3419 English Ave - Medical FOR SALE


Indianapolis, IN 46201- Near Southeast
$4,445,000 USD
918-402-6394
3419 English Ave, Indianapolis, IN for Sale
$4,445,000 USD
Medical - FOR SALE
1/5
null | 6.75% Cap Rate

3419 English Ave
Indianapolis, IN 46201
Near Southeast


HIGHLIGHTS

  • NNN lease structure with minimal landlord responsibilities
  • 7+ years of remaining lease term providing near-term income security
  • Contractual rent escalations tied to CPI or 2.25% minimum
  • Operates as a hospital-licensed outpatient mental health center, part of a large regional health system
  • Located in Indianapolis, a major healthcare hub with strong medical employment base and institutional presence

OVERVIEW

The subject property is a newly redeveloped, 15,000-square-foot hospital-licensed outpatient medical facility located in Indianapolis, built in 2023 as a build-to-suit for Eskenazi Health. The asset is 100% leased to The Health and Hospital Corporation of Marion County under a 10-year NNN lease with 7.67 years remaining at the time of offering and current annual rent of $300,000. The tenant invested approximately $3.3 million into the buildout, highlighting long-term commitment to the site. The offering was marketed at $4.45 million, reflecting a 6.75% cap rate, with contractual rent increases based on CPI or a 2.25% annual minimum, including a notable step-up scheduled in 2027.

FOR SALE DETAILS

PRICE

$4,445,000 USD

PRICE/SF

$296 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sandra Eskenazi Mental Health Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

65

LAND DETAILS

LAND ACRES

6.29 AC

LAND SF

273,992 SF

ZONING

ZO01

APN/PARCEL ID

49-10-08-144-007.000-101

ASK ABOUT THIS PROPERTY

Colin CornellColliersMore Info
918-402-6394

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Colin CornellColliersMore Info
918-402-6394

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