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Property profile & analytics
OFF-MARKET
Medical Office Space
2202 Morris St Indianapolis, IN 46221-1404
Entity Owned
Free & Clear
Property ID
US31-0326692
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1934
Construction
TYPE NOT SPECIFIED
Total area
6,815 SF
Lot
0.13 ac (5,550 SF)
Zoning code
ZO01
APN
49-11-09-111-001.000-901
UPID
US31-0326692
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
-
William Vanosdol Pediatrician Medical Clinic
-
Dr. Richard J. Reifenberg, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ret Holdings II LLC
Ret Holdings II LLC
since 2026
7 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
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 Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,603
Tax year 2023
Assessed value
$203,400
Assessed 2023
Previous assessed
$203,400
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$18,300
Assessed improvement
$185,100
Land market value
$18,300
Improvement market value
$185,100
Total market value
$203,400
Applied tax rate
901.0000
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
Off-Market
Year built
1934
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Total area
6,815 SF
Lot
0.13 ac (5,550 SF)
Zoning code
ZO01
APN
49-11-09-111-001.000-901
UPID
US31-0326692
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, INZoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Building & site characteristics
From public records
Year built
1934
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
Ret Holdings II LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1211 E HIATT ST, INDIANAPOLIS, IN 46221-1533
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2026
—
Ret Holdings II LLC
Ret Holdings LLC
Warranty Deed
related
—
Apr 1, 2026
—
Ret Holdings LLC
—
Deed
related
$150,000
Dec 16, 2025
—
Ret Holdings LLC
—
Deed
related
$400,000 · Economic Insight LLC
Nov 20, 2025
—
Ret Holdings LLC
—
Deed
related
$200,000 · Economic Insight LLC
Sep 12, 2025
—
Ret Holdings LLC
Bleu Rose Residential LLC
Warranty Deed
—
Mar 28, 2025
—
Blue Roseresidential LLC
—
Deed
related
$130,000 · B&d Training Services INC
Jul 15, 2024
—
Bleu Rose Residential LLC
West Indianapolis Development Corp
Warranty Deed
$100,000 · Kleinmaier Revocable Trust
Aug 29, 2022
—
West Indianapolis Development Corp
Southwest Health Center INC
Warranty Deed
—
Oct 16, 2013
—
Shanda Evans
South West Health Center INC
Dual Purpose Document
related
$53,406 · South West Health Center INC
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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