Main Street Auto
New Albany, IN
Key Details
| Price: | $2,400,000 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $168,000 |
| Address: | 601 Mount Tabor Road, New Albany, Indiana 47150 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 1.53 Acres |
| Building Size: | 7,000 SF |
| Year Built: | 1998 |
NNN Pro is pleased to present the exclusive listing for a Main Street Auto located at 601 Mount Tabor Road, New Albany, Indiana 47150. The site consists of roughly 7000 rentable square feet of building space on an estimated 1.53-acre parcel of land. This Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $168,000 and has scheduled increases of 2.00% Annually.
About the Investment
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- Attractive Rental Increases
- Corporate Guarantee
- Several Tenant Renewal Options
Key Details
| Price: | $2,400,000 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $168,000 |
| Address: | 601 Mount Tabor Road, New Albany, Indiana 47150 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 1.53 Acres |
| Building Size: | 7,000 SF |
| Year Built: | 1998 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Francis Purritano
fpurritano@nnnpro.com
License: NY: 10401333619
Howard Curd
hcurd@nnnpro.com
License: NY: 10401339720
Walker Stevens
wstevens@nnnpro.com
License: NY: 10401381479
Broker of Record
Brian Brockman
Bang Realty, Inc
License: RB14037939
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.