Office for Sale
Catylist Listing ID: 30654875
Property Subtypes: Medical, Net Leased
Building Size (RSF): 8,123 SF
Gross Building Area: See Agent
Gross Land Area: 1.87 Acres
Sale Price: $3,400,000
Unit Price: $418.56 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 5.03%
Last Updated: 10/4/2021

Overview / Comments

TRIO Commercial Property Group has been selected as the exclusive broker to sell this 8,138 SF, investment grade, corporate guaranteed, Fresenius Medical Care investment property located in New Albany, Indiana (Louisville, KY MSA).​ The tenant has over 13.5 years remaining in their initial term.​ The lease features 10% rental increases every five years throughout the initial term and option periods. The 15 year Lease commenced on June 1, 2019 and expires on May 31, 2034 with three – 5 year options to extend the Lease. The lease is corporate guaranteed by Fresenius Medical Care and is modified NNN with landlord responsibilities limited to roof, structure, and parking lot.

This facility is located off of Mt. Tabor Rd. (9,000 k ADT) and in close proximity to I-265 (41,000 ADT) in Northwestern Floyd County (New Albany) and has strong demographics with the population of 47,323 and an average household income of $70,420 within a 3-mile radius of the subject site.

Fresenius Medical Care has become one of the largest renal care platforms around the globe through its network of over 3,900 dialysis clinics.​ This state-of-the-art location was recently completed and features brand new, high quality construction.​

Current Tenants

Tenant Business Name Fresenius Medical Care
Website URL
Industry Type Health Care and Social Assistance
Is Renting? Yes
SF of Space Occupied 8,123 SF
Current Rent $172,243 PSF (Annual)
Lease Expiration 4/2034
Escalations 10% every 5 years
Options 3- 5 year options

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-02-300-090.000-008
Zoning: IND
Property Visibility: Excellent
Year Built: 2019
Parking Type: Surface
Total Parking Spaces: 35

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,101 49,944 111,912
Median Age: 37.61 38.12 38.44
Households: 3,322 20,612 45,291
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