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INVESTMENT HIGHLIGHTS
Tremendous Access & Visibility - The portfolio is located in the heart of north Indianapolis’ premier medical corridor. This well-maintained medical office building offers an ideal environment for both physicians and patients, with easy access and ample parking. Positioned along North Meridian Street, the property benefits from excellent visibility and strong traffic counts (>30,000 VPD), ensuring a steady flow of potential patients and healthcare professionals.
Strategic Medical Corridor Location - The properties are strategically positioned within a premier outpatient medical corridor in Indianapolis. The property benefits from proximity to major healthcare providers, including Ascension St. Vincent and IU Health, driving strong demand for medical office space. Its location along the North Meridian Corridor ensures high visibility and accessibility, making it an attractive option for continued leasing activity with medical tenants.
Attractive Annual Increases - Each lease features attractive annual increases between 2-3% through the remaining primary terms, resulting in a projected average cap rate of 9.75% over the next 10 years. Rental increases offer a hedge against inflation, income growth, and the potential for value appreciation.
Superior Demographic Base - The population within a 5-mile radius of the property is 182,328 with growth anticipated over the next five years per ESRI analytics. Average household income in this area is above-average, with an annual income of $133,302.
Anchored By Shadeland Anesthesia & Pain - Shadeland occupies 16,720 square feet of space, being the sole tenant in the fully leased out 8805 Building. That is roughly 23.1% of the gross leasable area across all three buildings..
