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    6920 Parkdale Pl Indianapolis, IN 46254

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    Property profile & analytics

    6920 Parkdale Pl Indianapolis, IN 46254

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    • Medical Office Space
    • 39,960 SF
    • 4.26 lot acres
    For Lease
    $905,000
    View Listing →
    Medical Office Space Available For Lease
    $905,000
    3,632 SF

    Medical Office Space Available

    Medical office space for rent near I-465.

    6920 Parkdale Pl, Indianapolis, IN
    View Listing
    Property ID
    US31-0699032
    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.
    Value Estimations
    $905,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Methodist Cardiology Physicians / Medical Clinic
    • Westside Gynecology Inco / Physician / Medical Clinic
    • Eskenazi Health Family Planning West / Family Planning Center / Community Health Centre
    • Elizabeth V. Mathews, DO - Riley Pediatric Primary Care - Indianapolis / Pediatrician / Medical Clinic
    • IU Health Physicians / Medical Clinic

    Property Details for 6920 Parkdale Pl

    Year built
    1990
    Construction
    TYPE NOT SPECIFIED
    Lot size
    4.26 lot acres
    Property size
    39,960 SF
    Zone code
    ZO01
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    49-05-14-138-010.000-600
    APU
    490514138010000600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $690,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,120,000
      Market price range: $705k - $2.15M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,495,000
      Current use
      RETAIL STORES
      $1,200,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.2825
    Latitude
    39.8272
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, 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
    $51,203
    $786,100
    $1,581,000
    $2,367,100
    -
    $786,100
    $1,581,000
    $2,367,100

    Comparable in this City

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    • Value Estimation
      $690,000
      36,182 SF

      4850 Century Plz Rd

      MEDICAL BUILDING • 36,182 SF
      4850 Century Plz Rd, Indianapolis, IN 46254-5476
      View Details
    • Value Estimation by Request
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      5457 38th St

      MEDICAL BUILDING • 3,149 SF
      5457 38th St, Indianapolis, IN 46254-2917
      View Details
    • Value Estimation by Request
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      5660 Eden Vlg Dr

      MEDICAL BUILDING • 2,742 SF
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      4,188 SF

      5050 Pike Plz Rd

      MEDICAL BUILDING • 4,188 SF
      5050 Pike Plz Rd, Indianapolis, IN 46254-3001
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    • Value Estimation by Request
      12,804 SF

      4115 Ofc Plz Blvd

      MEDICAL BUILDING • 12,804 SF
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      View Details

    Similar Nearby for Sale

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      1.60 Acres

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      8,200 SF

      Indianapolis Medical Office Building For Sale

      8,200 SF medical office building 100% leased through 2030.
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      Office Building Near I-65

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      3,750 SF

      Indianapolis Office Space For Sale

      Office property with 3750 square feet of space.
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      Prime Development Site Indianapolis Corridor

      5.21 acre commercial development site in Indianapolis for sale.
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      1,800 SF

      Freestanding Building on Georgetown Road

      1,530 SF building or land for ground lease available.
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    Similar Nearby for Lease

    • Contact for pricing
      5,250 SF

      Medical Office Suites Available

      Single-story medical office building near Lafayette Road with ample parking.
      4115-4117 Office Plaza Blvd, Indianapolis, IN 46254
      View Details
    • $20 SF/Yr

      Lafayette Road Commercial Space Available

      Shell condition space suitable for office, medical, or retail uses.
      5445 Lafayette Rd, Indianapolis, IN 46254
      View Details
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      3,531 SF

      Medical Office Space Available

      Medical office space with highway visibility, available Q4 2025.
      6620-6640 Parkdale Pl, Indianapolis, IN 46254
      View Details
    • Contact for pricing
      3,460 SF

      Medical Office Space Available

      Medical office space for rent near I-465.
      6920 Parkdale Pl, Indianapolis, IN 46254
      View Details
    • Contact for pricing
      1,140 SF

      Medical Office Space Available

      Premier medical office building near IU Health Methodist Medical Plaza.
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      View Details
    • Contact for pricing

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces available in a neighborhood retail center.
      5614 Georgetown Rd, Indianapolis, IN 46254
      View Details
    View Listing
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    6920 Parkdale Pl
    Indianapolis, IN 46254
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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.

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