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33288442
33288443

385 Meridian Parke Lane, Greenwood, IN 46142

BR
IN 25000924
Cushman & Wakefield - Indianapolis, Indiana
RW
IN RB14043265
Cushman & Wakefield - Indianapolis, Indiana
Listed by Cushman & Wakefield - Indianapolis, Indiana
$2,825,000
3 days on market
Updated 3 days ago

385 Meridian Parke Lane

Details
Property Type Office
Sub Type Traditional Office, Medical Office
Square Footage 12,863
Units 28
Cap Rate 7.10%
NOI $199,249
Tenancy Multi
Lease Type NNN
Class A
Year Built 2003
Buildings 1
Acreage 0.650
Parking Spaces 28 spaces
Parking Per SqFt 2.18
Ground Lease No

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

Listing Contacts

BR
IN 25000924
Cushman & Wakefield - Indianapolis, Indiana
RW
IN RB14043265
Cushman & Wakefield - Indianapolis, Indiana
Listed by Cushman & Wakefield - Indianapolis, Indiana

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$199,249.00
$16,604.08/mo

Valuation Metrics

0
DSCR
7.05%
Cap Rate
7.05%
ROI

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Additional Information

Name
Brooke Ratliff
License
25000924
Brokerage
Cushman & Wakefield
Brokerage Phone
3176251559
Title
Associate
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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