800 Highlander Point Dr - Office FOR SALE


Floyds Knobs, IN 47119
$6,160,000 USD
312-342-4495
800 Highlander Point Dr, Floyds Knobs, IN for Sale
$6,160,000 USD
Office - FOR SALE
1/17
null | 6.73% Cap Rate

800 Highlander Point Dr
Floyds Knobs, IN 47119


HIGHLIGHTS

  • 100% occupied medical office building anchored by Baptist Health (Fitch A+)
  • Four tenants with a WALT of 4.81 years (as of 11/1/25)
  • Baptist Health recently expanded their Family Medicine practice at the property and contributed over $1,000,000 of their own capital
  • No vacancy at property over last ~9 years
  • Roof replacement in 2023 | HVAC units replaced over last 9 years
  • Large parcel measuring ~2.2 acres with ~160 parking spaces providing parking ratio of 6.81:1,000

OVERVIEW

Buyer Registration Link: https://form.jotform.com/252374319559163 Jennifer Stein Real Estate, Inc., acting as in-state broker of record, and Physician Real Estate Capital Advisors, LLC, acting as out-of-state cooperating broker, have been retained as the exclusive advisor for the disposition of the 100% occupied Baptist Health Medical Building located outside of Louisville, Kentucky in Floyds Knobs, Indiana. The 23,680 square foot, three-story, multi-tenant, medical office building was built in 1988 and has benefited from numerous improvements over the years. The property is positioned on a large, 2.2 acre parcel, with 160 parking spaces providing a 6.81:1,000 parking ratio. In 2023, Baptist Health (Fitch A+), who occupies 66% of the asset, invested over $1,000,000 into the expansion of their Family Medicine services provided on the second floor. The main building roof, and roof above the urgent care on the lower level, were replaced in 2023. All HVAC units have been systematically replaced over the last ~8 years. Since the seller acquired this asset ~9 years ago, the building has not experienced any vacancy. Baptist Health occupies an urgent care on the first floor and offers family medicine on the second and third floors. Chase Bank, a long-term occupant benefiting from five drive-thru lanes, recently updated their suite and executed a 5-year renewal. A chiropractor and orthodontist occupy the balance of the building. All leases are NNN with tenants reimbursing their pro-rata share of CAM, real estate taxes, and insurance. Tenants are also responsible for the reimbursement of a market-rate property management fee. The weighted average lease term remaining, as of October 1, 2025, will be 4.81 years. All medical tenants include 3.00% annual rent escalations while Chase Bank is operating under a flat lease that will escalate 10% in their 5-year renewal option. Floyds Knobs, Indiana is located across the Ohio River just 10 miles northwest of Downtown Louisville, Kentucky. The community is notably affluent with household incomes roughly 1.8-2 times higher than county and state averages. Considered a “commuter suburb”, residents benefit from a 15–20-minute drive to downtown Louisville and the airport. Buyer Registration Link: https://form.jotform.com/252374319559163

FOR SALE DETAILS

PRICE

$6,160,000 USD

PRICE/SF

$237 USD /SF

CAP RATE

6.73%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Baptist Health Medical Building

PROPERTY TYPE

Office

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

160

LAND DETAILS

LAND ACRES

2.2 AC

LAND SF

95,832 SF

ZONING

Commercial

APN/PARCEL ID

22-04-03-000-238.000-006

ASK ABOUT THIS PROPERTY

Scott NiedergangPhysician Real Estate Capital Advisors, LLCMore Info
312-342-4495

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Scott NiedergangPhysician Real Estate Capital Advisors, LLCMore Info
312-342-4495

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