Medical/Office Investment Property
Office
for Sale
| Catylist Listing ID: |
30681775 |
| Property Subtypes: |
Medical
|
| Building Size (RSF): |
7,575 SF
|
| Gross Building Area: |
13,950 SF |
| Gross Land Area: |
0.83 Acres
|
| Sale Price: |
$1,100,000 |
| Unit Price: |
$145.21 PSF |
| Property Use Type: |
Investment |
| Building Name: |
Wood Crest Medical Plaza |
| Class of Space: |
Class A |
| Usable Size (USF): |
7,575 SF |
| Sale Terms: |
Cash to Seller, Owner Financing |
| Last Updated: |
1/19/2023 |
Overview / Comments
|
Investment property for sale. The property is zoned Medical/Office and is part of a PUD. The investment consists of one building with a total of 7575 square feet of rentable space with a total of 2 tenants and is 100% leased. Both of which are medical offices. This building also has a full lower level as well. The lower level could possibly be expanded by adding a separate entrance/exit. It would add an additional 6975 square feet and already has all the utilities in place for future expansion. One Tenant (IU Health) renewed in January 2021 with 3 options and is a NNN lease. The other Tenant (Neurohealth) renewed with a fresh 5-year NNN lease that began in January 2022. This would be an excellent opportunity for a 1031.
|
Financials
| Finance Data Year |
2022 |
| Net Operating Income |
$64,695 (Annual) |
| Actual or Proforma Year |
Actual |
Current Tenants
| Tenant Business Name |
NTN/IU Health |
| Is Renting? |
Yes |
| Tenant Business Name |
Neurohealth |
| Is Renting? |
Yes |
| SF of Space Occupied |
5,800 SF |
Additional Details
| Nearest MSA: |
Columbus |
| County: |
Bartholomew |
| Taxing Authority: |
Bartholomew |
| Tax ID/APN: |
03-95-28-110-000.102-005 |
| Zoning: |
P.U.D. MEDICAL/OFFICE |
| Property Located Between: |
Goeller Blvd & SR 46 W |
| Property Visibility: |
Excellent |
| Highway Access: |
Goeller Blvd, SR.46 W, I-65 Exit 68 |
| Airports: |
Bakalar |
| Site Description: |
This investment site consist of one building zoned Medical Office and part of a PUD with 66 parking spaces. It is professionally landscaped and in excellent condition. The building had a new roof installed in 2015. Investment property for sale. The property is zoned Medical/Office and is part of a PUD. The investment consists of one building with a total of 7575 square feet of rentable space with a total of 2 tenants and is 100% leased. Both of which are medical offices. This building also has a full lower level as well. The lower level could possibly be expanded by adding a separate entrance/exit. It would add an additional 6975 square feet and already has all the utilities in place for future expansion. One Tenant (IU Health) renewed in January 2021 with 3 options and is a NNN lease. The other Tenant (Neurohealth) renewed with a fresh 5-year NNN lease that began in January 2022. This would be an excellent opportunity for a 1031. |
| Area Description: |
The site is located in the West side of Columbus visible from SR 46 W and is near Tipton Lakes, Grandview Lake, and Harrison Lakes. It is just approximately 1/4 mile from I-65 exit 68 and close proximity to several national restaurants and Hotel accommodations. This is an extremely fast growing area and especially for medical. |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Year Built: |
1989 |
| Year Renovated: |
2019 |
| Roof Type: |
Gable |
| Construction/Siding: |
Stone, Wood Siding |
| Exterior Description: |
The building was freshly painted in 2021. |
| Parking Type: |
Surface |
| Parking Description: |
This is a well lighted parking lot. |
| Total Parking Spaces: |
66 |
| Sprinklers: |
Wet |
| Heat Type: |
Electricity, Natural Gas |
| Heat Source: |
Central |
| Air Conditioning: |
Package Unit |
| Interior Description: |
The interior is in excellent condition. Both spaces have been freshly updated within the last 3 years. |
| Zoning Description: |
Medical/Office and is part of a PUD |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Ingress/Egress, Utilities |
| Land Ownership: |
owned |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,095 |
13,943 |
46,092 |
| Median Age: |
42.06 |
38.95 |
38.13 |
| Households: |
835 |
5,632 |
18,032 |
|
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