624 State Street, New Albany, IN 47150
sale
$2,850,000
|
Other
Courtesy Of BHG Realty
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
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Property Features
- Age: Over 50 Years Old
- Legal Description: P 122 L 14, 5, 6 & 46 1' L 4;W 1/2 L 7-8-9;S 154 L 16#80600-10; S 35' OF N 40'L 16 #17 (22-05-03-500-192.000-008)
- MLSID: 2026011996
- Parking Spaces: 62
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