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

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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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