Navy Federal Credit Union - Elizabethtown, KY
Retail-Commercial
for Sale
| Catylist Listing ID: |
30848710 |
| Property Subtypes: |
Free-Standing Building, Other
|
| Building Status: |
Under Construction |
| Building Size (RSF): |
3,726 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.61 Acres
|
| Sale Price: |
$2,760,000 |
| Unit Price: |
$740.74 PSF |
| Has Drive-Thru? |
Yes |
| Property Use Type: |
Net Leased Investment (NNN) |
| Building Name: |
Navy Federal Credit Union |
| Sale Terms: |
Undisclosed |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/1/2024 |
Overview / Comments
Qualified investors are extended the opportunity to acquire this unique single tenant 100% fee simple interest in newly constructed NNN lease the largest credit union in the United States, Navy Federal Credit Union. The initial term is ten (10) years with two (2) five-year options.
The property is part of a 5-acre development on US 31W, in north Elizabethtown, KY, the most affluent area in the market. It is located on the busiest road in Elizabethtown, which carries approximately 28,000 VPD in front of the site. The property is well positioned and located in the retail corridor with Kohl’s, Best Buy, TJ Maxx and many other retailers and restaurants. The site boasts excellent visibility from US 31W and has its own pylon signage.
Elizabethtown, located in Hardin County, is one of the fastest growing communities in Kentucky and will see continued growth for the next several years because of Ford’s significant investment in the BlueOvalSK Battery Park, currently under construction and projected to open Q4, 2024.
|
Current Tenants
| Tenant Business Name |
Navy Federal Credit Union |
| Website URL |
https://www.navyfederal.org/ |
| Industry Type |
Finance and Insurance |
| Employees Total |
23,900 |
| Year Founded |
1933 |
| Current Rent |
$37 PSF (Annual) |
| Escalations |
10 year original term with a 10% rental increase in Year 6 and two periods of 5 year option terms, with 10% increases in each option period |
| Options |
Two (2) Five (5) year options:
Years 11 - 15: $166,980
Years 16 - 20: $183,678 |
| Tenant Notes |
Largest Credit Union in the World with 12.9 Million Members | $166.1 Billion in Assets | 356 Branches Worldwide | #1 for Customer Experience among Multichannel Banks/ Credit Unions in Forrester’s 2023 CX Index™ Survey |
Additional Details
| Nearest MSA: |
Elizabethtown-Fort Knox |
| County: |
Hardin |
| Taxing Authority: |
Hardin County |
| Tax ID/APN: |
200-20-00-001 |
| Zoning: |
C-3 |
| Retail Clientele: |
Family, Business, Other |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
North Dixie Highway (US 31W) |
| Traffic/Vehicle Count: |
28,000 |
| Highway Access: |
North Dixie Highway (US 31W), Joe Prather Highway (313), I-65 |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Property Condition: |
Excellent |
| Year Built: |
2023 |
| Construction/Siding: |
Brick |
| Total Parking Spaces: |
35 |
| Parking Type: |
Surface |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
23,324 |
52,418 |
| Median Age: |
38.58 |
36.6 |
| Households: |
9,277 |
20,680 |
|
© Copyright 2024 Moody's. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Kentucky Commercial Real Estate Alliance nor
Moody's assume any liability for errors or omissions.
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