2135 State St New Albany, IN 47150

This exceptional investment opportunity presents a portfolio of three newly constructed retail buildings totaling 10,817 square feet on a 2.4-acre lot in New Albany, Indiana. The property boasts a prime location at a signalized intersection on State Street, a high-traffic retail corridor with ample parking, pylon signage, and easy ingress/egress. Tenants include Chipotle, Panera Bread, and Bank of America, all under long-term triple-net (NNN) leases with minimal landlord responsibilities. The leases feature corporate guarantees, providing significant financial security. Each lease includes a 10% rent increase every five years, with at least three 5-year options, ensuring consistent income growth. The portfolio benefits from a strong tenant mix, with established national brands and a weighted average lease term (WALT) exceeding 12 years. The property's location offers excellent visibility and accessibility, situated near major roadways including US-265 and US-64, and surrounded by other national retailers such as Target, Kroger, and Home Depot. The thriving community boasts an average household income exceeding $65,000 within a five-mile radius, further enhancing the investment's appeal. The asking price is $10,527,033, representing a 4.90% cap rate and a price per square foot of $973.19, based on a net operating income (NOI) of $515,359. The buildings were constructed in 2022 and 2023 and are currently 100% occupied. This portfolio offers a compelling combination of strong tenants, long-term leases, and a desirable location, making it an ideal investment for discerning buyers. The property is conveniently located just six miles from downtown Louisville, Kentucky.