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Property profile & analytics
FOR LEASE
Medical Office Space
9240 N Meridian St Indianapolis, IN 46260
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US31-0554179
For Lease
1 / 9
Contact for pricing
9240 N Meridian St, Indianapolis, IN 46260
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Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1978
Construction
TYPE NOT SPECIFIED
Total area
34,882 SF
Lot
3.11 ac (135,428 SF)
Zoning code
ZO01
APN
49-03-14-123-010.000-800
UPID
US31-0554179
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
-
Indiana Oral and Maxillofacial Surgery Associates Dental Office
-
Singh Swati DDS Dental Office
-
Sam Bullard DDS, MSD Dental Office
-
Brown Lisa B PhD Physician Medical Clinic
-
Doris K. Cramer, PhD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$432k
Blend (final)
Blend
$515k
Owner & transaction history
In-9240 Meridian LLC · 7 yrs held
In-9240 Meridian LLC
since 2019
4 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Neighborhood: shopping center
$825,000
+48.5%
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
Method
Estimation
Statistic approach
by Request
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$555,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$825,000
Change: +49% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$15 / 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
$68,435
Tax year 2023
Assessed value
$2,696,300
Assessed 2023
Previous assessed
$2,696,300
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$1,287,100
Assessed improvement
$1,409,200
Land market value
$1,287,100
Improvement market value
$1,409,200
Total market value
$2,696,300
Applied tax rate
800.0000
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
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Total area
34,882 SF
Lot
3.11 ac (135,428 SF)
Zoning code
ZO01
APN
49-03-14-123-010.000-800
UPID
US31-0554179
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
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$555,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$825,000
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
1978
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Lot
3.11 ac
Current owner
From public records · entity-resolved
In-9240 Meridian LLC
Entity
Mailing address
20416 HARPER AVE, HARPER WOODS, MI 48225-1644
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2019
—
In-9240 Meridian LLC
—
Deed
related
$3,200,000 · Tcf National Bank
May 15, 2019
$3,950,000
In-9240 Meridian LLC
9240 North Meridian LLC
Grant Deed
related
—
Sep 29, 2017
—
9240 North Meridian LLC
—
Grant Deed
related
$5,542,000 · Star Fin'l
—
—
9240 North Meridian LLC
—
Deed Of Trust
related
$2,200,000 · Farm Bureau Life Insurance
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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