Office

Hillcrest Office Building

981 State Rd 46, Batesville, IN 47006

Listing Price: $325,000

Cap Rate
8.31%
Gross SF
3,936
Rentable SF
3,936
Price/Gross SF
$82.57
Lot Size
0.71 acres
Year Built
1982

Investment Overview

Marcus & Millichap has been retained as exclusive advisor to market for sale the Hillcrest Office Building, a 3,936-square foot office building located in Batesville, Indiana. Hillcrest Office Building is 100% occupied by local businesses and professional services, most of which have been at the property for over eight years. The Batesville community has strong economic drivers and serves as corporate headquarters to Hillenbrand Industries, Inc. (NYSE:HRC), a $4.3 billion global diversified industrial company, and the Batesville Casket Company. Hillrom Medical Technology Company is also a major employer within the community Built in 1982, the subject building sits on 0.71 acres directly at a lighted intersection along State Road 46 East, adjacent to the Hillcrest Golf & Country Club. Although most of the tenants have been at the property for over eight years, the property currently operates under short-term gross leases which should attract an incoming investor seeking immediate cash flow with an opportunity to capitalize on value-add attributes through rental rate increases over a typical investment holding period.

Investment Highlights

  • Batesville Community Has Strong Economic Employment – Hillenbrand Industries, Batesville Casket Company & Hillrom Medical Technology Company
  • 100% Occupied With Established Businesses And Professional Services
  • Short-term Leases Allow For Owner-user Potential And Upside Through Lease Negotiation On Rent And Term
  • Majority Of The Interior Office Spaces Have Gone Through Renovations And Updates
  • Located Directly On State Road 46 East, The Main Thoroughfare That Leads Directly To Interstate 70
  • Majority Of Tenants Have Been At The Property For Over Eight Years, Showing Strong Commitment To The Location

Exclusively Listed By

Listing Price: $325,000

Cap Rate
8.31%
Gross SF
3,936
Rentable SF
3,936
Price/Gross SF
$82.57
Lot Size
0.71 acres
Year Built
1982

Investment Highlights

  • Batesville Community Has Strong Economic Employment – Hillenbrand Industries, Batesville Casket Company & Hillrom Medical Technology Company
  • 100% Occupied With Established Businesses And Professional Services
  • Short-term Leases Allow For Owner-user Potential And Upside Through Lease Negotiation On Rent And Term
  • Majority Of The Interior Office Spaces Have Gone Through Renovations And Updates
  • Located Directly On State Road 46 East, The Main Thoroughfare That Leads Directly To Interstate 70
  • Majority Of Tenants Have Been At The Property For Over Eight Years, Showing Strong Commitment To The Location

Investment Overview

Marcus & Millichap has been retained as exclusive advisor to market for sale the Hillcrest Office Building, a 3,936-square foot office building located in Batesville, Indiana. Hillcrest Office Building is 100% occupied by local businesses and professional services, most of which have been at the property for over eight years. The Batesville community has strong economic drivers and serves as corporate headquarters to Hillenbrand Industries, Inc. (NYSE:HRC), a $4.3 billion global diversified industrial company, and the Batesville Casket Company. Hillrom Medical Technology Company is also a major employer within the community Built in 1982, the subject building sits on 0.71 acres directly at a lighted intersection along State Road 46 East, adjacent to the Hillcrest Golf & Country Club. Although most of the tenants have been at the property for over eight years, the property currently operates under short-term gross leases which should attract an incoming investor seeking immediate cash flow with an opportunity to capitalize on value-add attributes through rental rate increases over a typical investment holding period.

Exclusively Listed By

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