Woodridge Center Unit E

3520 Two Mile House Rd., Columbus, Indiana 47201

  • Property Subtypes Governmental
  • Building Size (RSF) 3,700 SF
  • Gross Building Area 3,700 SF
  • Building Name Woodridge Center
  • Building Status Existing
  • Sale Price $600,000.00 - Total
  • Property Use Type Net Leased (NNN)
  • Class of Space Class B
  • Sale Terms Cash to Seller
  • Cap Rate Undisclosed
  • Last Updated 8/12/2019
  • Days on Market 290 Days
  • Status active

Overview / Comments

This property is part of a condominium and includes 3700 square feet and is identified as Unit E from the Woodridge Center. The present tenant is the Indiana Department of Revenue which have been at the is location since Feb. 2011. Their lease is for 10 years with 2 Five year renewals. The lease is all inclusive with the exception of property taxes. Due to the fact it is a state agency they have waived the property taxes. Obviously if the tenant ever leaves that could change. The space was originally built out for the state in late 2010 and the Department of Revenue opted to remodel and have reconfigured again in 2015. So it is in very good condition. It has a main lobby area and is separated from the remaining office area. It has 12 private offices, a conference room, break area, two handicap accessible restrooms, as well as lots of storage. The state only pays for 3142 square feet so there is an additional 525 square feet that is blocked off and not used by the state. Again this is part of a condominium all the fees are shared for common area maintenance with the other owners of the center on a prorated basis. Based on square footage.

Financials

  • Finance Data Year 2018
  • Net Operating Income $37,200
  • Gross Operating Income $50,400
  • Actual or Proforma Year Actual

Additional Details

  • Tax ID/APN 03-95-27-220-000.100-005
  • Zoning Commercial Strip
  • Property Visibility Excellent
  • Site Number E
  • Tax Auth Bartholomew County

Current Tenants

  • Tenant Business Name Indiana Dept of Revenue
  • Space Occupied 3,700