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Office

The Cloverleaf Building

8355 Rockville Rd, Indianapolis, IN 46234

Listing Price: $1,820,000

Cap Rate
8.36%
Gross SF
25,735
Rentable SF
25,735
Price/Gross SF
$70.72
Lot Size
2.80 acres
Year Built
1985

Investment Overview

The DiSalvo Group of Marcus & Millichap is pleased to present for sale the Cloverleaf Office Building. Cloverleaf Office Building is a three story, roughly 25,735 square foot multi-tenant office building in Avon, Indiana. The property was built in 1985 and sits on 2.8 acres of prime real estate directly on Rockville Road. The Cloverleaf building is positioned a short mile off 465 South and is a short drive into downtown Indianapolis. The building is positioned in a very high-density area with great visibility along Rockville Road. The Rockville Road corridor on US-36 features numerous new industrial developments and an array of regional and national retailers.

The Cloverleaf Office Building has been well maintained by current ownership including a new roof in 2015. The building is currently 84.96% occupied with 9 professional and medical tenants. With a high historical occupancy and relative ease of leasing, the Cloverleaf Building should provide a stabilized, lower-risk investment for years to come. The subject property is anchored by Dominion Realty, which occupies 17.38% of the GLA. Dominion signed a lease in February of 2021 that goes until April of 2031.

The Cloverleaf Office Building provides great real estate fundamentals, with a diversified rent roll, and long-standing history of current tenants. Through Covid-19 the tenancy had zero rent concessions or abatements. The subject property is offered to the market asking $1,820,000, reflecting an 8.36% cap rate.

Investment Highlights

  • 25,735 Square-Foot Multi-Tenant Professional Office Building
  • High Historical Occupancy Rate, Currently siting at 85.98% Occupancy
  • Diversified Tenant-Mix of 9 Tenants
  • Anchored by Dominion Realty into 2031, 17.38% of GLA
  • Great Street Side Appeal Sitting Along Rockville Road With 49,995 VPD
  • Strategically Positioned 1.5 Miles from I-465 the Major Interstate System Around Indy

Exclusively Listed By

Listing Price: $1,820,000

Cap Rate
8.36%
Gross SF
25,735
Rentable SF
25,735
Price/Gross SF
$70.72
Lot Size
2.80 acres
Year Built
1985

Investment Highlights

  • 25,735 Square-Foot Multi-Tenant Professional Office Building
  • High Historical Occupancy Rate, Currently siting at 85.98% Occupancy
  • Diversified Tenant-Mix of 9 Tenants
  • Anchored by Dominion Realty into 2031, 17.38% of GLA
  • Great Street Side Appeal Sitting Along Rockville Road With 49,995 VPD
  • Strategically Positioned 1.5 Miles from I-465 the Major Interstate System Around Indy

Investment Overview

The DiSalvo Group of Marcus & Millichap is pleased to present for sale the Cloverleaf Office Building. Cloverleaf Office Building is a three story, roughly 25,735 square foot multi-tenant office building in Avon, Indiana. The property was built in 1985 and sits on 2.8 acres of prime real estate directly on Rockville Road. The Cloverleaf building is positioned a short mile off 465 South and is a short drive into downtown Indianapolis. The building is positioned in a very high-density area with great visibility along Rockville Road. The Rockville Road corridor on US-36 features numerous new industrial developments and an array of regional and national retailers.

The Cloverleaf Office Building has been well maintained by current ownership including a new roof in 2015. The building is currently 84.96% occupied with 9 professional and medical tenants. With a high historical occupancy and relative ease of leasing, the Cloverleaf Building should provide a stabilized, lower-risk investment for years to come. The subject property is anchored by Dominion Realty, which occupies 17.38% of the GLA. Dominion signed a lease in February of 2021 that goes until April of 2031.

The Cloverleaf Office Building provides great real estate fundamentals, with a diversified rent roll, and long-standing history of current tenants. Through Covid-19 the tenancy had zero rent concessions or abatements. The subject property is offered to the market asking $1,820,000, reflecting an 8.36% cap rate.

Exclusively Listed By

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