385 Meridian Parke Lane
NNN-Leased, Two-Tenant Medical Office in Greenwood’s Premier Healthcare Corridor
Marketing description
385 Meridian Parke Lane is a two-tenant, NNN-leased medical office building located in the City of Greenwood, one of Indianapolis’ fastest growing bedroom communities with high average household incomes, dense single-family development and one of the top school systems in the region.
Built in 2003, this well-maintained Class A medical office is ideally positioned at the center of a high-growth suburban healthcare submarket. Its Class A design features, including limestone accents and upgraded tenant interior finishes, contribute to an elegant and timeless architectural appeal. At 100% occupancy with a 7.67-year WALT, the property offers investors an easy-to-manage Class A asset with well-established tenants in a strategic suburban healthcare node of Indianapolis.
Investment highlights
• Long-term NNN leases with 4% annual income growth and minimal management responsibilities
• Strong healthcare demand supported by outpatient growth
• Premium location fundamentals off State Road 135 (Meridian St) with 39,000 VPD
• Compelling demographics and regional accessibility with average household income exceeding $110,000
• Meaningful value creation potential through lease-up of 5,604 SF lower level
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