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State of Indiana Government Building 2007 N Walnut St 5,686 SF 100% Leased Office Building Hartford City, IN 47348 $959,351 CAD ($168.72 CAD/SF) 8% Cap Rate
Investment Highlights
- 100% Occupied by Indiana Bureau of Motor Vehicles (BMV) and Division of Family Resources (DFR)
- ndiana maintains BMV branches and DFR offices in each county, offering an incoming investor a high renewal probability
- Hartford City is the county seat of Blackford County and serves as the primary commercial and governmental hub for the surrounding rural communities
- N Walnut Street is the main north and south corridor in Hartford City and is filled with local, regional and national retailers
Executive Summary
The Klink Group of Marcus & Millichap is pleased to present the opportunity to acquire a 100% occupied government-leased building in Hartford City, Indiana, anchored by two essential State of Indiana agencies: the Bureau of Motor Vehicles (BMV) and the Division of Family Resources (DFR). Backed by the credit of the State, the property delivers stable, recession-resistant income driven by non-discretionary services that are required to be accessible within each county.
Offered at an attractive price point, the asset provides a compelling combination of yield and security. Additionally, the property benefits from no real estate tax exposure, as taxes are either reimbursed or abated for state-leased properties, enhancing net operating income and reducing landlord expenses.
Offered at an attractive price point, the asset provides a compelling combination of yield and security. Additionally, the property benefits from no real estate tax exposure, as taxes are either reimbursed or abated for state-leased properties, enhancing net operating income and reducing landlord expenses.
Property Facts
Sale Type
Investment
Property Type
Building Size
5,686 SF
Year Built/Renovated
1999/2019
Price
$959,351 CAD
Price Per SF
$168.72 CAD
Cap Rate
8%
NOI
$76,748 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,686 SF
Building FAR
0.09
Lot Size
1.45 AC
Parking
58 Spaces (10.2 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
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State of Indiana Government Building | 2007 N Walnut St
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