Marcus & Millichap brokered the sale of MedMark Medical Center, a 12,750-square-foot medical office in Lafayette, Indiana.
The property sold for $2.6 million with a 6.6% cap rate. Three-and-a-half years remain on the NN lease term with one additional five-year optional renewal.
Evinger, investment specialist in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, a regional private investor, and procured the buyer, a regional hospitality group.
MedMark Medical Center, located at 4705 Meijer Court, occupies a 3.48-acre lot in Lafayette, Indiana, home to Purdue University. Built in 2005 and renovated in 2018, the property features approximately 560 linear feet of frontage along Interstate 65. It is strategically positioned within a dense retail corridor that includes national retailers and hotels.
