Skip to main content

Office Medical

White River Medical Offices

1603 S Scatterfield Rd, Anderson, IN 46016

Listing Price: $1,695,000

Cap Rate
9.00%
Gross SF
12,273
Rentable SF
12,273
Price/Gross SF
$138.11
Year Built
2003
Lot Size
1.51 acres

Investment Overview

Marcus & Millichap is pleased to present for sale to the market White River Medical Offices. The property is in Anderson, Indiana and is a part of the Indianapolis MSA. Indianapolis is the 9th Largest Midwest MSA, while Anderson is the county seat of Madison County and located along I-69 on the Northeast side. With over 55,000 residents, Anderson is a growing Indianapolis Submarket anchored by Anderson University and Harrahs Hoosier Park Casino.

Constructed in 2003, the White River Medical Offices is a 12,273 square-foot, two building medical office park strategically positioned on the hard corner out-lot to the White River Athletic Club, along State Road 9, which is also known as South Satterfield Road. The subject properties benefit from exposure to over 24,000 vehicles per day. White River Medical Offices is 100% occupied by three tenants on NNN Leases. The White River Medical Offices are anchored by National Mentor Healthcare, who operates as a single-tenant in the 1607 building and occupies 50.98% of the NLA, recently extended their lease for a 5-year fixed term. They are joined by long-standing anchor tenant, Indiana Eye Surgeons, who occupies 31.6% of the Net Leasable Area, began leasing the space in 2003 and has executed an early extension through May 2026.

The White River Medical Offices presents as an excellent, bite-sized acquisition opportunity for any investor seeking limited landlord responsibilities within stabilized, quality medical-office product with a across a staggered lease rollover schedule with high yield. The Subject Properties are priced to sell at $1.695M, reflecting a 9.00% CAP Rate after applying a 5% market vacancy factor despite 82.58% of the Subject Property under lease into 2026. Additional upside is still available in the raising rental rates, future insertion of annual rent bumps, and capitalizing on signage income for the pylon sign for the entire park along State Road 9.

Investment Highlights

  • Eye Surgeons of Indiana Anchored since 2003 Development | 31.6% NLA Through May-2026
  • National Mentor - 50.98% NLA | Recent 5-Year Extension into 2026 | Below Market Rent
  • Hard Corner Parcel Strategically Located Along State Road 9 | 24,000+ VPD
  • Class B 12,273 Square-Foot, Two-Building Medical Offices| Anderson/Indianapolis MSA
  • 100% Occupancy on Exclusively NNN Leases | Limited Landlord Responsibilities

Exclusively Listed By

Office Medical

White River Medical Offices

Listing Price: $1,695,000

Cap Rate
9.00%
Gross SF
12,273
Rentable SF
12,273
Price/Gross SF
$138.11
Year Built
2003
Lot Size
1.51 acres

Investment Highlights

  • Eye Surgeons of Indiana Anchored since 2003 Development | 31.6% NLA Through May-2026
  • National Mentor - 50.98% NLA | Recent 5-Year Extension into 2026 | Below Market Rent
  • Hard Corner Parcel Strategically Located Along State Road 9 | 24,000+ VPD
  • Class B 12,273 Square-Foot, Two-Building Medical Offices| Anderson/Indianapolis MSA
  • 100% Occupancy on Exclusively NNN Leases | Limited Landlord Responsibilities

Investment Overview

Marcus & Millichap is pleased to present for sale to the market White River Medical Offices. The property is in Anderson, Indiana and is a part of the Indianapolis MSA. Indianapolis is the 9th Largest Midwest MSA, while Anderson is the county seat of Madison County and located along I-69 on the Northeast side. With over 55,000 residents, Anderson is a growing Indianapolis Submarket anchored by Anderson University and Harrahs Hoosier Park Casino.

Constructed in 2003, the White River Medical Offices is a 12,273 square-foot, two building medical office park strategically positioned on the hard corner out-lot to the White River Athletic Club, along State Road 9, which is also known as South Satterfield Road. The subject properties benefit from exposure to over 24,000 vehicles per day. White River Medical Offices is 100% occupied by three tenants on NNN Leases. The White River Medical Offices are anchored by National Mentor Healthcare, who operates as a single-tenant in the 1607 building and occupies 50.98% of the NLA, recently extended their lease for a 5-year fixed term. They are joined by long-standing anchor tenant, Indiana Eye Surgeons, who occupies 31.6% of the Net Leasable Area, began leasing the space in 2003 and has executed an early extension through May 2026.

The White River Medical Offices presents as an excellent, bite-sized acquisition opportunity for any investor seeking limited landlord responsibilities within stabilized, quality medical-office product with a across a staggered lease rollover schedule with high yield. The Subject Properties are priced to sell at $1.695M, reflecting a 9.00% CAP Rate after applying a 5% market vacancy factor despite 82.58% of the Subject Property under lease into 2026. Additional upside is still available in the raising rental rates, future insertion of annual rent bumps, and capitalizing on signage income for the pylon sign for the entire park along State Road 9.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower