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Oak Street Health 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
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
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Health Care and Social Assistance
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Oak Street Health is a primary care provider headquartered in Chicago, Illinois, focusing on value-based care for older adults and Medicare beneficiaries. Founded in 2012, the organization emphasizes preventive healthcare through comprehensive primary care services, patient engagement, and coordinated specialty support. Its operating model is designed to improve outcomes by prioritizing longitudinal care, social support, and integrated health management rather than fee-for-service volume. The company has expanded across multiple states, supported by a network of clinics designed to increase access to preventive and chronic-care services. Oak Street Health became a subsidiary of CVS Health in 2023 following an all-cash acquisition. The organization has continued national growth through new clinic openings and service integration initiatives while maintaining its focus on seniors’ healthcare needs. Oak Street Health is privately held as part of CVS Health and continues to position itself within the Medicare-focused value-based care sector.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Health Care and Social Assistance | - | - | - |
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
Contacts
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Kyle Mackulak -
Tyler Swade -
Michael Moreno -
Rahul Chhajed -
Matthews Real Estate Investment Services
