3528 W Two Mile House Rd Columbus, IN 47201
- Medical offices
- 5,700 SF
- 3.37 lot acres
Current Use by Public Records
- Medical offices
Property Details for 3528 W Two Mile House Rd
- Year built
- 1985
- Lot size
- 3.37 lot acres
- Property size
- 5,700 SF
- Property type
- Medical offices
- APN
- 03-95-27-220-000.100-005
Description
This exceptional investment opportunity presents a 5,700-square-foot office building located at 3528 W 2 Mile House Rd, Columbus, IN 47201, in Bartholomew County. The property, classified as a Class B building, is currently 100% occupied under a single, absolute NNN lease with a remaining term of 7.4 years, commencing December 1, 2022, and expiring March 31, 2030. The tenant occupies the entire space, which is suitable for executive or medical office use, reflecting the property's permitted Commercial Strip zoning. Built in 1985 and extensively renovated in 2022, the building sits on a 3.37-acre lot (APN: 03-95-27-220-000.100-005). The current asking price is $1,050,000, translating to $12.50 per square foot, with a current NOI of $71,250 and a 6.79% cap rate. The lease includes annual rent increases, culminating in a rent of $17.50 per square foot plus NNN charges in year seven. This property offers a strong, stable income stream with built-in rent growth, situated in an excellent location surrounded by numerous national and regional businesses. The lease includes one option to renew. This is a turnkey investment opportunity with a long-term lease and significant upside potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Bartholomew
- State
- Indiana
- Longitude
- -85.9642756
- Latitude
- 39.1990658
