State Street Net Lease Portfolio
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State Street Net Lease Portfolio
3 Retail Properties Offered at $14,805,219 CAD in New Albany, IN
Investment Highlights
- Incredible Tenant Mix - Chipotle (NYSE: CMG), Panera Bread, and BofA (NYSE: BAC) with Over 12 WALT Years Remaining.
- Thriving Community with an Average Household Income of Over $65K within Five Miles of the Subject Asset, as of 2023.
- Well Established State Street Retail Corridor | Nearby National Retailers Include: Target, Kroger, Home Depot, KFC, Arby’s, Chick-fil-A, and Others.
- Robust Traffic Counts on State Street (30k VPD) and Less than One-Half Mile from US-265 (70k VPD) and One Mile from US-64 (61k VPD).
- Subject is 6 Miles from Downtown Louisville Kentucky with a Population of 1,365,557.
- Parks and Outdoor Recreational Facilities Nearby Include: Churchill Downs, Louisville Zoo, Long Run Park, Valhalla Golf Club, and More.
Executive Summary
Subjects are Newly Constructed Prime Retail Buildings Build-to-Suit for Chipotle, Panera
Bread and Bank of America. A Total of 10,817 Sq. Ft. on a 2.4-Acre Lot with Ample
Parking, Pylon Signage, Easy Ingress/Egress, and Strategically Located at a Signalized
Intersection, Available Together or Individually.
Traditional Net Leases with Minimal Landlord Responsibility and Warranties, Chipotle has
Over 13 Years Remaining, Panera has 8.5 Years Remaining, and Bank of America has Over
14 Years Remaining. All Lease Include 10% Rental Increases Every 5 Years with at Least
3 x 5-Year Options.
Bread and Bank of America. A Total of 10,817 Sq. Ft. on a 2.4-Acre Lot with Ample
Parking, Pylon Signage, Easy Ingress/Egress, and Strategically Located at a Signalized
Intersection, Available Together or Individually.
Traditional Net Leases with Minimal Landlord Responsibility and Warranties, Chipotle has
Over 13 Years Remaining, Panera has 8.5 Years Remaining, and Bank of America has Over
14 Years Remaining. All Lease Include 10% Rental Increases Every 5 Years with at Least
3 x 5-Year Options.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $14,805,219 CAD | Number of Properties | 3 |
| Price / SF | $788.27 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 4.90% | Total Building Size | 18,782 SF |
| Sale Type | Investment NNN | Total Land Area | 4.89 AC |
| Status | Active |
| Price | $14,805,219 CAD |
| Price / SF | $788.27 CAD / SF |
| Cap Rate | 4.90% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 18,782 SF |
| Total Land Area | 4.89 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2137 State St, New Albany, IN 47150 | Retail | 12,497 SF | 2023 | - |
| 2135 State St, New Albany, IN 47150 | Retail | 3,960 SF | - | - |
| 2133 State St, New Albany, IN 47150 | Retail | 2,325 SF | 2022 | - |
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State Street Net Lease Portfolio
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