2
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$2,850,000
Est. payment /mo
1.34 Acres Lot
New
624 State ST New Albany, IN 47150
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2026011996
Style Modular/ Prefab
Construction Status Resale
Year Built 1949
Annual Tax Amount $19,558
Lot Size 1.337 Acres
Acres 1.337
Property Sub-Type Retail
Property Description
Excellent commercial investment opportunity offering three solid leases, $220,000 in annual net operating income, and an asking price reflecting a nearly 8% capitalization rate. Situated on a corner lot in a high-traffic area, this property features strong visibility and ample parking.
The lease portfolio includes Dollar General with five years remaining, national tenant Bumper to Bumper, and a master lease guaranteed by the current owner for five years. Investors also have the opportunity to place their own tenant in the master-leased space at a higher rental rate, creating potential for increased income and long-term value. An attractive combination of established tenants, income stability, and leasing upside.
All lease details are on file and are available upon request
The lease portfolio includes Dollar General with five years remaining, national tenant Bumper to Bumper, and a master lease guaranteed by the current owner for five years. Investors also have the opportunity to place their own tenant in the master-leased space at a higher rental rate, creating potential for increased income and long-term value. An attractive combination of established tenants, income stability, and leasing upside.
All lease details are on file and are available upon request
Location
State IN
County Floyd
Interior
Fireplace No
Exterior
Present Use Retail
Total Parking Spaces 62
Building
Architectural Style Modular/Prefab
New Construction No
Construction Status Resale
Others
Tax ID 0088240024
Listed by BHG Realty