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 |
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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