17901 Turners Dr South Bend, IN 46635-1529

Property Details for 17901 Turners Dr

Year built

1991

Construction

TYPE NOT SPECIFIED

Lot size

1.19 lot acres

Property size

3,922 SF

Property type

Medical offices

Property subtype

Medical centers

APN

71-04-29-301-004.000-003

APU

710429301004000003

Description

This exceptional investment opportunity presents a 7,800 square foot medical office building located at 17901 Turners Dr, South Bend, IN 46635. The property boasts a 9.50% cap rate and a strong NOI of $127,191, based on a current asking price of $1,338,853. Currently 100% occupied by Elite Dental Partners, a large and established Dental Service Organization (DSO) with over 100 locations across 12 states, the property features a single-tenant lease with 3.2 years remaining, plus a five-year option. The lease commenced on December 31, 2022, and includes a 5% rent bump in the option period. Built in 1991, this single-story building benefits from its high-visibility location near an interstate highway and within a densely populated area exceeding 170,000 residents within a 5-mile radius. The property's proximity to Notre Dame University, a major economic driver generating over $2.46 billion annually, and a robust retail corridor featuring national brands like Chick-fil-A, Walmart, and Target, further enhances its value and appeal. The recent lease extension underscores the tenant's long-term commitment and the property's success within the thriving dental industry, a sector valued at $176 billion and growing at an average of 2.5% annually. The tenant's significant investment in the location and the inherent stability of healthcare real estate make this a compelling investment prospect.

Location Insight

City

South Bend

County

St. Joseph

State

Indiana

Longitude

-86.2151

Latitude

41.7146

CBSA code

43780

CBSA name

SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments