8805 Meridian StIndianapolis, IN 46260

Property Details for 8805 Meridian St

Year built

2002

Construction

TYPE NOT SPECIFIED

Lot size

0.34 AC

Property size (Sq ft)

19,328 SF

Zone code

ZO01

Property type

Healthcare properties

Property subtype

Medical offices

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,515,147

  6.5%

  $2,321,674

  7%

  $2,155,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,824,864

  Geo Method

  $1,824,864

• Alternative Use

  Use

  Valuation

  Residential

  $2,878,876

  Hospitality

  $2,637,035

  Educational

  $2,193,982

  Medical

  $2,269,436

  Retail

  $3,412,861

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.9167

Longitude

-86.1565

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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