3419 English Ave - Health Care FOR SALE


Indianapolis, IN 46201- Near Southeast
$4,615,000 USD
918-269-6093
3419 English Ave, Indianapolis, IN for Sale
$4,615,000 USD
Health Care - FOR SALE
1/7
null | 6.5% Cap Rate

3419 English Ave
Indianapolis, IN 46201
Near Southeast


HIGHLIGHTS

  • Investment Grade AA1/AA+ Credit
  • Tenant Investment of $3.4 Million
  • Sticky Location w/ Special Use Variant
  • Priced Below Replacement Cost
  • Synergistic Location w/ Nearby Developments
  • Tax Advantaged (Opportunity Zone)

OVERVIEW

Northmarq is pleased to offer the opportunity to acquire the fee simple interest in a newly redeveloped Eskenazi Health clinic in Indianapolis, Indiana. The property features a 10-year NNN lease with above market rental increases throughout. The tenant, Eskenazi Health, serves as the public hospital division of the Health & Hospital Corporation of Marion County, one of the country's largest Essential Health Care Systems that has served Indiana for over 150 years. This opportunity features investment grade credit with an AA+ rating from S&P and an Aa1 rating from Moody's. The subject property is being offered below replacement cost at $333/SF. The total redevelopment cost between the tenant and developer was $6,849,00 ($456/SF). The tenant has invested over $3.4 million into tenant improvements for the property making it an impressive hospital licensed space. This location will be the tenant's largest Mental Health Primary Care & Opiod Treatment Facility to date. The subject property is advantageously located, as it is near a new $1 Billion City of Indianapolis Criminal Justice Center Campus. Furthermore, the surrounding 5-mile area features more than 253,000 residents with a strong growth projection over the next several years. In Association with: Tom Fritz, IN Lic# RB14048630

FOR SALE DETAILS

PRICE

$4,615,000 USD

PRICE/SF

$308 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eskenazi Health Outpatient Clinic

PROPERTY TYPE

Health Care

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

65

LAND DETAILS

LAND ACRES

6.29 AC

LAND SF

273,992 SF

ZONING

-

APN/PARCEL ID

49-10-08-144-007.000-101

ASK ABOUT THIS PROPERTY

Jeff MatulisNorthmarqMore Info
918-269-6093

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Jeff MatulisNorthmarqMore Info
918-269-6093

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