NNN NEW ALBANY INVESTMENT RETAIL FOR SALE

Retail-Commercial for Sale
Catylist Listing ID: 30796420
Property Subtypes: Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 22,435 SF
Gross Land Area: 1.31 Acres
Sale Price: $3,900,000
Unit Price: $173.84 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 5.5%
Last Updated: 9/28/2022

Overview / Comments

Oxford Rhine Real Estate is pleased to present exclusively for sale the fully renovated retail center located in downtown New Albany, IN. Originally operated as a grocery store, the highly visible and strategically positioned 22,435
square foot building has been meticulously transformed into a multi-tenant retail center. The building is currently occupied by Investment Grade Credit Tenants Dollar General & Bumper to Bumper which have executed multi-year NNN leases with rental increases. This particular Dollar General is one of their larger store footprints with an extensive grocery offering available.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-03-500-351.000-008
Zoning: DOWNTOWN COMMERCIAL
Retail Clientele: Business, Other
Property Visibility: Excellent
Highway Access: I-65, I-64, I264
Airports: SDF, Clark County Regional Airport
Area Description: The property is located in vibrant New Albany, Indiana which has experienced 15-years of substantial strong growth and local investment. The area is home to a variety of restaurants, bars, boutique shops & nearby Caesars hotel & casino.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Renovated: 2021
Parking Type: Surface
Parking Description: There is an abundance of surface parking around the building.
Sprinklers: Wet
Zoning Description: Downtown Commercial- The Downtown (D) district is intended for the expansion of residential, employment, Governmental, and recreational Uses currently found within the downtown area to continue its revitalization environment. Commercial uses, office space, residential uses, and compatible light industrial uses are appropriate in this district.
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,326 77,390 178,977
Median Age: 34.95 36.83 36.53
Households: 4,769 31,728 74,442
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