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Office

NORTH CENTRAL AVE OFFICE

531 N Central Ave, Connersville, IN 47331

Listing Price: $500,000

Cap Rate
9.00%
Gross SF
20,700
Rentable SF
20,700
Price/Gross SF
$24.15
Lot Size
0.41 acres
Year Built
1937

Investment Overview

Marcus & Millichap is pleased to present to the market, for sale, the North Central Ave Office—a 20,700-square-foot, multi-tenant professional office building located in downtown Connersville, Indiana. The North Central Ave Office is a rare, historic building originally built in the 1900s that has been extremely well-maintained over the years. Currently, the property is occupied by a diverse mix of medical and professional users.

Market: The North Central Ave Office Building is situated in the Indiana South Submarket. The Indiana South MSA has a reported population of 16,000 as of 2023 and is growing at an annual rate of 2%. Positioned as a community-serving, Class C professional office building, it is located within the historic downtown district of Connersville.
Location: Strategically placed in downtown Connersville along N Grand Ave and U.S. Route 44, this heavily trafficked corridor provides short access to Interstates 70 and 465. The building's location along Interstate 70 offers convenient access to regional transportation networks. Additionally, the Whitewater River, flowing through the city, offers recreational opportunities for residents and visitors.
Stable Current Tenant Mix: The North Central Ave Office is currently 78.5% occupied by a strong mix of professional tenants that have demonstrated historic long-term commitment in this location as well as a continued demand from a market that is continuously growing.
With a stabilized in-place cashflow and vacancy upside for a new owner, North Central Ave Office is a rare opportunity for an investor to capitalize on strong cash flow with upside potential in leasing the vacant units.

Investment Highlights

  • Upside Potential in Vacancy Lease-Up
  • Located in Downtown Connersville
  • Significant Specialized Mix of Professional Tenants
  • A Meticulously Maintained Historic Building with Modern Amenities.
  • Prime Location with Superior Connectivity to Major Interstates.

Exclusively Listed By

Office

NORTH CENTRAL AVE OFFICE

Listing Price: $500,000

Cap Rate
9.00%
Gross SF
20,700
Rentable SF
20,700
Price/Gross SF
$24.15
Lot Size
0.41 acres
Year Built
1937

Investment Highlights

  • Upside Potential in Vacancy Lease-Up
  • Located in Downtown Connersville
  • Significant Specialized Mix of Professional Tenants
  • A Meticulously Maintained Historic Building with Modern Amenities.
  • Prime Location with Superior Connectivity to Major Interstates.

Investment Overview

Marcus & Millichap is pleased to present to the market, for sale, the North Central Ave Office—a 20,700-square-foot, multi-tenant professional office building located in downtown Connersville, Indiana. The North Central Ave Office is a rare, historic building originally built in the 1900s that has been extremely well-maintained over the years. Currently, the property is occupied by a diverse mix of medical and professional users. Market: The North Central Ave Office Building is situated in the Indiana South Submarket. The Indiana South MSA has a reported population of 16,000 as of 2023 and is growing at an annual rate of 2%. Positioned as a community-serving, Class C professional office building, it is located within the historic downtown district of Connersville. Location: Strategically placed in downtown Connersville along N Grand Ave and U.S. Route 44, this heavily trafficked corridor provides short access to Interstates 70 and 465. The building's location along Interstate 70 offers convenient access to regional transportation networks. Additionally, the Whitewater River, flowing through the city, offers recreational opportunities for residents and visitors. Stable Current Tenant Mix: The North Central Ave Office is currently 78.5% occupied by a strong mix of professional tenants that have demonstrated historic long-term commitment in this location as well as a continued demand from a market that is continuously growing. With a stabilized in-place cashflow and vacancy upside for a new owner, North Central Ave Office is a rare opportunity for an investor to capitalize on strong cash flow with upside potential in leasing the vacant units.

Exclusively Listed By

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