Office Property Portfolio For Sale

Office for Sale
Catylist Listing ID: 30782395
Property Subtypes: Office Building
Building Size (RSF): 10,500 SF
Gross Building Area: See Agent
Gross Land Area: 3.37 Acres
Sale Price: $1,500,000
Unit Price: $142.86 PSF
Property Use Type: Investment
Building Name: 3520 & 3528 Two MIle House
Class of Space: Class B
Usable Size (USF): 10,500 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 1/22/2022

Overview / Comments

This investment has two assets.​ Both are part of a condominium property.​

3520 Two Mile House Road has just signed a new three year lease with Groups Recover Together started August 1, 2021.​ It is a modified gross lease for $42,000 annually.​ This space consist of 3700 square feet and is being remodeled by the Tenant.​ The Tenant has two options to renew.​

3528 Two Mile House Road has a three year lease with Birlasoft a Multinational Information Technology services provider that began May 1, 2019 and was freshly remodeled then.​ It consist of 5700 square feet and is a NNN lease.​ The base rent is $8.95/sq.​ ft.​ / year and the NNN charges are an additional $4/sq.​ ft.​ /year.​ for a GOI of $79515.00.​

Both properties are in good condition with excellent Tenants.​ Again one lease is NNN and the other is modified gross.​

Additional Details

Nearest MSA: Columbus
County: Bartholomew
Taxing Authority: Bartholomew
Tax ID/APN: 03-95-27-220-000.100-005
Zoning: COMMERCIAL STRIP CONDOMINIUM
Property Located Between: SR 46- & Two-Mile House Rd.
Property Visibility: Excellent
Highway Access: Sr. 46, I-65 Exit 68
Airports: Bakalar
Site Description: This investment has two assets.​ Both are part of a condominium property.​ 3520 Two Mile House Road has just signed a new three year lease with Groups Recover Together started August 1, 2021.​ It is a modified gross lease for $42,000 annually.​ This space consist of 3700 square feet and is being remodeled by the Tenant.​ The Tenant has two options to renew.​ 3528 Two Mile House Road has a three year lease with Birlasoft a Multinational Information Technology services provider that began May 1, 2019 and was freshly remodeled then.​ It consist of 5700 square feet and is a NNN lease.​ The base rent is $8.95/sq.​ ft.​ / year and the NNN charges are an additional $4/sq.​ ft.​ /year.​ for a GOI of $79515.00.​ Both properties are in excellent condition with excellent Tenants.​ Again one lease is NNN and the other is modified gross.​
Area Description: ​Excellent location in a high traffic area ​Surrounded by several National Companies and Medical offices as well ​good condition and well maintained. ​Near I-65 exit 68
Number of Stories: 1
Roof Type: Hip
Construction/Siding: Block
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Fiber Optic
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: owned

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 15,751 48,509
Median Age: 38.48 38.51
Households: 6,391 19,217

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