1312 Professional Blvd - Medical FOR SALE


Evansville, IN 47714- East Evansville
$4,600,000 USD
717-514-6390
1312 Professional Blvd, Evansville, IN for Sale
$4,600,000 USD
Medical - FOR SALE
1/25
null | 9.58% Cap Rate

1312 Professional Blvd
Evansville, IN 47714
East Evansville


HIGHLIGHTS

  • DaVita Inc. Corporate Guarantee Occupies 60% (NNN) Lease Structure
  • Three Remaining 5-Year Renewal Options with 2% Annual Increases. Built-in contractual rent escalations
  • 40% Vacant, Fully Built-Out for Medical Use - Less Than One Mile from Ascension St. Vincent Hospital

OVERVIEW

Zeustra Healthcare Real Estate Advisors is pleased to present the exclusive opportunity to acquire 1312 Professional Blvd in Evansville, Indiana—a ±24,093-square-foot multi-tenant medical office building anchored 60% by DaVita Dialysis, with the balance of the space built out and previously occupied by a clinical medical user. This offering represents a compelling opportunity to acquire a healthcare facility with immediate in-place income, backed by a corporate-guaranteed lease from DaVita Inc., a Fortune 500 company and one of the nation’s leading kidney care providers. DaVita has operated at the property since 2005 under a triple net (NNN) lease featuring 2% annual rent escalations, a 4% management fee, and three (3) remaining 5-year renewal options, each with continued 2% annual rent increases. The long-term tenancy and essential nature of the services offered ensure consistent patient traffic and ongoing tenant stability. The vacant portion of the building is fully built out for medical use, providing immediate leasing potential for clinical providers seeking proximity to Ascension St. Vincent Hospital, located less than one mile away. The property’s strategic location within a dense medical corridor, along with strong regional healthcare demand, positions it well for accelerated lease-up. Offered at $4.6 million, the investment is underwritten at a pro forma net operating income (NOI) of $440,882, which incorporates a lease-up assumption of $19/SF NNN and a conservative 10% vacancy risk factor. This structure presents an opportunity to acquire a partially stabilized medical office asset at a compelling basis, with limited downside and strong long-term growth potential. 1312 Professional Blvd is ideally suited for investors seeking durable, inflation-hedged cash flow, supported by a national credit anchor tenant, existing medical infrastructure, and a location within one of Indiana’s most established healthcare markets.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$191 USD /SF

CAP RATE

9.58%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

95

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,230 SF

ZONING

-

APN/PARCEL ID

82-06-35-016-112.002-027

ASK ABOUT THIS PROPERTY

Nick MyersZeustra Real Estate Investment ServicesMore Info
717-514-6390

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Nick MyersZeustra Real Estate Investment ServicesMore Info
717-514-6390

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.