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The South Bend Clinic: New Carlisle, IN 8984 E US Highway 20 7,037 SF Office Building New Carlisle, IN 46552 $2,763,285 CAD ($392.68 CAD/SF) 6.25% Cap Rate

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INVESTMENT HIGHLIGHTS

The subject property is a critical, recession-resistant asset providing essential family medicine and primary care services in New Carlisle, IN.
2% annual rent increases throughout the term and in the five, 5-year renewal options.

Population of 8,245 and average household income of $101,946 within a 5-mile radius.
Situated 14 miles west of South Bend.

EXECUTIVE SUMMARY

Situated 14 miles west of South Bend, The South Bend Clinic is positioned along County Line Road (2,214 VPD), where it is feet from the intersection with US-20 (5,980 VPD) and 2 miles north of IN-2 (18,380 VPD). Commenced in 2021, the absolute NNN lease features ±15.8 years of primary term remaining with 2% annual rent increases throughout the term and in the five, 5-year renewal options. Rent in the fourth and fifth options is initially set to Fair Market Rental Value. South Bend Clinic is adjacent to Northwest Medical Group and is across from CVS, New Carlisle Animal Clinic, 1st Source Bank, and Dollar General Market.