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Tipton Community Fairbanks Center 202 S West St

3,795 SF Office Building Tipton, IN 46072 $680,000 ($179/SF) 7.57% Cap Rate

Investment Highlights

  • New 5-Year NNN lease extension with Community Howard Regional Health, a part of Community Health Systems
  • Strategically situated with immediate proximity to major thoroughfares and population centers
  • Tenant recently made significant investment into the Property for expansion of services to community
  • Strong demand for medical / behavioral health services in the growing Tipton market and surrounding areas

Executive Summary

The DiSalvo | Bender | Nulf Group of Marcus & Millichap is pleased to present the opportunity to acquire a premier single-tenant medical office building located at 202 S West St, Tipton, IN which houses the Community Fairbanks Clinic. The Community Fairbanks Clinic in Tipton is a single-tenant behavioral health clinic occupied by Community Howard Regional Health, part of Community Health Network. This well-maintained and recently renovated facility is ideally situated to serve the residents of Tipton and surrounding areas, offering essential behavioral healthcare services in a convenient and accessible location. With its strategic location and high-quality construction, this property presents an outstanding investment opportunity in the healthcare real estate market.
Market: Tipton, Indiana is part of the larger Indianapolis-Carmel-Anderson Metropolitan Statistical Area (MSA), which is known for its strong economy and robust healthcare sector. The Tipton market benefits from its proximity to major healthcare providers and a growing population, creating demand for medical services in the area. The city’s central location within the state makes it an attractive destination for healthcare professionals and patients alike. The surrounding region is characterized by a mix of residential, commercial, and industrial developments, contributing to a stable economic environment. Additionally, the presence of prominent employers such as Red Gold and Steel Parts Manufacturing underscores the economic vitality of the area.
Stable Current Tenant Mix: The property is fully leased to Community Howard Regional Health, a part of Community Health Network, and this location serves as a Community Fairbanks Clinic offering behavioral health services. With the recent expansion and investment made by the Tenant, the Tipton clinic is now home to individual and family therapy services, group therapy services for substance use treatment and mental health needs, case management services, psychiatric medication services as well as medication assisted therapy. Community Howard Regional Health’s commitment to the location underscores the importance of this facility in their regional operations, ensuring long-term tenancy and minimal vacancy risk.
Location: The medical office is strategically located at 202 S West St in the heart of Tipton, Indiana. The property is easily accessible from major thoroughfares, including US-31 and SR-28, providing convenient access to patients and staff. Tipton is situated just 36 miles north of Indianapolis, 17 miles south of Kokomo, and 27 miles west of Anderson, making it an ideal location for serving patients from these major population centers. The property’s central location within Tipton ensures high visibility and ease of access, further enhancing its appeal to both the current tenant and potential future occupants.

Attachments

TCFC - OM

Property Facts

Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
3,795 SF
Building Class
C
Year Built
1949
Price
$680,000
Price Per SF
$179
Cap Rate
7.57%
NOI
$51,446
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,795 SF
Building FAR
0.24
Land Acres
0.36 AC
Zoning
Commercial
Parking
10 Spaces (2.6 Spaces per 1,000 SF Leased)

Amenities

  • 24 Hour Access
  • Controlled Access
  • Security System
  • Storage Space
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
80-11-11-546-068.010-002
Land Assessment
$41,800
Improvements Assessment
$99,500
Total Assessment
$141,300
  • Listing ID: 33121106

  • Date on Market: 9/10/2024

  • Last Updated:

  • Address: 202 S West St, Tipton, IN 46072

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