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State Street Net Lease Portfolio 2 Retail Properties Offered at $8,787,000 in New Albany, IN
Investment Highlights
- Incredible Tenant Mix - Chipotle (NYSE: CMG), Panera Bread, and BofA (NYSE: BAC) with Over 11 WALT Years Remaining.
- Thriving Community with an Average Household Income of Over $65K within Five Miles of the Subject Asset, as of 2023.
- Well Established State Street Retail Corridor | Nearby National Retailers Include: Target, Kroger, Home Depot, KFC, Arby’s, Chick-fil-A, and Others.
- Robust Traffic Counts on State Street (30k VPD) and Less than One-Half Mile from US-265 (70k VPD) and One Mile from US-64 (61k VPD).
- Subject is 6 Miles from Downtown Louisville Kentucky with a Population of 1,365,557.
- Subject Shares a Traffic Light with the Entrance to Kroger and Populates the Pad Adjacent to Target.
Executive Summary
Subjects are Newly Constructed Prime Retail Buildings Build-to-Suit for Chipotle, Panera
Bread and Bank of America. A Total of 10,817 Sq. Ft. on a 2.4-Acre Lot with Ample
Parking, Pylon Signage, Easy Ingress/Egress, and Strategically Located at a Signalized
Intersection, Available Together or Individually.
Traditional Net Leases with Minimal Landlord Responsibility and Warranties, Eleven Years WALT Remaining w/Rental Increases Every 5 Years
Bread and Bank of America. A Total of 10,817 Sq. Ft. on a 2.4-Acre Lot with Ample
Parking, Pylon Signage, Easy Ingress/Egress, and Strategically Located at a Signalized
Intersection, Available Together or Individually.
Traditional Net Leases with Minimal Landlord Responsibility and Warranties, Eleven Years WALT Remaining w/Rental Increases Every 5 Years
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $8,787,000 | Number of Properties | 2 |
| Price / SF | $779.89 / SF | Individually For Sale | 0 |
| Cap Rate | 5.75% | Total Building Size | 11,267 SF |
| Sale Type | Investment NNN | Total Land Area | 4.89 AC |
| Status | Active |
| Price | $8,787,000 |
| Price / SF | $779.89 / SF |
| Cap Rate | 5.75% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 11,267 SF |
| Total Land Area | 4.89 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2137 State St, New Albany, IN 47150 | Retail | 8,942 SF | 2023 | - |
| 2133 State St, New Albany, IN 47150 | Retail | 2,325 SF | 2022 | - |
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State Street Net Lease Portfolio
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