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624 S Green River Road - Barnes & Noble Booksellers, Evansville, IN

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624 S Green River Road - Barnes & Noble Booksellers

Lincoln Ave & Green River Rd
Evansville, IN 47715-4102 - Eastside Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1995
Building Size:36,400 SF Land Area:3.26 AC (142,006 SF)
For Sale Price:$4,832,533 Price/SF:$132.76
Cap Rate:8.25 %
Parking:150 Surface spaces are available; Ratio of 4.14/1,000 SF

April 2002, Building sold.

Sale Notes:
Stan Johnson Company, on behalf of Ownership, as its exclusive advisor, is pleased
to offer for sale the opportunity to acquire the 100% fee simple interest in the free
standing Barnes & Noble located at 624 South Green River Road in Evansville, Indiana
(the “Property”). The Property is a two-story building encompassing +/- 36,400
square feet on a large +/- 3.263-acre parcel at the hard signalized corner of S. Green
River Road and Lincoln Avenue.

The Property is currently 100% leased to Barnes & Noble Superstores, Inc. (“Tenant”), a
wholly-owned subsidiary of publicly-traded (NYSE: BKS) Barnes & Noble, Inc. (“Lease
Guarantor”) who also fully guarantees all lease obligations. The Property is currently
operating under a NNN lease with landlord responsibility limited to roof, structure, and
capital expenses. Following Barnes & Noble’s most recent lease extension, there is
now approximately 6.5 years of term remaining, including a rental increase of roughly
8.6% effective February 1, 2018, significantly enhancing an investors overall return in
the near term.

Today, this Evansville store covers a substantial Midwest footprint serving as a regional
hub for Barnes & Noble, who has consolidated multiple locations into this location, with
their next closest store now approximately 110 miles away in Elizabethtown, Kentucky.
The Property boasts strong residual value and enjoys frontage on the primary arterial
of Evansville’s core retail corridor with trade area traffic counts in excess of 118k vehicles
per day. It is less than one mile from both the 1.04M+ SF Eastland Mall and St. Mary’s
Medical Center, Evansville’s 3rd-largest employer, and is within walking distance of
Harrison High School, one of the city’s largest secondary institutions.

Stan Johnson Company
Brandon Duff
(312) 240-0162

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