Reduced! 15 Yr Fast Pace Health|2027 7.2% CAP | 980 N Meridian St
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Reduced! 15 Yr Fast Pace Health|2027 7.2% CAP 980 N Meridian St
2,713 SF 100% Leased Retail Building Portland, IN 47371 £1,759,470 (£649/SF) 6.55% Net Initial Yield
Investment Highlights
- Just Reduced!! Multiple 10% Rental Increases, Offering Continual Income Growth & Taking the CAP Rate to 7.21% by Year 2027 and 7.93% CAP in Year 2032
- No Daily Management Responsibilities: Tenant Responsible for All Daily Management, Real Estate Taxes and Insurance
- Highly Visible Signage" Excellent Frontage & High Traffic (17,155+ Vehicles/Day) Surrounding Property at Main Intersection of Two Main Thoroughfares
- Newer Medical (2022) Construction, State-of-the-Art Fast Pace Urgent Care Location: Long-Term, NNN Lease with Approx. 13.5 Years of Term Remaining
- Corporately Backed, Single-Tenant Location with Sought-After Well-Known National Tenant (275+ Current Locations in 6 States)
- Growing City: Ideal Demographics with Avg. Household Incomes of Approx. $83,000 Within a 10-Mile Radius
Executive Summary
• Newer Medical (2022) Construction, State-of-the-Art Fast Pace Urgent Care Location: Long-Term, NNN Lease with Approximately
13.5 Years of Term Remaining
• Just Reduced!! Multiple 10% Rental Increases, Offering Continual Income Growth & Taking the CAP Rate to 7.21% by Year 2027 and
7.93% in Year 2032
• No Daily Management Responsibilities: Tenant Responsible for All Daily Management, Real Estate Taxes and Insurance
• Corporately Backed, Single-Tenant Medical Necessity Location with Sought-After Well-Known National Tenant (275+ Current
Locations in 6 States)
• Highly Visible Signage with Excellent Frontage and High Traffic (17,155+ VPD) Surrounding the Property at the Main Intersection of
Two Main Thoroughfares (Meridian and Votaw Streets) in Portland
• Growing City: Ideal Demographics with Average Household Incomes of Approximately $83,000 Within a 10-Mile Radius
• Direct Vicinity of Complimentary IU Jay Hospital, a Critical Access Hospital with Approximately 500 Employees, While Indiana
University Healthcare System, Based in Indianapolis is a Regional Leader that Employs 38,000 Employees System-Wide
• Low Price Point Deal, Ideal for 1031 Buyers with E-Commerce/ Recession Resistant Tenant - Urgent Care Industry Fast Approaching
Being $40 Billion Annual Business
• Surrounded by Rooftops, Other Favorable Medical Users, Retailers, Restaurants and Schools
• Strong Employment Base: Tyson Foods Facility (455 Employees), FCC (Indiana), LLC (750+ Employees), Priority Plastics (140+
Employees), Motherson Sumi Systems, LTD/MSSL Wiring Systems (350 Employees) and ATI-Forged Products (150 Employees)
• Advantageous Location with Easy Commutes to Downtown Fort Wayne (50 Miles), Dayton, OH (75 Miles) and Indianapolis (90
Miles): Additional Employment, Major Attractions and Airports in Each City
• County Seat with Below National and State Levels for Cost of Living by Best Places, Making Portland an Extremely Affordable Place
to live
13.5 Years of Term Remaining
• Just Reduced!! Multiple 10% Rental Increases, Offering Continual Income Growth & Taking the CAP Rate to 7.21% by Year 2027 and
7.93% in Year 2032
• No Daily Management Responsibilities: Tenant Responsible for All Daily Management, Real Estate Taxes and Insurance
• Corporately Backed, Single-Tenant Medical Necessity Location with Sought-After Well-Known National Tenant (275+ Current
Locations in 6 States)
• Highly Visible Signage with Excellent Frontage and High Traffic (17,155+ VPD) Surrounding the Property at the Main Intersection of
Two Main Thoroughfares (Meridian and Votaw Streets) in Portland
• Growing City: Ideal Demographics with Average Household Incomes of Approximately $83,000 Within a 10-Mile Radius
• Direct Vicinity of Complimentary IU Jay Hospital, a Critical Access Hospital with Approximately 500 Employees, While Indiana
University Healthcare System, Based in Indianapolis is a Regional Leader that Employs 38,000 Employees System-Wide
• Low Price Point Deal, Ideal for 1031 Buyers with E-Commerce/ Recession Resistant Tenant - Urgent Care Industry Fast Approaching
Being $40 Billion Annual Business
• Surrounded by Rooftops, Other Favorable Medical Users, Retailers, Restaurants and Schools
• Strong Employment Base: Tyson Foods Facility (455 Employees), FCC (Indiana), LLC (750+ Employees), Priority Plastics (140+
Employees), Motherson Sumi Systems, LTD/MSSL Wiring Systems (350 Employees) and ATI-Forged Products (150 Employees)
• Advantageous Location with Easy Commutes to Downtown Fort Wayne (50 Miles), Dayton, OH (75 Miles) and Indianapolis (90
Miles): Additional Employment, Major Attractions and Airports in Each City
• County Seat with Below National and State Levels for Cost of Living by Best Places, Making Portland an Extremely Affordable Place
to live
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,713 SF
Year Built
2022
Price
£1,759,470
Price Per SF
£649
Net Initial Yield
6.55%
NOI
£115,247
Percent Leased
100%
Number of Floors
1
Building FAR
0.14
Land Acres
0.46 AC
Amenities
- 24 Hour Access
- Bus Route
- Corner Lot
- Pylon Sign
- Security System
- Signage
- Signalised Intersection
- Monument Signage
-
Power Broker Daniel Cooper -
Cooper Commercial Investment Group
(216) 562-1981
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Reduced! 15 Yr Fast Pace Health|2027 7.2% CAP | 980 N Meridian St
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