2608 6Th StVincennes, IN 47591

Property Details for 2608 6Th St

Year built

1971

Construction

WOOD

Lot size

1.84 AC

Property size (Sq ft)

7,079 SF

Property type

Commercial real estate

APN

42-12-15-303-084.000-022

APU

421215303084000022

Description

This exceptional investment opportunity presents a brand-new, 7,120-square-foot medical office building in Vincennes, Indiana. Located at 2608 N 6th St, this single-tenant property boasts a 20-year absolute triple-net (NNN) lease with a prominent plasma donation center operator. The lease commenced upon closing and features a strong 7.50% cap rate based on a current annual net operating income (NOI) of $316,626. The asking price is $4,221,678, translating to a price per square foot of $592.93. Built in 2023, the property sits on a 0.99-acre lot and enjoys 100% occupancy. The lease includes four, five-year renewal options, extending the potential lease term to 40 years. Crucially, annual rent increases of 2% are scheduled to commence in year six and continue throughout the base term and renewal options, providing consistent income growth. The lease is further secured by a corporate guarantee from a company with a significant national presence and expansion plans. This presents a compelling opportunity for long-term, passive income generation in a stable medical sector. The property's location in Knox County, Indiana, offers convenient access to the local community. This is a rare chance to acquire a high-quality, net-leased asset with substantial long-term growth potential.

• Alternative Use

  Use

  Valuation

  Residential

  $1,319,129

  Hospitality

  $1,208,315

  Educational

  $1,005,304

  Medical

  $1,039,878

  Retail

  $1,563,806

Location Insight

City

Vincennes

County

Knox

State

Indiana

Latitude

38.6906

Longitude

-87.5036

CBSA code

47180

CBSA name

VINCENNES, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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