3777 Haley Dr Newburgh, IN 47630-2608
- Medical offices
- 14,796 SF
- 1.69 lot acres
Feb 20, 2025
Current Use by Public Records
- Morgan Strumpfer / Psychologist
- LittleStar Center Newburgh / Learning Center
- LittleStar ABA Therapy Newburgh / Learning Center / Disability Services And Support Organization
Property Details for 3777 Haley Dr
- Year built
- 1998
- Construction
- WOOD
- Lot size
- 1.69 lot acres
- Property size
- 14,796 SF
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 87-12-23-303-006.000-019
- APU
- 871223303006000019
Description
This exceptional investment opportunity presents a 14,796-square-foot Class B executive office building located at 3777 Haley Drive, Newburgh, Indiana, 47630. The property, built in 1998 and renovated in 2024, sits on a 1.69-acre lot (APN: 87-12-23-303-06.000-019) and boasts excellent visibility from State Road 261. Currently 100% occupied by a single tenant under a NNN lease, this property offers a stable cash flow with a net operating income (NOI) of $62,500 and a 7.27% cap rate. The asking price is $860,000, translating to $58.12 per square foot. The tenant recently signed a 7+ year renewal in 2024, demonstrating strong tenancy. The building features 9,300 square feet on the first floor and benefits from a new roof installed in 2023. The property is zoned C-4, providing flexibility for future use. This offering presents a compelling opportunity to acquire a well-maintained, high-performing asset significantly below replacement cost with below-market rent. The property's strong tenant history and favorable lease terms make it an attractive investment for discerning buyers.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newburgh
- County
- Warrick
- State
- Indiana
- Longitude
- -87.3885
- Latitude
- 37.9803
- CBSA code
- 21780
- CBSA name
- EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA
