3528 W Two mile house Rd, Columbus, IN
Two commercial condominium units for sale with long-term tenants.
- Added:
- May 1, 2025
- Days on Market:
- 410
- Last Refresh:
- May 19 at 9:59 pm
Property Features for 3528 W Two mile house Rd
General Information
- Standard status
- Active
- Size
- 9,400 SF
- Lot size
- 3.38 Acres
- Property subtype
- OFFICE
Listing agent David Stith (812) 592-2062
Listing office Stith Commercial (812) 592-2062
Listing date May 1, 2025
Source Moodyscre
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 Stith Commercial
HighLights
- 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.
- Long‑term tenant at 3528 Two Mile House Rd (non‑profit serving autistic individuals) with a lease extending 7 years and 4 months from December 1, 2022, featuring annual rental increases.
- Recent and ongoing property improvements: Facade and exterior updates under contract, exterior lighting replaced, and HVAC unit replacement scheduled for 3528 suite.
- 3520 Two Mile House Road: Consists of 3700 square feet and was remodeled in 2021.
Overview
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $236.9k | $25.20 |
| − Vacancy | −$24.9k | −$2.65 |
| EGI | $212.0k | $22.55 |
| − OpEx | −$84.8k | −$9.02 |
| NOI | $127.2k | $13.53 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Hope Veterinary Clinic West — 4220 Jonathan Moore Pike, Columbus, IN 47201
Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Bartholomew
- State
- Indiana
- Longitude
- -85.9635
- Latitude
- 39.1982
