3528 Two Mile House Rd.

Office for Sale
Catylist Listing ID: 30829144
Property Subtypes: Office Building
Condo? Yes
Building Size (RSF): 5,700 SF
Gross Building Area: See Agent
Gross Land Area: 3.37 Acres
Sale Price: $1,050,000
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Woodridge Center
Class of Space: Class B
Usable Size (USF): 5,700 SF
Sale Terms: Cash to Seller
Cap Rate: 6.24%
Average Occupancy Rate: 100
Last Updated: 1/31/2023

Overview / Comments

This space has just started with a new Tenant on December 1st, 2022 and is for 7 years and 4 months. The lease starts at $11.50/sq.ft./yr +NNN and then has annual increases which will end on year 7 with $17.50/ square foot/ year plus NNN charges. The building was remodeled in 2019 and is being remodeled again in December of 2022 and January of 2023. This is an excellent opportunity.

Current Tenants

Tenant Business Name Reach Columbus, Inc
Is Renting? Yes
SF of Space Occupied 5,700 SF
Lease Expiration 3/2030
Escalations Yes, annually
Options one option for 5 years

Additional Details

Nearest MSA: Columbus
County: Bartholomew
Taxing Authority: Bartholomew
Tax ID/APN: 03-95-27-220-000.100-005
Is Condo?: Yes
Zoning: COMMERCIAL STRIP CONDOMINIUM
Property Located Between: SR 46- & Two-Mile House Rd.
Property Visibility: Excellent
Airports: Bakalar
Site Description: This space has just started with a new Tenant on December 1st, 2022 and is for 7 years and 4 months. The lease has annual increases which will end on year 7 with $17.50/ square foot/ year plus NNN charges. The building was remodeled in 2019 and is being remodeled again in December of 2022 and January of 2023. This is an excellent opportunity.
Area Description: Excellent location surrounded by several national and regional companies.
Number of Stories: 1
Year Built: 1985
Year Renovated: 2023
Roof Type: Other
Construction/Siding: Block
Parking Type: Surface
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System, Package Unit
Internet Access: Cable, 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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