For Sale
$5,500,000

521 Mccarty StIndianapolis, IN 46225

$5.5M, 6.82% Cap Rate, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
115
Exceptional investment opportunity: a 25,476 sq ft, two-story medical office building in Indianapolis, IN, situated on a 0.4-acre lot at 521 W McCarty St, zip code 46225. Currently 100% occupied under a NNN lease with a corporate guarantee by the Marion County Coroner's Office, expiring December 31, 2024. The building, constructed in 1954 and renovated in 2002, features 17,203 sq ft of above-grade space and an 8,273 sq ft mostly finished basement, accessible via elevator. Amenities include 35 parking spaces, one loading dock, one dock-high door, and a 13-foot ceiling height. The property is zoned I-4 and offers significant redevelopment potential, located between Lucas Oil Stadium and Eleven Park. The building includes a 20'x30' service garage and a glass entry vestibule. The asking price is $5,500,000, representing a $215.89 price per square foot and a 6.82% cap rate with a current NOI of $375,000. This is a single-tenant, institutional-grade investment with a strong tenant and excellent location.

Highlights

  • 25,476 SF two-story medical office building in Indianapolis, IN.
  • 100% occupied by Marion County Coroner's Office under a NNN lease with corporate guarantee, expiring 12/31/2024.
  • Located on a 0.4-acre lot at 521 W McCarty St, Indianapolis, IN 46225.
  • Features 17,203 SF above-grade space and 8,273 SF mostly finished basement, accessible via elevator.
  • Amenities include 35 parking spaces, loading dock, dock-high door, and 13-foot ceilings.
  • Zoned I-4, offering redevelopment potential near Lucas Oil Stadium and Eleven Park.

Property Details for 521 Mccarty St

Property type
Refrigeration & cold storage, Specialty properties
Square Feet
25,476 SF
Class
B
Year Built/Renovated
1954/2002
Buildings
1
Stories
2
Lot Size (sq. ft)
17,424 SF

Location Insight

City
Indianapolis
County
Marion
State
Indiana
Latitude
39.75672421
Longitude
-86.16807453
521 Mccarty St, Indianapolis, Indiana

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521 Mccarty St
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