Listed by Encore CRE, Encore Sotheby's International Realty
$6,295,000
Encore On Penn
Details
APN 29-09-35-000-028.001-018
Property Type Office
Sub Type Traditional Office
Square Footage 19,000
Net Rentable (SqFt) 18,841
Cap Rate 7.42%
NOI $467,374
Occupancy 100%
Tenancy Multi
Lease Type Gross
Rent Bumps Yes
Price per SqFt $331
Class A
Year Built 2017
Buildings 1
Stories 3
Acreage 0.770
Zoning Commercial / Office Building
Parking Spaces 34 spaces
Parking per 1,000 SqFt 1.79
Investment Type Stabilized
Sale Condition For sale by owner
Stabilized with excellent tenants, owner/user opportunity possible, Class A, Like new building!
Marketing description
Encore CRE is proud to present Encore on Penn, a premier office investment opportunity in the heart of Carmel, Indiana.
This ±19,000 SF Class A office building, constructed in 2017, is 100% occupied and offers a rare chance to acquire a high-quality, stabilized asset in one of Central Indiana’s most desirable suburban office corridors.
Located at the intersection of Old Meridian and Pennsylvania Streets, the property sits adjacent to the new Republic Airways Corporate Headquarters and benefits from strong visibility, access, and abundant natural light from its window-lined design.
A 3,264 RSF first-floor suite provides owner/user flexibility, with ownership open to delivering the space vacant or extending the current tenant’s lease.
Listing Contacts
Listed by Encore CRE, Encore Sotheby's International Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$467,374.00
$38,947.83/mo
Valuation Metrics
0
DSCR
7.42%
Cap Rate
7.42%
ROI
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