240 South Meridian Road, Mitchell, IN 47446

Building Details

Year Built

1980

Listing agent Edward Otocka License #NY 10401298466

Listing office SURMOUNT g***@nnnpro.com Show Phone

Listing date Jun 16, 2026

Source Crexi

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 SURMOUNT

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Overview

This property is a Basin Industries industrial facility comprising approximately 78,000 rentable square feet within a 7.53-acre parcel. The transaction is structured as an exclusive sale listing with a long-term tenant commitment, and the building is currently under a Triple Net (NNN) lease.

The 20-year NNN lease is set to commence upon close of escrow. The annual rent is $560,625, with scheduled rent increases of 2.00% annually over the lease term.

For buyers seeking a stable, leased industrial asset, this offering provides a turnkey structure through the NNN lease terms and a remaining lease duration of 20 years beginning at closing. The property’s industrial configuration and dedicated lease setup are designed for investors or owners who want exposure to income-producing commercial real estate without operating expense responsibility, consistent with the NNN structure described in the offering materials.

Suggested Use

Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

Location Insight

• Map
• Local Demand

City

Mitchell

County

Lawrence

State

Indiana

Longitude

-86.460992

Latitude

38.734159

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FAQs

What type of property is this?

NNN property - Freestanding industrial facility on acreage, leased on a 20-year NNN basis with scheduled annual rent increases.

Where is this nnn property located?

The property is located at 240 South Meridian Road Mitchell, IN.

What is the asking price?

The asking price for this property is $7,475,000.

What are key features of this property?

This property features: Freestanding industrial facility built in 1980 on an estimated 7.53‑acre parcel; Approximately 78,000 rentable SF of building space; 20‑year Triple Net (NNN) lease with commencement upon close of escrow