For Sale
$6,565,000

4500 181St AveLowell, IN 46356

12,160 SF Medical Office, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 12,160-square-foot medical office building in Lowell, Indiana presents a compelling investment opportunity. Located at 4500 West 181st Avenue, this single-story, 2014-constructed building boasts a 100% occupancy rate with a long-term, triple-net (NNN) lease to Franciscan Health, a highly reputable healthcare system with an AA Fitch rating. The lease, expiring January 31, 2034, includes three 10-year renewal options and features 2% annual rent increases, ensuring consistent income growth. The property generates a strong net operating income (NOI) of $410,313, representing a 6.25% capitalization rate on the $6,565,000 asking price. The building sits on a 2.17-acre lot and includes 82 parking spaces. Its prime location offers unmatched visibility from IN-2 and convenient access to I-65, serving a dense, affluent customer base of 188,856 residents with an average household income of $112,000. Landlord responsibilities are minimal, with the tenant responsible for CAM, taxes, insurance, and parking lot maintenance; the landlord is only responsible for the roof and structure (reimbursed by the tenant). This recession-resistant investment in the healthcare sector offers significant long-term potential, aligning perfectly with projected market growth. The property's permitted zoning is PB, and the APN is 45-20-19-376-011.000-008.

Highlights

  • Long-term net lease with Franciscan Physician; 9.5 years remaining, three 10-year options, 2% annual rent increases.
  • Investment-grade tenant: Franciscan Health (AA Fitch rating), a major Midwest healthcare system.
  • Recession-resistant healthcare investment; projected 10.4% annual growth (CAGR 2023-2027).
  • Excellent location with high visibility on IN-2 and proximity to I-65.
  • Minimal landlord responsibilities; tenant pays CAM, taxes, insurance, and parking lot maintenance; landlord responsible only for roof and structure (tenant-reimbursed).
  • Strong demographics; 188,856 residents in the trade area with $112,000 average household income (1.23x local average).

Property Details for 4500 181St Ave

Property type
Office properties, Medical offices
Square Feet
12,160 SF
Year Built
2014
Buildings
1
Stories
1
Lot Size (sq. ft)
94,525 SF
Units
1

Location Insight

City
Lowell
County
Lake
State
Indiana
Latitude
41.289718736896
Longitude
-87.385136709432
4500 181St Ave, Lowell, Indiana

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4500 181St Ave
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