Single-Tenant Surgery
1125 PROFESSIONAL BLVD, Evansville, IN 47714
For Sale
Contact for pricing
The facility is occupied by Ascension Health under an NNN lease with annual rent increases.
Property Size16,872 SF
Lot Size2.53 Acres
Price / SF$336.36
Days on Market35
Property Features for 1125 PROFESSIONAL BLVD
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Additional Details
Highway Access
Tenant in Place
Property Use
Medical Specialty
Building Details
Buildings
Building Size
Construction
Tenancy
Listing Agency:
The DiSalvo Group
Listed By:
Joseph DiSalvo · License #IN RB14051407
(317) 410-8788
Source:
Crexi
Added: Oct 6
Changed: Nov 8
Last Checked: Nov 8 at 5:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The DiSalvo Group
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Investment Insights
Based on property information with market context.
This medical center in Evansville contains approximately 16,872 SF on a 2.53-acre site. Masonry construction and 67 surface parking spaces serve the single-tenant facility, which is occupied by Ascension Health. The NNN lease includes 2.00% annual rent increases, and occupancy is 100%. The reported cap rate is 9.28%.
The property is one minute from Ascension St. Vincent Evansville Hospital. Nearby context includes residential neighborhoods, medical offices, grocery stores, dining, banking, and Washington Square Mall. Access to I-69, US-41, and SR-66 connects the site with the surrounding area.
The property is one minute from Ascension St. Vincent Evansville Hospital. Nearby context includes residential neighborhoods, medical offices, grocery stores, dining, banking, and Washington Square Mall. Access to I-69, US-41, and SR-66 connects the site with the surrounding area.
Key Highlights
- ±16,872 SF medical center on ±2.53 acres
- Single‑tenant occupancy by Ascension Health
- NNN lease with 2.00% annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$221,091
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,421,820
$4.4M
Cap Rate 7%
$3,158,443
$3.2M
Cap Rate 9%
$2,456,567
$2.5M
Market Conditions
NOI Build-Up for 16,872 SF
Gross rent
$404.9K $24.00/SF
− Vacancy
−$36.4K −$2.16/SF
EGI
$368.5K $21.84/SF
− OpEx
−$147.4K −$8.74/SF
NOI
$221.1K $13.10/SF
Area
Evansville, IN
Vacancy
9.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,421,820
Cap Rate 7%
$3,158,443
Cap Rate 9%
$2,456,567
Alternative Uses
Best Use
Healthcare Medical
$3.16M
$2.76M – $3.68M
NOI $221,091 @ 7.0% cap · market cap 3.90%
Second Best
Office B
$2.93M
$2.57M – $3.42M
NOI $205,298 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,200 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,716
Businesses Nearby
Explore this area
Business Placement
Demographics for 47714, IN
32,827
Population
16,040
Households
2
Avg Household Size
36
Median Age
22%
College-Educated
87%
High-School Grad
8.0 sq mi
ZIP Area
4,103
Density / Sq Mi
$54,614
Median Household Income
$33,246
Median Earnings
$951
Median Rent
$124,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical center - The facility is occupied by Ascension Health under an NNN lease with annual rent increases.
Where is this medical center located?
The property is located at 1125 PROFESSIONAL BLVD Evansville, IN.
What is the asking price?
The asking price for this property is $5,675,000.
What are key features of this property?
This property features: ±16,872 SF medical center on ±2.53 acres; Single‑tenant occupancy by Ascension Health; NNN lease with 2.00% annual rent increases
