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    3528 W Two Mile House Rd Columbus, IN 47201

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    For Sale
    $1,676,000

    Two commercial condominium units for sale with long-term tenants.

    Property size:
    9,400 SF
    Lot size:
    3.38 Acres

    Property Features for 3528 W Two Mile House Rd

    General Information

    Size
    9,400 SF
    Lot size
    3.38 Acres

    Source: Stith Commercial Agent David Stith

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Two Mile House Investment Opportunity

    This investment opportunity includes two commercial condominium units. One unit, located at 3520 Two Mile House Road, is 3700 square feet and leased to Groups Recover Together. The tenant remodeled the space in 2021 and has a lease that started August 1, 2021, with a renewal for another 3-year lease starting August 1, 2024. The lease includes annual 2.5% increases in base rent. The tenant is responsible for CAMS, while the landlord is responsible for property taxes. The tenant has two additional 3-year options to renew. The annual NOI is $43,050. The second unit, located at 3528 Two Mile House Rd, is leased to a non-profit organization that works with autistic people of all ages. The tenant's lease started on December 1, 2022, for a term of 7 years and 4 months, with annual rental increases. The building was remodeled in 2019 and again in December 2022 and January 2023. The total property size is 9400 square feet. The facade and exterior are under contract to be updated. The exterior lighting was updated the week of 11/10/2025. One of the HVAC units in the 3528 suite is scheduled to be replaced in the next 30 days.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Hope Veterinary Clinic West

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Bartholomew
    State
    Indiana
    Longitude
    -85.963547
    Latitude
    39.198209

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    FAQs

    What type of property is this?
    Medical office - Two commercial condominium units for sale with long-term tenants.
    Where is this medical office located?
    The property is located at 3528 W Two Mile House Rd Columbus, IN.
    What is the asking price?
    The asking price for this property is $1,676,000.
    What are key features of this property?
    This property features: - High potential CAP rate: Projected to reach 8.24%/8.31% at $1.676M with rental increases in August 2025 and April 2026.; - Two income-generating assets within a condominium property.; - 3520 Two Mile House Road: Tenant (Groups Recover Together) has renewed for another 3-year lease starting August 1, 2024, with annual 2.5% rent increases and two further 3-year renewal options.
    (812) 592-2062
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    3528 W Two Mile House Rd Columbus, IN 47201
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3528 W Two Mile House Rd Columbus, IN 47201
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