Absolute NNN Convenience Store
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1816 S Memorial Drive, New Castle, IN 47362
Operating convenience retail asset with an absolute NNN lease and long remaining term.
Property Size2,335 SF
Lot Size0.52 Acres
Price / SF$1,394
Days on Market7
Property Features for 1816 S Memorial Drive
General Information
Standard status
Active
Size
2,335 SF
Lot size
0.52 Acres
Property subtype
Retail
Zoning
C
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$170,948
Additional Details
Traffic Count
6,698 vehicles/day
Building Details
Year Built
1999
Tenancy
Single
Listing Agency:
Commercial Investment Advisors (CIA) Scottsdale
Listed By:
Justin Zahn · License #SA545840000
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 10:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Investment Advisors (CIA) Scottsdale
Investment Insights
Based on property information with market context.
The property is a 2,335-square-foot convenience store completed in 1999 and operating under a new 15-year absolute NNN lease. More than 14 years remain on the term, with a 10% rental escalation scheduled for 1/1/36. The parcel measures approximately 0.52 acres and carries C zoning.
Located at 1816 S Memorial Drive in New Castle, the site has drive-by access and visibility along Parkview Dr and S Memorial Dr, with reported traffic of 6,698 CPD. The surrounding retail environment includes Walmart, Tractor Supply Co., Aldi, Walgreens, AutoZone, O’Reilly Auto Parts, and Rural King. Ivy Tech Community College is approximately 2 miles away, while Henry Community Health’s hospital campus is less than 3 miles from the property.
Located at 1816 S Memorial Drive in New Castle, the site has drive-by access and visibility along Parkview Dr and S Memorial Dr, with reported traffic of 6,698 CPD. The surrounding retail environment includes Walmart, Tractor Supply Co., Aldi, Walgreens, AutoZone, O’Reilly Auto Parts, and Rural King. Ivy Tech Community College is approximately 2 miles away, while Henry Community Health’s hospital campus is less than 3 miles from the property.
Key Highlights
- 2,335‑square‑foot convenience store built in 1999
- New 15‑year absolute NNN lease with 14+ years remaining
- 10% rental escalation scheduled for 1/1/36
Property Analytics
Property Profile
Current Use
Lease Details
6,698 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
168k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 21%
Apparel 3%
Home Improvements & Furnishings 3%
McDonald's
Dining
33,647 visits/mo
0.1 miles
Taco Bell
Dining
21,134 visits/mo
0.4 miles
Speedway
Shops & Services
15,201 visits/mo
0.0 miles
Arby's
Dining
11,679 visits/mo
0.1 miles
Burger King
Dining
10,150 visits/mo
0.2 miles
Demographics for 47362, IN
30,184
Population
12,523
Households
2.4
Avg Household Size
43
Median Age
15%
College-Educated
89%
High-School Grad
147.7 sq mi
ZIP Area
204
Density / Sq Mi
$56,564
Median Household Income
$38,568
Median Earnings
$792
Median Rent
$131,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Operating convenience retail asset with an absolute NNN lease and long remaining term.
Where is this nnn property located?
The property is located at 1816 S Memorial Drive New Castle, IN.
What is the asking price?
The asking price for this property is $3,256,000.
What are key features of this property?
This property features: 2,335‑square‑foot convenience store built in 1999; New 15‑year absolute NNN lease with 14+ years remaining; 10% rental escalation scheduled for 1/1/36
