9919 Pointe Vw Dr Newburgh, IN 47630
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Newburgh, IN: High-Yield Retail Investment
Property size:
2,166 SFProperty Features for 9919 Pointe Vw Dr
General Information
- Property type
- Retail properties & Spaces
- Square Feet
- 2,166 SF
- Lot Size
- 43,560 SF
Building Details
- Year Built
- 2024
- Units
- 1
Listing Agency: Veritas Realty Listing Agent: Jon Bannister
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This offering presents a unique opportunity to acquire a fee-simple, newly constructed (2024) Starbucks located in Newburgh, Indiana, a rapidly growing suburb of Evansville. The property boasts a 2,166 square foot building on a one-acre lot, featuring 44 parking spaces and excellent visibility on Pointe View Drive. The property benefits from a strong, credit-rated tenant with a 9.4-year remaining lease term (expiring 03/31/2034) and four 5-year renewal options. The lease is a triple-net (NNN) agreement, meaning the tenant covers all expenses except roof and structure maintenance. Rental income is further secured by a 7.5% rent increase every five years. The property currently generates a net operating income (NOI) of $167,000, representing a 5.75% capitalization rate. The location is strategically positioned within a thriving commercial corridor, near major employers like Deaconess Gateway Hospital and within close proximity to I-69 and IN-66, ensuring high traffic volume (40,593 average daily cars). The surrounding area features a strong demographic profile, with a 3-mile average household income of $139,678. This investment offers a stable, high-yield return with significant long-term growth potential in a prime location. The property's roof is covered by a warranty extending to 2039. This is a 100% occupied, single-tenant property with minimal landlord responsibilities. The asking price is $2,904,348, translating to $1,340.88 per square foot.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial real estate
Map
- City
- Newburgh
- County
- Warrick
- State
- Indiana
- Longitude
- -87.430301893538
- Latitude
- 37.976815590831
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FAQs
What type of property is this?
Retail property - Newburgh, IN: High-Yield Retail Investment
Where is this retail property located?
The property is located at 9919 Pointe Vw Dr Newburgh, IN.
What is the asking price?
The asking price for this property is $2,904,348.
What are key features of this property?
This property features: $2,904,348 asking price for a stabilized, single-tenant, fee-simple Starbucks property.; New construction, 2,166 square feet, built in 2024, on a 1-acre lot with 44 parking spaces.; 10.1-year lease (9.4 years remaining) commencing March 4, 2024, and expiring March 31, 2034, with four 5-year options; 7.5% rent bumps every 5 years.
