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4311 Old Indiana 261
Newburgh, IN 47630
Newburgh Medical/Office Space · Office Property For Sale
Investment Highlights
- Landscaped suburban setting
- Purpose built for medical and healthcare services
- Professional property management
Executive Summary
SVN | The Martin Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a two-tenant, medical center investment property located in Newburgh, Indiana (Evansville MSA). The property is divided into two suites with DaVita Dialysis currently occupying approximately 9,672 SF of the 12,172 SF leasable area. The other space is occupied by a complimentary wellness center. The WALT is 5.05 with both tenants possessing multiple five-year renewal options. The lease features annual 3% rental increases. Founded in 1994, DaVita Dialysis is one of the largest providers of kidney care in the U.S. and has been a leader in clinical quality and innovation for more than two decades.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
14,614 SF
Building Class
B
Year Built
1977
Price
$3,135,000
Price Per SF
$214.52
Cap Rate
6.90%
NOI
$216,315
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
12,208 SF
Building FAR
0.11
Lot Size
3.10 AC
Parking
100 Spaces (8 Spaces per 1,000 SF Leased)
Amenities
- Signage
Property Taxes
| Parcel Number | 87-12-26-102-003.000-019 | Improvements Assessment | $588,000 |
| Land Assessment | $514,800 | Total Assessment | $1,102,800 |
Property Taxes
Parcel Number
87-12-26-102-003.000-019
Land Assessment
$514,800
Improvements Assessment
$588,000
Total Assessment
$1,102,800
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