8805 Meridian St Indianapolis, IN 46260-2332
Property Lookup
Property profile & analytics
8805 Meridian St Indianapolis, IN 46260-2332
- Medical Office Space
- 19,328 SF
- 0.34 lot acres
Property ID
US31-0562068
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.
Location Intelligence
Current Use by Public Records
- Scott Kim / Physician
- John J Fitzgerald, MD / Physician
- Mrs. Barbara Kovacs / Physician
- Natalie Prater / Physician
- Alina Clavijo-Passik, PHD / Physician
Property Details for 8805 Meridian St
- Year built
- 2002
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.34 lot acres
- Property size
- 19,328 SF
- Zone code
- ZO01
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 49-03-14-129-010.000-800
- APU
- 490314129010000800
Description
This exceptional investment opportunity presents a three-building Class B medical office park totaling 72,383 square feet, situated on 4.01 acres in Indianapolis, Indiana. The property boasts a 93% occupancy rate and a strong net operating income (NOI) of $835,263, yielding a 7.70% cap rate. Priced at $10,847,571 ($149.86/sq ft), this multi-tenant property features a modified lease type and is strategically located on a core medical corridor between numerous hospitals and surgery centers, including Indiana University Health (3 campuses), Franciscan Health, Ascension (2 campuses), St. Vincent Hospital, and Peyton Manning Children's Hospital. The property benefits from a diverse mix of credit tenants, significant leasing activity (31,168 sq ft leased in the past 12 months), and below-market rental rates, offering substantial upside potential. Its central location in North Indianapolis/Carmel, less than half a mile from Interstate 465, provides exceptional accessibility and visibility. This stabilized asset offers a steady cash flow with significant long-term growth prospects due to its prime location and strong tenant demand within a highly desirable patient population. The property's synergistic tenant mix further enhances its value and stability.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Marion
- State
- Indiana
- Longitude
- -86.1565
- Latitude
- 39.9167
- 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
$63,318
$194,400
$2,300,300
$2,494,700
-
$194,400
$2,300,300
$2,494,700
