Value-Add Investment Property - 10th St Jeffersonville, IN

Retail-Commercial for Sale
Also listed as Shopping Center, Office
Catylist Listing ID: 30856928
Property Subtypes: Convenience Store, Day Care Facility, Mixed Use, Post Office, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Vehicle Related, Other
Building Size (RSF): 11,614 SF
Gross Land Area: 1.48 SF
Sale Price: $1,090,000
Unit Price: $93.85 PSF
Has Drive-Thru? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: 10th Street Center
Sale Terms: Undisclosed, Cash to Seller
Last Updated: 12/5/2023

Overview / Comments

+ Sale Price: $1,090,000
+ Opportunity to purchase an 11,614 square foot strip center with substantial value add potential
+ Offered well below replacement cost at $93.85/sf
+ 1.48 acres with excellent visibility, in-fill location, and strong population density
+ Average daily traffic counts of 26,593
+ New roof to be installed by Landlord prior to sale
+ Only one long-term lease in place, allowing the new owner rent roll flexibility and immediate opportunity to drive value
+ Jeffersonville, IN is slated for tremendous economic growth with the addition of the River Ridge Commerce Center, a 6,000+ acre industrial, office, and research campus that is estimated to bring 100,000 jobs to the market
+ Close proximity to several national retailers, including: Starbucks, McDonald’s, Jimmy John’s, Burger King, Sherwin-Williams, Waffle House, Rally’s, Taco Bell, White Castle, Chase Bank, and Papa John’s
+ E 10th St location, which provides direct access to Jeffersonville’s major roadways, I-65 and I-265

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Clark
Taxing Authority: Jeffersonville
Tax ID/APN: 101901000526000010; 101901001108000010
Zoning: C2
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Casino, Other
Property Visibility: Excellent
Feet of Frontage: 260
Traffic/Vehicle Count: 26,593
Highway Access: E 10th St/Hwy 62 provides direct access to I-65 and I-265. 3.5 miles from I-64 and I-71.
Airports: Louisville Muhammad Ali International Airport
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1989
Total Parking Spaces: 62
Parking Type: Surface
Sprinklers: Wet
Zoning Description: C2
Lot Frontage: 275'
Lot Depth: 390'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,967 83,930 240,838
Median Age: 37.44 38.11 37.95
Households: 5,029 36,320 105,236


Photograph of Listing Agent

Austin C Gutgsell

Pluris Realty KCREA Member
Photograph of Listing Agent

J. Colin Underhill

Pluris Realty KCREA Member
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