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Oak Street Health | 12.4 YR NNN Lease | CVS 711 E 38th St 12,424 SF Retail Building Indianapolis, IN 46205 $4,888,889 ($393.50/SF) 6.75% Cap Rate
Investment Highlights
- Backed by CVS Health acquired for $10.6 billion in 2023, providing significant financial backing
- Mission-critical healthcare location serving densely populated urban trade area
- 6.75% cap rate with NNN lease structure providing passive, management light investment
- Oak Street Health operates 230+ centers nationwide serving Medicare-eligible patients
- 12.4 years remaining with 10% rent increases every five years and two renewal options
- Growing Indianapolis MSA added 100,000+ residents since 2020
Executive Summary
Broker Of Record
Kyle Matthews
Matthews Real Estate Investment Services, Inc
RB17001213, RC52200195 (IN)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Kyle Matthews
Matthews Real Estate Investment Services, Inc
RB17001213, RC52200195 (IN)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
12,424 SF
Building Class
B
Year Built/Renovated
1993/2023
Price
$4,888,889
Price Per SF
$393.50
Cap Rate
6.75%
NOI
$330,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.33 AC
Frontage
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-06-24-124-017.000-101 | Improvements Assessment | $1,078,200 |
| Land Assessment | $124,200 | Total Assessment | $1,202,400 |
Property Taxes
Parcel Number
49-06-24-124-017.000-101
Land Assessment
$124,200
Improvements Assessment
$1,078,200
Total Assessment
$1,202,400
Contacts
-
Kyle Mackulak -
Tyler Swade -
Michael Moreno -
Rahul Chhajed -
Matthews Real Estate Investment Services
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