Net-Leased Specialty Medical
For Sale
Contact for pricing
7310 West Lincoln Highway, Crown Point, IN 46307
Single-tenant outpatient medical office leased under a net structure to Franciscan Physician Network.
Property Size13,380 SF
Price / SF$168.16
Days on Market60
Property Features for 7310 West Lincoln Highway
General Information
Standard status
Active
Size
13,380 SF
Property subtype
Retail, Special Purpose
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$301,050
Building Details
Year Built
2006
Tenancy
Single
Listing Agency:
Marcus & Millichap - Indianapolis
Listed By:
Jordan Klink · License #IN RB14043752
(317) 218-5316
Source:
Crexi
Added: Jul 9
Changed: Sep 4
Last Checked: Sep 2 at 1:51AM
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 Marcus & Millichap - Indianapolis
Investment Insights
Based on property information with market context.
A single-tenant, net-leased specialty medical office investment is available with an existing tenant operating from this location. Franciscan Alliance, Inc. (Franciscan Physician Network) currently occupies the facility, which was constructed in 2006 and remains configured for outpatient medical services. The property is leased under a triple-net structure and provides approximately 1.5 years of contractual cash flow before the lease term allows for discussion of next steps.
The tenant operates the Franciscan Physician Network Schererville Health Center from 7310 West Lincoln Highway in Crown Point, Indiana, offering Family Medicine, Internal Medicine, and Obstetrics & Gynecology. The purchase is presented as an institutional-quality healthcare tenancy investment, with the remaining lease term reflected in the offering materials at a stated 13.38% cap rate.
The building is offered as a 13,380-square-foot facility with a stated opportunity to negotiate a lease extension with Franciscan Alliance or pursue future repositioning to another medical or specialty user, as described in the offering summary.
The tenant operates the Franciscan Physician Network Schererville Health Center from 7310 West Lincoln Highway in Crown Point, Indiana, offering Family Medicine, Internal Medicine, and Obstetrics & Gynecology. The purchase is presented as an institutional-quality healthcare tenancy investment, with the remaining lease term reflected in the offering materials at a stated 13.38% cap rate.
The building is offered as a 13,380-square-foot facility with a stated opportunity to negotiate a lease extension with Franciscan Alliance or pursue future repositioning to another medical or specialty user, as described in the offering summary.
Key Highlights
- Single‑tenant net‑leased specialty medical office leased to Franciscan Alliance, Inc.
- 13,380 SF outpatient medical facility built in 2006 and occupied by the tenant since construction.
- Tenant operates the Franciscan Physician Network Schererville Health Center, including family medicine, internal medicine, and obstetrics & gynecology.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$187,277
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,745,540
$3.7M
Cap Rate 7%
$2,675,386
$2.7M
Cap Rate 9%
$2,080,856
$2.1M
Market Conditions
NOI Build-Up for 13,380 SF
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.
Gross rent
$346.8K $25.92/SF
− Vacancy
−$34.7K −$2.59/SF
EGI
$312.1K $23.33/SF
− OpEx
−$124.9K −$9.33/SF
NOI
$187.3K $14.00/SF
Area
Lake County, IN
Vacancy
10.00%
Lease Rate
$25.92 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,745,540
Cap Rate 7%
$2,675,386
Cap Rate 9%
$2,080,856
Alternative Uses
Best Use
Healthcare Medical
$2.68M
$2.34M – $3.12M
NOI $187,277 @ 7.0% cap · market cap 8.32%
Second Best
Office B
$2.42M
$2.12M – $2.83M
NOI $169,720 @ 7.0% cap · market cap 7.54%
Theoretical Best
Specialty Retail
$3.74M
$3.27M – $4.36M
NOI $261,462 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical center - Single-tenant outpatient medical office leased under a net structure to Franciscan Physician Network.
Where is this medical center located?
The property is located at 7310 West Lincoln Highway Crown Point, IN.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Single‑tenant net‑leased specialty medical office leased to Franciscan Alliance, Inc.; 13,380 SF outpatient medical facility built in 2006 and occupied by the tenant since construction.; Tenant operates the Franciscan Physician Network Schererville Health Center, including family medicine, internal medicine, and obstetrics & gynecology.
