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Office Medical

LaPorte NorthShore Health Center

508 Legacy Plaza W, La Porte, IN 46350

Listing Price: $1,088,826

Cap Rate
7.50%
Gross SF
10,750
Rentable SF
4,800
Price/Gross SF
$101.29
Occupancy
100.0%
Year Built
2001
Lot Size
0.06 acres

Investment Overview

Marcus & Millichap, on behalf of ownership, is pleased to present for sale, LaPorte NorthShore Health-Center, a 4,800-square-foot medical of?ce condo in LaPorte, Indiana. The property currently occupies two (combined) out of four suites in the of?ce building. The tenant signed a three-year gross lease in 2020, new ownership has the opportunity to negotiate a longer-lease term come 2023 if tenant decides to stay. Tenant is currently paying $20 per square foot in rent which aligns with nearby medical tenants. NorthShore Health offers a variety of services including urgent care, family practice, optometry, chiropractic, OBGYN, substance abuse, pediatrics, behavioral health, dental services, pharmacy, laboratory, and radiology. NorthShore is rapidly growing and currently operates 12 locations across Indiana. Ownership bene?ts from a stable medical tenant, tangible upside, and a good location. The subject property has excellent visibility long Legacy Parkway. Retailers in the immediate vicinity include Verizon, Buffalo Wild Wings, Dunkin' Donuts, Starbucks, GNC, Dollar General, Walgreens, Walmart, Goodwill, Fifth Third Bank, LaPorte Municipal Airport and more. Demographics in LaPorte are stable and mature with population counts of 24,000 and an average household income of $46,000. It is the county seat of LaPorte County and is known for it’s rich history, business, education, and sports.

Investment Highlights

  • Class A 4,800-Square-Foot Medical Office Condo | La Porte, Indiana
  • NorthShore Health Centers Occupies Two Combined Suites
  • Gross-Lease Structure with Three Percent Annual Rent Escalations
  • Strong Fundamentals Prior to the Pandemic and the Relative Resiliency of Medical Office Properties During the Economic Downturn have Attracted a Broader Range of Investors to the Medical Sector

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Office Medical

LaPorte NorthShore Health Center

Listing Price: $1,088,826

Cap Rate
7.50%
Gross SF
10,750
Rentable SF
4,800
Price/Gross SF
$101.29
Occupancy
100.0%
Year Built
2001
Lot Size
0.06 acres

Investment Highlights

  • Class A 4,800-Square-Foot Medical Office Condo | La Porte, Indiana
  • NorthShore Health Centers Occupies Two Combined Suites
  • Gross-Lease Structure with Three Percent Annual Rent Escalations
  • Strong Fundamentals Prior to the Pandemic and the Relative Resiliency of Medical Office Properties During the Economic Downturn have Attracted a Broader Range of Investors to the Medical Sector

Investment Overview

Marcus & Millichap, on behalf of ownership, is pleased to present for sale, LaPorte NorthShore Health-Center, a 4,800-square-foot medical of?ce condo in LaPorte, Indiana. The property currently occupies two (combined) out of four suites in the of?ce building. The tenant signed a three-year gross lease in 2020, new ownership has the opportunity to negotiate a longer-lease term come 2023 if tenant decides to stay. Tenant is currently paying $20 per square foot in rent which aligns with nearby medical tenants. NorthShore Health offers a variety of services including urgent care, family practice, optometry, chiropractic, OBGYN, substance abuse, pediatrics, behavioral health, dental services, pharmacy, laboratory, and radiology. NorthShore is rapidly growing and currently operates 12 locations across Indiana. Ownership bene?ts from a stable medical tenant, tangible upside, and a good location. The subject property has excellent visibility long Legacy Parkway. Retailers in the immediate vicinity include Verizon, Buffalo Wild Wings, Dunkin' Donuts, Starbucks, GNC, Dollar General, Walgreens, Walmart, Goodwill, Fifth Third Bank, LaPorte Municipal Airport and more. Demographics in LaPorte are stable and mature with population counts of 24,000 and an average household income of $46,000. It is the county seat of LaPorte County and is known for it’s rich history, business, education, and sports.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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