1920 S Rhodes St - Office FOR SALE


Rochester, IN 46975
$325,000 USD
574-220-8636
1920 S Rhodes St, Rochester, IN for Sale
$325,000 USD
Office - FOR SALE
1/9
null | 9.29% Cap Rate

1920 S Rhodes St
Rochester, IN 46975


HIGHLIGHTS

  • Single-tenant gross lease with state-guaranteed Tenant
  • Tenant has operated at the facility for over thirty years and has five years of term remaining with options to extend
  • Owner has invested over $110,000 in the property over the last four years including a new roof and parking lot
  • Property is exempt from real estate taxes as a product of having a government tenant

OVERVIEW

1920 Rhodes St is a 3,692 SF single-tenant office building occupied by the Indiana Department of Child Services. The tenant has been in the space for over thirty years and has recently renewed through 2029 with an option to renew for an additional four years. The tenant pays $15.75/SF gross, where landlord covers insurance, utilities, and general maintenance (the property is real estate tax exempt). The property is located on the south side of Rochester, IN, just off of Main St with good access to local amenities and US 31. The building features multiple private offices, open cubicle space, breakroom, conference room, reception area, and four private restrooms, along with an attic for additional storage.

FOR SALE DETAILS

PRICE

$325,000 USD

PRICE/SF

$88 USD /SF

CAP RATE

9.29%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

GC-General Commercial

APN/PARCEL ID

25-07-93-100-002.010-009

ASK ABOUT THIS PROPERTY

Gregory PinkBradley CompanyMore Info
574-220-8636

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Gregory PinkBradley CompanyMore Info
574-220-8636

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.