1600 Veterans Pkwy Jeffersonville, IN 47130-7161

Property Details for 1600 Veterans Pkwy

Year built

2022

Construction

TYPE NOT SPECIFIED

Lot size

5.22 lot acres

Property size

63,825 SF

Property type

Outlet malls

APN

10-21-03-300-743.000-009

APU

102103300743000009

Description

This exceptional investment opportunity presents a fee-simple interest in a 63,281 square foot Academy Sports + Outdoors, located at 1600 Veterans Pkwy, Jeffersonville, IN 47130 (Louisville MSA). The property boasts a 13-year corporate-guaranteed lease with three 5-year renewal options, featuring annual rent bumps of $0.50 per square foot every five years. The single-tenant, 100% occupied building, constructed in 2022, sits on a 5.22-acre lot and includes 329 parking spaces. The property's strong financials include a $11,926,000 asking price, a 6.50% cap rate, and a net operating income (NOI) of $775,192. The Planned Development (PD) zoning ensures flexibility. The strategic location at a signalized intersection of Veterans Parkway and Hamburg Pike, with proximity to I-65 and I-265, provides excellent visibility and accessibility. The property benefits from its adjacency to Jeffersonville Town Center and other major retail centers, drawing from a robust 5-mile trade area with over 135,900 residents and 110,100 daytime employees, boasting an average household income of $77,468. This presents a low-management, high-return investment with a well-established national tenant and significant growth potential. The land value is $12.25 per square foot. The property features one building, one story, and the APN is 10-21-03-300-743.000-009.