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    1125 Professional Blvd Evansville, IN 47714

    Sponsored
    For Sale
    $5,985,000

    16,872 SF Medical Office, 8.45% Cap Rate

    Property size:
    16,872 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 16,872-square-foot, single-tenant medical office building in Evansville, Indiana. The property, built in 1994, boasts 100% occupancy with a strong, creditworthy tenant: St. Vincent Hospitals, part of Ascension Health, a leading healthcare provider. The building sits on a 2.53-acre lot and includes 67 parking spaces. The property features a single-story structure with a permitted commercial zoning designation. The asking price is $5,985,000, reflecting a compelling 8.45% capitalization rate and a net operating income (NOI) of $505,977. The current lease is a triple-net (NNN) lease, minimizing landlord responsibilities. The building's prime location at 1125 Professional Blvd, Evansville, IN 47714, is strategically situated near Ascension St. Vincent's Evansville Hospital, other medical facilities, residential areas, and numerous retail amenities, including the Washington Square Mall. A recent three-year lease extension further solidifies the long-term stability of this investment, showcasing the tenant's commitment to the location and its continued investment in the property. This presents a rare opportunity to acquire a stable, high-performing medical office building in a thriving healthcare market. The property's strong financials, coupled with its desirable location and long-term lease, make it an attractive investment for discerning buyers. The property's APN is 82-06-35-016-096.006-027.

    Property Features for 1125 Professional Blvd

    General Information

    Property type
    Medical offices
    Square Feet
    16,872 SF
    Lot Size
    110,207 SF

    Building Details

    Year Built
    1994
    Buildings
    1
    Stories
    1
    Units
    1
    Property Profile Location Intelligence

    Current Use by Public Records

    St Mary's Surgicare: ... Doctor Andrew Warren Tharp Ophthalmologist Ascension St Vincent ... Surgical Center

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5004178
    Latitude
    37.9595392

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    FAQs

    What type of property is this?
    Medical office - 16,872 SF Medical Office, 8.45% Cap Rate
    Where is this medical office located?
    The property is located at 1125 Professional Blvd Evansville, IN.
    What is the asking price?
    The asking price for this property is $5,985,000.
    Request Owner's contact information
    1125 Professional Blvd Evansville, IN 47714
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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
    1125 Professional Blvd Evansville, IN 47714
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