3520 Two Mile House RdColumbus, IN 47201

Property Details for 3520 Two Mile House Rd

Year built

1982

Construction

WOOD

Property size (Sq ft)

31,959 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

03-95-27-220-900.123-005

APU

39527220900123005

Description

This exceptional 3,700 square foot Class B medical/traditional office building, located at 3520 W Two Mile House Road in Columbus, Indiana, presents a compelling investment opportunity. Currently 100% occupied by a strong, multi-state tenant under a triple-net (NNN) lease with a remaining term of 2.7 years (commencing August 1, 2024, and expiring July 31, 2027). The lease includes annual rent bumps of 2.5%, ensuring consistent income growth. The property boasts a substantial Net Operating Income (NOI) of $43,050, yielding a 7.18% cap rate. Built in 1985 and extensively renovated in 2021, the building sits on a 3.37-acre lot zoned for commercial strip use. The tenant has two additional 3-year lease options, providing long-term stability and predictable cash flow. This prime location in Bartholomew County (zip code 47201) is surrounded by numerous regional and national businesses, offering excellent visibility and accessibility. The property's strong tenant, combined with its favorable lease terms and attractive financial metrics, makes it an ideal addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $5,795,163

  6.5%

  $5,349,381

  7%

  $4,967,282

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,932,598

  Geo Method

  $6,932,598

• Alternative Use

  Use

  Valuation

  Residential

  $4,512,403

  Hospitality

  $4,133,337

  Educational

  $3,438,888

  Medical

  $3,557,156

  Retail

  $5,349,381

Location Insight

City

Columbus

County

Bartholomew

State

Indiana

Latitude

39.1991

Longitude

-85.9643

CBSA code

18020

CBSA name

COLUMBUS, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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