202 West St Tipton, IN 46072
- Office Properties & Spaces
- 3,795 SF
- 0.36 lot acres
Current Use by Public Records
- Community Fairbanks Behavioral Health - Tipton / Psychiatrist / Mental Health Service
Property Details for 202 West St
- Year built
- 1949
- Lot size
- 0.36 lot acres
- Property size
- 3,795 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional 3,795 square foot medical office building, located at 202 S West St, Tipton, IN 46072, is offered for sale at $680,000. The property boasts a 7.53% capitalization rate and a strong net operating income (NOI) of $51,232, supported by a 100% occupancy rate. Built in 1949 and extensively renovated in 2023, this single-story building sits on a 0.36-acre lot and includes 10 parking spaces. The property is zoned for commercial use and features a single tenant, Community Howard Regional Health, a part of Community Health Network, operating a Community Fairbanks Clinic providing behavioral health services. This clinic offers individual and family therapy, group therapy for substance use and mental health, case management, psychiatric medication services, and medication-assisted therapy. The building's prime location in Tipton, easily accessible from US-31 and SR-28, ensures high visibility and convenient access for patients and staff. Its proximity to Indianapolis, Kokomo, and Anderson further enhances its appeal. The current tenant recently completed significant renovations and expansion, demonstrating a long-term commitment to the location. The property's strong financial performance, coupled with its strategic location and stable tenancy, presents a compelling investment opportunity in the growing Tipton healthcare market. The APN is 80-11-11-546-068.010-002.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tipton
- County
- Tipton
- State
- Indiana
- Longitude
- -86.0432
- Latitude
- 40.2807
