Closed: Medix (Indianapolis) – 12-Year NNN @ 8.6% Cap

Executive Summary

Since opening its doors in 2001, Medix Specialty Vehicles has been manufacturing the most competitively priced, high-quality ambulances in the industry. Year after year they have grown their business with the simple philosophy that taking care of customers and just doing things
the right will facilitate their success.

Nashville-based LFM Capital (Private Equity firm) acquired a majority stake in Medix in 2017. LFM states that “their partnership has already led to Medix landing “large, multi-unit transactions” and being able to invest in facilities and equipment.

Medix had $50,000,000+ in annual sales in 2017

Lease Terms:

  • 12-Year Absolute NNN w/ Annual 2% Rent Escalations after Year 5
  • True NNN – No Landlord Responsibilities
  • 2nd Largest Ambulance Manufacturer in the United States

Project Details

Location: Elkhart, IN

Purchase Price: $4,625,000
Square Footage: 133,187 SF
Type: Industrial
Price Per SF: $34.73 / SF
Year Built:1968, 1970, 2015, 2016 (4 Buildings)
Cap Rate: 8.56%

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