1312 Professional Blvd 24,093 SF 60% Leased Office Building Evansville, IN 47714 $6,363,594 CAD ($264.13 CAD/SF) 9.58% Cap Rate

Jennifer Stein Real Estate Inc., in conjunction with Zeustra Healthcare Real Estate Advisors (out of state broker) is pleased to present the exclusive opportunity to acquire 1312 Professional Blvd in Evansville, Indiana—a ±24,093-square-foot multi-tenant medical office building anchored 60% by DaVita Dialysis, with the balance of the space built out and previously occupied by a clinical medical user.
This offering represents a compelling opportunity to acquire a healthcare facility with immediate in-place income, backed by a corporate-guaranteed lease from DaVita Inc., a
Fortune 500 company and one of the nation’s leading kidney care providers. DaVita has operated at the property since 2005 under a triple net (NNN) lease featuring 2% annual
rent escalations, a 4% management fee, and three (3) remaining 5-year renewal options, each with continued 2% annual rent increases. The long-term tenancy and essential nature of the services offered ensure consistent patient traffic and ongoing tenant stability.
The vacant portion of the building is fully built out for medical use, providing immediate leasing potential for clinical providers seeking proximity to Ascension St. Vincent Hospital, located less than one mile away. The property’s strategic location within a dense medical corridor, along with strong regional healthcare demand, positions it well for accelerated lease-up.
Offered at $4.6 million, the investment is underwritten at a pro forma net operating income (NOI) of $440,882, which incorporates a lease-up assumption of $19/SF NNN and a conservative 10% vacancy risk factor. This structure presents an opportunity to acquire a partially stabilized medical office asset at a compelling basis, with limited downside and strong long-term growth potential.
1312 Professional Blvd is ideally suited for investors seeking durable, inflation-hedged cash flow, supported by a national credit anchor tenant, existing medical infrastructure, and a location within one of Indiana’s most established healthcare markets.