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Office Medical

Waterfront Office Park

2611 Waterfront Pkwy E Dr, Indianapolis, IN 46214

Listing Price: $16,200,000

Cap Rate
8.29%
Gross SF
200,898
Rentable SF
200,898
Price/Gross SF
$80.64
Occupancy
73.9%
Year Built
1982
Lot Size
16.60 acres

Investment Overview

The DiSalvo Group of Marcus & Millichap is pleased to present to the market the opportunity to acquire the Waterfront Office Park (Buildings I-IV) of Indianapolis, Indiana. The 200,898 Square-Foot, Four-Building, Class B Office Park is strategically located to overlook the interchange of Interstate 465, Interstate 74, and US Route 136, major thoroughfares of the Indianapolis MSA. The Suburban Office Park is well-positioned just 9-miles west of the Indianapolis CBD, and 3 miles west of the infamous Indianapolis Motor Speedway along Crawfordsville Road, the main retail corridor of the Submarket. The Waterfront Office Park, is a Suburban Office Park to the West side of Indianapolis, but is positioned just 7.6 miles from City Circle, in Downtown Indianapolis. The Indianapolis metropolitan statistical area spans 6,029 mi.2 and boasts a population of 2.075 million people. The Indianapolis Office Market is highly recognized and considered to as a stable real estate investment market, scoring well in critical categories such as: local unemployment rates, job growth projections, median salaries for college-educated workers, cost - of - living index, residential home costs, and the amount of educated workers (college degree) over age of 25. In reflection of Indianapolis excellent fundamentals across these six categories, the Market was awarded Forbes’ #2 Best City for Mid-Career Professionals in 2016. The Waterfront Office Park is ideally situated as a value-add acquisition opportunity, with a current portfolio occupancy of 73.93% and the 58,501 square-foot Building IV, operating as a single-tenant Corporate Headquarters for Calumet Specialty Products Partners through August 2024, and having held occupancy in the Subject Property since 2013. The Subject Property is offered to market asking $16,200,000, which reflects a well-below replacement cost value of $80 per square-foot and an 8.29% CAP Rate on Actual Property Financials.

Investment Highlights

  • 200,898 Square-Foot, 4 Building Class B Office Park in Indianapolis MSA
  • Strategically Located Upon Critical Corridors of Stable Midwest MSA I-465, I-74, and US 136
  • Value-Add Opportunity | 73.93% Occupancy | Well Below Replacement Cost at $80.64 per Sq. Ft.

Exclusively Listed By

Office Medical

Waterfront Office Park

Listing Price: $16,200,000

Cap Rate
8.29%
Gross SF
200,898
Rentable SF
200,898
Price/Gross SF
$80.64
Occupancy
73.9%
Year Built
1982
Lot Size
16.60 acres

Investment Highlights

  • 200,898 Square-Foot, 4 Building Class B Office Park in Indianapolis MSA
  • Strategically Located Upon Critical Corridors of Stable Midwest MSA I-465, I-74, and US 136
  • Value-Add Opportunity | 73.93% Occupancy | Well Below Replacement Cost at $80.64 per Sq. Ft.

Investment Overview

The DiSalvo Group of Marcus & Millichap is pleased to present to the market the opportunity to acquire the Waterfront Office Park (Buildings I-IV) of Indianapolis, Indiana. The 200,898 Square-Foot, Four-Building, Class B Office Park is strategically located to overlook the interchange of Interstate 465, Interstate 74, and US Route 136, major thoroughfares of the Indianapolis MSA. The Suburban Office Park is well-positioned just 9-miles west of the Indianapolis CBD, and 3 miles west of the infamous Indianapolis Motor Speedway along Crawfordsville Road, the main retail corridor of the Submarket. The Waterfront Office Park, is a Suburban Office Park to the West side of Indianapolis, but is positioned just 7.6 miles from City Circle, in Downtown Indianapolis. The Indianapolis metropolitan statistical area spans 6,029 mi.2 and boasts a population of 2.075 million people. The Indianapolis Office Market is highly recognized and considered to as a stable real estate investment market, scoring well in critical categories such as: local unemployment rates, job growth projections, median salaries for college-educated workers, cost - of - living index, residential home costs, and the amount of educated workers (college degree) over age of 25. In reflection of Indianapolis excellent fundamentals across these six categories, the Market was awarded Forbes’ #2 Best City for Mid-Career Professionals in 2016. The Waterfront Office Park is ideally situated as a value-add acquisition opportunity, with a current portfolio occupancy of 73.93% and the 58,501 square-foot Building IV, operating as a single-tenant Corporate Headquarters for Calumet Specialty Products Partners through August 2024, and having held occupancy in the Subject Property since 2013. The Subject Property is offered to market asking $16,200,000, which reflects a well-below replacement cost value of $80 per square-foot and an 8.29% CAP Rate on Actual Property Financials.

Exclusively Listed By

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