4500 181St AveLowell, IN 46356

Property Details for 4500 181St Ave

Year built

2014

Construction

TYPE NOT SPECIFIED

Lot size

2.17 AC

Property size (Sq ft)

12,114 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

45-20-19-376-011.000-008

APU

452019376011000008

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,893,094

  6.5%

  $3,593,626

  7%

  $3,336,938

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,577,848

  Geo Method

  $1,577,848

• Alternative Use

  Use

  Valuation

  Residential

  $4,456,096

  Hospitality

  $4,081,760

  Educational

  $3,395,976

  Medical

  $3,512,769

  Retail

  $5,282,630

Location Insight

City

Lowell

County

Lake

State

Indiana

Latitude

41.2904

Longitude

-87.3858

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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