6826 Madison AveIndianapolis, IN 46227

Property Details for 6826 Madison Ave

Year built

2017

Construction

WOOD

Lot size

1.23 AC

Property size (Sq ft)

11,925 SF

Zone code

ZO01

Property type

Medical offices

Property subtype

Medical centers

APN

49-15-07-154-009.000-500

APU

491507154009000500

Description

This exceptional investment opportunity presents a fee-simple 11,847 square foot medical office building in Indianapolis, Indiana. The property, built in 2017, is 100% occupied by Fresenius Medical Care, a globally recognized leader in dialysis services, under a Net Net Net (NNN) lease with 6.9 years remaining until the first option period. The lease commenced October 7, 2016, and expires October 31, 2031, with options for lease extensions. Annual rent bumps are 1.02% (1.017% in options). The property boasts a strong NOI of $206,342, representing a 6.00% capitalization rate based on the asking price of $3,439,000. Situated on a 1.23-acre lot with 34 parking spaces, the single-story building enjoys high visibility due to its direct frontage on Madison Avenue, a major thoroughfare with over 21,000 vehicles per day. The property benefits from its location near a Dollar General-anchored center and a new, 93-unit apartment development, indicating strong growth in the area. Multiple senior housing complexes are also nearby, further supporting the property's strategic location. The property's zoning is ZO01. The APN is 49-15-07-154-009.000-500. This is a rare opportunity to acquire a high-performing medical office building with a long-term lease to a creditworthy tenant in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,613,957

  6.5%

  $1,489,806

  7%

  $1,383,392

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,212,053

  Geo Method

  $1,212,053

• Alternative Use

  Use

  Valuation

  Residential

  $1,847,360

  Hospitality

  $1,692,172

  Educational

  $1,407,867

  Medical

  $1,456,286

  Retail

  $2,190,015

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.6667

Longitude

-86.1284

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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