3723 Franklin St - Medical FOR SALE
Michigan City, IN 46360 |
3723 Franklin St
Michigan City, IN 46360
HIGHLIGHTS
- There are minimal landlord responsibilities throughout the lease term, offering a passive investment for both local and national investors.
- A newly constructed Double Track train line, costing $649 million, now links Michigan City to the South Shore Line passenger train service
- The property is strategically located less than three miles from the Franciscan Health Michigan City hospital.
- There are just under 5 years remaining on the lease with 2% annual increases and one, 5-year option to extend.
- Franciscan Health has a “AA” Fitch rating with over 20,000 employees and a number of nationally recognized Centers of Health Care Excellence
- Franciscan Alliance is among the largest and most respected physician networks in the Midwest, with 12 hospital campuses
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Credit Tenant | Leased to Franciscan Health
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Medical
ADD'L SUBTYPES
Storefront Retail/Office, Health Club, Office/Residential
TOTAL BUILDING SIZE
14132
STORIES
2
BUILDING CLASS
C
YEAR BUILT
1954
SPRINKLERS
-
PARKING SPACES
30
LAND DETAILS
LAND ACRES
1.04 AC AC
LAND SF
45,302 SF
ZONING
-
APN/PARCEL ID
46-05-05-426-027.000-009
