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24987463
24987464

6635 East 21st St, Indianapolis, IN 46219

BB
IN RB14037939, OH BRK.200900214 (+21)
Bang Realty
SW
BR648402000
Echo West Capital Advisors
MM
AZ #SA694963000, CO ER.100109767
Echo West Capital Advisors
JB
AZ SA 700127000, ID 1371886
Echo West Capital Advisors
Listed by Bang Realty, Echo West Capital Advisors
$1,620,000
317 days on market
Updated 37 days ago

Hopebridge Autism Therapy Clinic

Details
APN 49-07-35-116-002.000-774, 49-07-35-116-008.000-774
Property Type Office, Retail (+1)
Sub Type Day Care/Nursery, Medical Office
Square Footage 10,453
Net Rentable (SqFt) 10,453
Cap Rate 6.86%
NOI $111,200
Occupancy 100%
Tenancy Single
Brand/Tenant Hopebridge
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 03/24/2028
Remaining Term 1.8
Rent Bumps Yes
Lease Options Two, 5-Year Options
Price per SqFt $155
Year Built 1990
Buildings 1
Stories 1
Acreage 1.290
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/25/2018
Ground Lease No

Hopebridge Autism Therapy Clinic - Indianpolis, IN | Absolute NNN Lease | 6.86% CAP

Investment highlights

  • Absolute NNN Lease - The property is subject to an Absolute Triple Net (NNN) lease structure, ensuring all expenses—including taxes, insurance, and maintenance—are the sole responsibility of the tenant. As confirmed in Section 4.8 of the lease agreement, base rents are fully net to the landlord with no deductions. This structure provides true passive income and minimizes operational risk for the investor.

  • Strong and Growing Tenant - Hopebridge has demonstrated substantial expansion since 2020, increasing its footprint from 54 clinics in 6 states to over 100 locations across 12 states. This rapid growth highlights strong demand for its services and the company’s operational success. The tenant’s continued expansion supports long-term stability and income durability.

  • Below Replacement Cost - Priced at just $155 per square foot, the offering is significantly below current construction replacement costs. This pricing creates a compelling entry point with built-in equity. Investors benefit from reduced downside risk and strong value fundamentals.

  • Two-Parcel Configuration - The property includes two distinct parcels totaling 1.29 acres—one housing the main building and the second providing ample overflow parking. This layout enhances accessibility, functionality, and site flexibility. It also opens potential for future reconfiguration or development.

  • Below Market Rents with Limited Local Competition - The property is leased at below market rental rates, presenting a compelling opportunity for future upside. Within a 3-mile radius, there are only four office properties offering 5,000 square feet or more of contiguous office space. This limited local inventory supports strong tenant retention and long-term demand for similarly sized spaces.

Listing Contacts

BB
IN RB14037939, OH BRK.200900214 (+21)
Bang Realty
SW
BR648402000
Echo West Capital Advisors
MM
AZ #SA694963000, CO ER.100109767
Echo West Capital Advisors
JB
AZ SA 700127000, ID 1371886
Echo West Capital Advisors
Listed by Bang Realty, Echo West Capital Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$111,200.00
$9,266.67/mo

Valuation Metrics

0
DSCR
6.86%
Cap Rate
6.86%
ROI

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Additional Information

Name
Brian Brockman
License
RB14037939
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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