4606 Charlestown Rd New Albany, IN 47150-9557

Property Details for 4606 Charlestown Rd

Year built

1940

Construction

STEEL FRAME

Lot size

1.00 lot acres

Property size

1,792 SF

Property type

Commercial land

APN

22-05-08-500-128.000-007

APU

220508500128000007

Description

This exceptional investment opportunity presents a 5,498 square foot auto shop in New Albany, Indiana, boasting a 15-year absolute NNN lease with a prominent national tenant, Christian Brothers Automotive. Built in 2022, this single-tenant property sits on a one-acre lot at 4606 Charlestown Rd, 47150, and enjoys 100% occupancy. The lease features annual rent escalations beginning in year six, providing consistent income growth. The property's strong financial performance is highlighted by a 6.25% cap rate and a substantial net operating income (NOI) of $286,800, with an asking price of $4,590,000 ($834.85/sq ft). The tenant, Christian Brothers Automotive, established in 1982, has a proven track record of success, currently operating over 275 locations nationwide and expanding rapidly. The property benefits from its strategic location within a thriving retail corridor, surrounded by major national retailers including Starbucks, Meijer, Walmart, and many more, serving a densely populated area with high average household incomes exceeding $100,000. The lease includes options extending the term up to 65 years, offering long-term stability and significant return on investment. This is a rare opportunity to acquire a high-performing, low-maintenance asset with exceptional growth potential.