Navy Federal Credit Union - Elizabethtown, KY

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30848710
Property Subtypes: Free-Standing Building, Other
Status: Pending
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: 5/6/2024

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
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

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 23,324 52,418
Median Age: 38.58 36.6
Households: 9,277 20,680


Photograph of Listing Agent

Justin R Phelps

Hogan Real Estate KCREA Member
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