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Property profile & analytics
FOR LEASE
Medical Office Space
18051 River Rd, Noblesville, IN 46062
Individually Owned
13-yr Hold
~
Est. High Equity
Property ID
US31-0378456
For Lease
1 / 3
$3,600,000
18051 River Rd, Noblesville, IN 46062
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2002
Construction
TYPE NOT SPECIFIED
Total area
41,016 SF
Lot
3.64 ac (158,558 SF)
APN
29-06-36-001-001.000-013
UPID
US31-0378456
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
-
Shannon Adcock, DPT Physician
-
Dr. Shan L. Cheng, M.D. Medical Clinic
-
Dr. David Brown, M.D. Physician
-
Dr. Ernest Orinion, M.D. Physician
-
William A. Kirsch, MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.03M
Comparable Approach
Comparable
$3.17M
Blend (final)
Blend
$3.60M
Owner & transaction history
Robert N Whitacre · 13 yrs held
Robert N Whitacre
since 2013
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.9M
+64.6%
Auto repair, garage
$4.0M
+12.3%
Retail stores
$4.0M
+10.4%
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 Noblesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Noblesville 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
by Request
CAP Approach
CAP Return
Estimation
6%
$4,360,000
6.5%
$4,025,000
7%
$3,740,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,590,000
Current use
COMMERCIAL (GENERAL)
$5,910,000
Change: +65% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,030,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$3,965,000
Change: +10% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,650,000
Change: +2% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,930,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$3.60M
Range $3.24M – $3.96M · ±10%
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
$88 / 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
$134,400
Tax year 2023
Assessed value
$4,973,900
Assessed 2023
Previous assessed
$4,973,900
+0.0% YoY
Effective rate
2.70%
On assessed value
Assessed land
$910,000
Assessed improvement
$4,063,900
Land market value
$910,000
Improvement market value
$4,063,900
Total market value
$4,973,900
Applied tax rate
13.0000
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
2002
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
41,016 SF
Lot
3.64 ac (158,558 SF)
APN
29-06-36-001-001.000-013
UPID
US31-0378456
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
MEDICAL BUILDING Current
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$5.9M
AUTO REPAIR, GARAGE
Est. value
$4.0M
RETAIL STORES
Est. value
$4.0M
WAREHOUSE, STORAGE
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$2.9M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
2002
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
3.64 ac
Current owner
From public records · entity-resolved
Robert N Whitacre
Individual
Mailing address
PO BOX 847, CARLSBAD, CA 92018-0847
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2019
—
Ga Hc Reit Il Noblesville Mob
—
Grant Deed
related
$1,025,000,000 · Citi R/e Fndg INC
May 7, 2013
—
Robert N Whitacre
Noblesville Medical Arts
Grant Deed
—
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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