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3520-3528 W Two Mile House Rd 9,400 SF Office Condo Unit Offered at $1,676,000 in Columbus, IN 47201
INVESTMENT HIGHLIGHTS
- Visible from I-65 & SR. 46
- Fast growing area
- Surrounded by several national companies. Sams Club, Menards, Texas Roadhouse, etc..
PROPERTY FACTS
| Total Building Size | 18,880 SF | Typical Floor Size | 18,880 SF |
| Property Type | Office (Condo) | Year Built | 1982 |
| Building Class | C | Lot Size | 3.37 AC |
| Floors | 1 | ||
| Zoning | Commercial Strip Center - General commercial zoning for various business activities. | ||
| Total Building Size | 18,880 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 18,880 SF |
| Year Built | 1982 |
| Lot Size | 3.37 AC |
| Zoning | Commercial Strip Center - General commercial zoning for various business activities. |
1 UNIT AVAILABLE
Unit 3520-3528
| Unit Size | 9,400 SF | Sale Type | Investment |
| Price | $1,676,000 | Cap Rate | 7.50% |
| Price Per SF | $178.30 | NOI | $125,700 |
| Condo Use | Office | Sale Conditions | 1031 Exchange |
| Unit Size | 9,400 SF |
| Price | $1,676,000 |
| Price Per SF | $178.30 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| NOI | $125,700 |
| Sale Conditions | 1031 Exchange |
DESCRIPTION
3520 Two Mile House Road consists of 3,700 square feet and was remodeled by the Tenant in 2021.
3528 Two Mile House was last remodeled in January 2023.
SALE NOTES
This investment has two assets. Both are part of a condominium property.
3520 Two Mile House Road has a three-year lease that started August 1, 2021, and have just renewed another 3-year lease starting August 1st,2024. They also have an annual 2.5% increase in base rent and are responsible for the CAMS with the Landlord responsible for the Property Taxes. The Tenant is Groups Recover Together. The annual NOI is $43,050. The Tenant has two more 3-year options to renew. The Tenant is strong with multiple locations in several states.
3528 Two Mile House Rd. This Tenant started 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 tenant is a non-profit that works with autistic people of all ages and is doing very well in this location. This has turned out to be a great fit for this type of service. This is an excellent opportunity.
With the rental increases in August 2025 and April 2026 – The CAP rate at 1.676M will get to 8.24%/8.31%
Presented by
3520-3528 W Two Mile House Rd
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