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    Property profile & analytics

    14745 Commerce Rd Daleville, IN 47334-9513

    • Medical offices
    • 5,856 SF
    • 2.34 lot acres
    OFF-MARKET
    Last Sale
    Jan 30, 2025
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0455804
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Optum Primary Care - Daleville / Medical Clinic
    • Caleb R Overpeck, MD / Family Practice Physician
    • Allison Goetz, DO / Family Practice Physician
    • Rebecca Phipps, NP / Family Practice Physician
    • Timm Timm / Family Practice Physician / Health Care Facility

    Property Details for 14745 Commerce Rd

    Year built
    2019
    Construction
    WOOD
    Lot size
    2.34 lot acres
    Property size
    5,856 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    18-13-12-400-048.000-026
    APU
    181312400048000026

    Description

    This 6,000 square foot, free-standing medical office building is located at 14745 W Commerce Rd, Daleville, IN 47334. Built in 2019 as a build-to-suit project for American Health Network, a wholly-owned subsidiary of Optum, this property offers a 15-year net lease with approximately 10 years remaining. The asking price is $2,400,000, and the current Net Operating Income (NOI) is $179,916 annually. The property sits on a 2.34-acre lot and is ideally suited for a 1031 exchange. The existing financing features a highly attractive 3.25% fixed rate and is assumable. This investment presents a rare opportunity to acquire a stable, net-leased medical office building with a credit tenant and significant remaining lease term. The property boasts 100% occupancy and is situated in Delaware County, Indiana.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $560,000
      Market price range: $227k - $565k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $400,000
      Current use
      RESTAURANT
      $545,000
      Change: +36% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $525,000
      Change: +32% Conversion: Difficult
      RETAIL STORES
      $480,000
      Change: +21% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $390,000
      Change: -3% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Daleville
    County
    Delaware
    State
    Indiana
    Longitude
    -85.5607
    Latitude
    40.1125
    CBSA code
    34620
    CBSA name
    MUNCIE, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $20,430
    $117,200
    $577,000
    $694,200
    -
    $117,200
    $577,000
    $694,200

    Comparable in this City

    • Value Estimation by Request
      13,428 SF

      9100 County Rd 800th W

      MEDICAL BUILDING • 13,428 SF
      9100 County Rd 800th W, Daleville, IN 47334-8934
      View Details
    • Value Estimation by Request
      1,440 SF

      12690 County Rd 550th S

      OFFICE (GENERAL) • 1,440 SF
      12690 County Rd 550th S, Daleville, IN 47334-9716
      View Details
    • Value Estimation
      $980,000
      14,640 SF

      9401 Innovation Dr

      OFFICE (GENERAL) • 14,640 SF
      9401 Innovation Dr, Daleville, IN 47334-9394
      View Details
    • Value Estimation
      $3,515,000
      84,701 SF

      8400 Bronco Dr

      OFFICE (GENERAL) • 84,701 SF
      8400 Bronco Dr, Daleville, IN 47334-9650
      View Details
    • Value Estimation by Request
      63,000 SF

      14611 Commerce Dr

      Office Properties & Spaces • 63,000 SF
      14611 Commerce Dr, Daleville, IN 47334
      View Details
    • Value Estimation
      $3,525,000
      55,106 SF

      9401 Innovation Dr

      OFFICE (GENERAL) • 55,106 SF
      9401 Innovation Dr, Daleville, IN 47334-9394
      View Details

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    Similar Nearby for Lease

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    • $25,000
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      Truck Maintenance Facility Near I-69

      Well-equipped truck maintenance facility with excellent access and functionality.
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    14745 Commerce Rd
    Daleville, IN 47334-9513
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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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