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Riverview Health ER/Urgent Care | 14+ Yr NNN 10830 N Michigan Rd 10,811 SF Office Building Zionsville, IN 46077 $13,472,928 CAD ($1,246.22 CAD/SF) 6.56% Cap Rate
Investment Highlights
- 1.25% Buyside Broker Co-op Fee
- Hamilton County Holds a AAA Credit Rating
- Very Attractive Demographics | $172K Household Incomes | Premier Suburban Area of Indianapolis
- Ideal 1031 Exchange Property | 14+ Year Absolute NNN Lease to the Hamilton County Owned Health System
- 24/7 ER/Urgent Care with CT, X-Ray, Ultrasound, EKG and Lab Services | Expensive/Specialized Buildouts and Equipment
Executive Summary
Acuity Private Capital is pleased to present this highly specialized 14+ year, single-tenant, absolute NNN ER/Urgent Care property, located at 10830 N Michigan Rd in Zionsville, IN. The subject property is 10,811 SF and it was a build-to-suit project for Riverview Health (wholly owned by Hamilton County - AAA credit rated) and their minority JV operating partner Intuitive Health in 2020.
This class A property features: trauma/ER/urgent care beds, an on-site laboratory, on-site CT scan, X-ray, ultrasound & EKG, emergency room physician staff, 24/7 ER services & urgent care services 7 days a week from 7 AM-10 PM. The subject property is additionally located in one of the wealthiest areas in the state of Indiana, with $172K household incomes.
This very rare long-term NNN hospital leased investment is an ideal 1031 exchange property, offering an investor stability, attractive initial and long-term yields, and no landlord responsibilities.
This class A property features: trauma/ER/urgent care beds, an on-site laboratory, on-site CT scan, X-ray, ultrasound & EKG, emergency room physician staff, 24/7 ER services & urgent care services 7 days a week from 7 AM-10 PM. The subject property is additionally located in one of the wealthiest areas in the state of Indiana, with $172K household incomes.
This very rare long-term NNN hospital leased investment is an ideal 1031 exchange property, offering an investor stability, attractive initial and long-term yields, and no landlord responsibilities.
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Office
Property Subtype
Medical
Building Size
10,811 SF
Building Class
A
Year Built
2020
Price
$13,472,928 CAD
Price Per SF
$1,246.22 CAD
Cap Rate
6.56%
NOI
$883,250 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
10,811 SF
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Riverview Health Emergency Room & Urgent...
- Health Care and Social Assistance
- 10,811 SF
- -
- Triple Net
- Oct 2040
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Riverview Health Emergency Room & Urgent... | Health Care and Social Assistance | 10,811 SF | - | Triple Net | Oct 2040 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 29-13-06-000-030.103-018 | Improvements Assessment | $3,624,879 CAD |
| Land Assessment | $1,682,738 CAD | Total Assessment | $5,307,617 CAD |
Property Taxes
Parcel Number
29-13-06-000-030.103-018
Land Assessment
$1,682,738 CAD
Improvements Assessment
$3,624,879 CAD
Total Assessment
$5,307,617 CAD
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Riverview Health ER/Urgent Care | 14+ Yr NNN | 10830 N Michigan Rd
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