8805 Meridian StIndianapolis, IN 46260

For Sale
$10,847,571

Three-building medical office complex, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
92
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.

Highlights

  • Three-building, 72,383 SF Class B medical office park in Indianapolis, IN.
  • 93% occupancy, $835,263 NOI, 7.70% cap rate; Asking price: $10,847,571 ($149.86/SF).
  • Prime location on a major medical corridor near multiple hospitals (IU Health, Franciscan Health, Ascension, St. Vincent, Peyton Manning Children's).
  • Strong tenant demand with 31,168 SF leased in the past 12 months, offering significant upside potential due to below-market rents.
  • Excellent accessibility, less than 0.5 miles from I-465.

Property Details for 8805 Meridian St

Property type
Other office properties, Medical offices
Square Feet
72,383 SF
Class
B
Lot Size (sq. ft)
174,676 SF

Location Insight

City
Indianapolis
County
Marion
State
Indiana
Latitude
39.91654469
Longitude
-86.1563773
8805 Meridian St, Indianapolis, Indiana

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
8805 Meridian St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message