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16665232
16665231

2 N Madison Ave, Greenwood, IN 46142

EH
IN RB14040530, FL BK3609313
Randy Faulkner & Associates
Listed by Randy Faulkner & Associates
$2,950,000
786 days on market
Updated 31 days ago

2 North Madison

Details
Property Type Office
Sub Type Creative Office, Traditional Office (+1)
Square Footage 18,360
Net Rentable (SqFt) 16,775
Cap Rate 6.97%
NOI $205,669
Occupancy 95%
Tenancy Multi
Lease Type Modified
Rent Bumps Yes
Pro-Forma Cap Rate 7.7%
Pro-Forma NOI $227,169
Price per SqFt $161
Broker Co-Op Yes
Class B
Year Renovated 2016
Stories 2
Lot Size (SqFt) 34,324
Zoning Commercial
Investment Type Value Add

Updated Stabilized Income Producing Primary Location

Marketing description

Positioned for long-term growth in Greenwood. Fully restored in 2016 with an additional $75,000 in capital improvements in 2025. 750 square feet is vacant for upside potential. Full basement and sub-grade space for possible expansion of rentable square footage. The elevator and sprinkler system make this a treasure in this sub-market. Additional parking spaces secured weekdays under long-term lease across Broadway St. All remote electronic access, security, fire, and HVAC controls. Financials and tenant leases provided to serious inquiries only. Reach out to Eric.

Currently houses an ABA on the first floor, and 4 tenants upstairs. The ideal floor plan for medical, professional services, and educational uses. Walking distance to popular destinations like Vino Villa, La Trattoria, local craft breweries and distilleries, banking, and retail.

Investment highlights

Great investment opportunity for value add and long-term Greenwood asset appreciation.

Listing Contacts

EH
IN RB14040530, FL BK3609313
Randy Faulkner & Associates
Listed by Randy Faulkner & Associates

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$205,669.00
$17,139.08/mo

Valuation Metrics

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DSCR
6.97%
Cap Rate
6.97%
ROI

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Additional Information

Name
Eric Harvey
License
RB14040530
Brokerage
Randy Faulkner & Associates, Inc.
Title
Real Estate Broker
Brokerage Address
3274 East 700 North
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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