed Of Trust
related
$55,739,000 · Miscellaneous Ins Co
Oct 24, 2005
—
Pht St Vincent LLC
Bd Michigan Road Dev LLC
Grant Deed
$5,300,000 · Principal Life Insurance Co
—
—
Pht St Vincent LLC
—
Deed Of Trust
related
$5,000,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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