2608 6th St Vincennes, IN 47591-3623
- Commercial real estate
- 7,079 SF
- 1.84 lot acres
Current Use by Public Records
- Parachute - Plasma Donation Center / Blood Donation Center
Property Details for 2608 6th St
- Year built
- 1971
- Construction
- WOOD
- Lot size
- 1.84 lot acres
- Property size
- 7,079 SF
- Property type
- Commercial real estate
- APN
- 42-12-15-303-084.000-022
- APU
- 421215303084000022
Description
This exceptional investment opportunity presents a brand-new, 7,120-square-foot medical office building in Vincennes, Indiana. Located at 2608 N 6th St, this single-tenant property boasts a 20-year absolute triple-net (NNN) lease with a prominent plasma donation center operator. The lease commenced upon closing and features a strong 7.50% cap rate based on a current annual net operating income (NOI) of $316,626. The asking price is $4,221,678, translating to a price per square foot of $592.93. Built in 2023, the property sits on a 0.99-acre lot and enjoys 100% occupancy. The lease includes four, five-year renewal options, extending the potential lease term to 40 years. Crucially, annual rent increases of 2% are scheduled to commence in year six and continue throughout the base term and renewal options, providing consistent income growth. The lease is further secured by a corporate guarantee from a company with a significant national presence and expansion plans. This presents a compelling opportunity for long-term, passive income generation in a stable medical sector. The property's location in Knox County, Indiana, offers convenient access to the local community. This is a rare chance to acquire a high-quality, net-leased asset with substantial long-term growth potential.
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
- Vincennes
- County
- Knox
- State
- Indiana
- Longitude
- -87.5036
- Latitude
- 38.6906
- CBSA code
- 47180
- CBSA name
- VINCENNES, IN MICROPOLITAN STATISTICAL AREA
