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7310 W Lincoln Hwy
Crown Point, IN 46307
Franciscan Health Medical Building · Office Property For Sale
Investment Highlights
- Offered at an attractive 13.38% CAP Rate, providing strong current cash flow rarely found with investment-grade credit tenants
- Franciscan has continuously occupied the building since its construction in 2006, demonstrating the property's long-standing importance
- Backed by an "AA" Fitch-rated healthcare system operating 12 hospital campuses and over 300 care sites throughout Indiana, Illinois and Michigan
- Minimal landlord oversight required; the tenant reimburses for real estate taxes, insurance, and CAM, allowing for an optimized passive investment
Executive Summary
The Klink Group of Marcus & Millichap is pleased to exclusively offer for sale the single-tenant net-leased specialty medical office investment leased to Franciscan Alliance, Inc., one of the Midwest's premier investment-grade healthcare systems. The offering presents a compelling opportunity to acquire a well-located outpatient medical asset while generating a 13.38% CAP rate during the remaining lease term. Backed by an "AA" Fitch-rated healthcare system, the property combines institutional-quality tenancy with a rare double-digit going-in yield. The offering provides investors with strong current income while preserving multiple exit strategies, including lease extension with Franciscan Alliance or future repositioning to another medical or specialty user. Offered at approximately $168 per square foot, the acquisition basis is significantly below today's estimated replacement cost for a comparable outpatient medical facility, creating meaningful intrinsic value and helping mitigate downside risk.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
13,380 SF
Building Class
C
Year Built
2006
Price
$2,250,000
Price Per SF
$168.16
Cap Rate
13.38%
NOI
$301,050
Tenancy
Single
Building Height
1 Story
Typical Floor Size
13,380 SF
Slab To Slab
11’
Building FAR
0.25
Lot Size
1.25 AC
Parking
76 Spaces (5.68 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Wheelchair Accessible
- Smoke Detector
Property Taxes
| Parcel Number | 45-11-14-376-001.000-036 | Improvements Assessment | $1,608,900 |
| Land Assessment | $627,000 | Total Assessment | $2,235,900 |
Property Taxes
Parcel Number
45-11-14-376-001.000-036
Land Assessment
$627,000
Improvements Assessment
$1,608,900
Total Assessment
$2,235,900
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