721 Rudolph Way, Greendale, IN 47025-8378

Property Details for 721 Rudolph Way

Year built

2010

Construction

WOOD

Lot size

1.44 lot acres

Property type

Medical Office Space

Property subtype

Medical centers

APN

15-07-11-300-024.003-016

APU

150711300024003016

Description

This exceptional investment opportunity presents a 6,100 square foot retail property located at 721 Rudolph Way, Greendale, Indiana 47025. The property, built in 2010, is currently 100% occupied by a credit-rated national tenant, DaVita, under a Net Net Net (NNN) lease with minimal landlord responsibilities. The lease features attractive terms, including a 3% annual rent increase, providing significant inflationary protection and strong cash flow. DaVita, a Fortune 500 company, has occupied the property since 2011 and recently extended their lease in 2020 for an additional 8 years, demonstrating a long-term commitment to the location. The property boasts a strong 9.85% cap rate and a Net Operating Income (NOI) of $113,316, making it an attractive investment in today's market. The strategic location, less than two miles from St. Elizabeth Dearborn Hospital, ensures consistent patient traffic from Indiana, Ohio, and Kentucky. This fee-simple ownership offers a passive income stream with significant upside potential due to the built-in annual rent escalations. The property's resilience to economic downturns, inherent in the healthcare sector, further enhances its investment appeal. The asking price is $1,150,414, translating to $188.59 per square foot. This is a rare opportunity to acquire a high-performing, passively managed retail asset with a strong tenant and a compelling financial profile.

Location Insight

City

Greendale

County

Dearborn

State

Indiana

Longitude

-84.8544

Latitude

39.1069

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments