3419 English AveIndianapolis, IN 46201

Property Details for 3419 English Ave

Property size (Sq ft)

15,000 SF

Property type

Office properties

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a fee-simple interest in a newly renovated, 15,000-square-foot medical office building located at 3419 English Ave, Indianapolis, IN 46201. The property boasts a single-tenant, net-lease agreement with Eskenazi Health, a highly creditworthy tenant (AA+ rating from S&P and Aa1 from Moody's), extending until November 30, 2033. This represents a remaining lease term of nine years. The building, constructed in 2023, serves as Eskenazi Health's largest Mental Health Primary Care & Opioid Treatment Facility. The asking price is $4,615,000, translating to a price per square foot of $307.67 and a compelling 6.50% capitalization rate based on a net operating income (NOI) of $300,000. Rental increases are projected based on the Consumer Price Index (CPI) data from the past three years. The property is a single-story building, fully occupied (100% occupancy), and represents a below-replacement-cost acquisition. Eskenazi Health, the public hospital division of the Health & Hospital Corporation of Marion County, has invested over $3.4 million in tenant improvements. The total redevelopment cost was $6,849,000. This property offers a strong, stable investment with a long-term lease and a tenant with an exceptional credit rating. The property is classified as a hospital-licensed outpatient center and primary care facility.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7587

Longitude

-86.1089

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