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

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DetailMap
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:36,244 SF Land Area:3.26 AC (142,006 SF)
For Sale Price:For Sale Price/SF:-
Cap Rate:-
Parking:150 Surface spaces are available; Ratio of 4.14/1,000 SF


April 2002, Building sold.

Sale Notes:
Description for 624 S. Green River Road, Evansville, IN 47715

Property Tour and Contact Detail Information:

Property tours are available by appointment. Please contact the listing broker to schedule a tour of the property.

Investment Highlights:

• NNN Lease with minimal Landlord responsibilities
• Tenant has executed multiple renewals and recently executed an early five-year renewal with 5.5 years remaining
• Barnes & Noble has occupied the location since 1995 and it is their only store location within 110 miles
• One mile south of Eastland Mall, a 1.04M regional mall with 110 stores, drawing 10 million visitors annually
• Well established primary retail corridor. Restaurants and retailers at Subject intersection include CVS, McDonald’s, Wendy’s, Hooters, and 5th 3rd Bank
• Signalized hard corner on major east/west and north/south arterials. Green River Road has average daily traffic counts of +/- 30,000 vehicles
• Excellent visibility via four points of Ingress/ Egress
• Dense surrounding population of 119,542 within five miles
• Less than one mile from St. Mary’s Medical Center, Evansville’s 3rd largest employer with 3,500+ employees
• Walking distance to Harrison High School; 1,450+Students and 110+ faculty

Investment Overview:

The opportunity is a 2-story 36,244 SF freestanding retail building in Evansville, IN. The property was built in 1995 and is situated on a 3.02 acre site. Since construction, this build-to-suit property has been 100.0% occupied by a single tenant, Barnes & Noble Booksellers.

The property boasts an excellent corner location at the intersection of South Green River Road and Lincoln Avenue, providing superb visibility along a primary retail corridor. The subject is also well-positioned between Eastland Mall, one mile to the north and Washington Square Mall, less than one mile to the south. Two power centers, Lloyd Crossing Shopping Center and Evansville Pavilion are also located less than two miles east, providing several big box, junior box, inline retail developments, and restaurants with national tenants such as Target, Wal-Mart, Home Depot, Kohl’s, PetSmart, and Best Buy.

Barnes & Noble, Inc. is a leading retailer of content, digital media and educational products. The company provides customers easy and convenient access to books, magazines, newspapers and other content across its multi-channel distribution platform. Barnes and Noble had most recent 3rd quarter sales of $1.3 billion with net earnings of $70.3 million. The company has a total shareholder’s equity of $603 million. Barnes & Noble.com leverages the Barnes & Noble brand to offer the premier web destination for books, ebooks, magazines, toys & games, music, DVD, and related products and services. The company stocks over 1 million titles for immediate delivery more than any other online bookseller. Barnes and Nobles recently authorized a new stock repurchase program for up to $50 million of its common shares. Additionally, a quarterly cash dividend of $0.15 per share was declared and payable on April 28th, 2017. Barnes & Noble had a most recent 3rd quarter EBITDA of $157.8 million. FY 2017 EBITDA is trending up year over year with a current estimate at $180 million to $190 million with Retail EBITDA trending at $200 million to $210 million.

Evansville is the third largest city in the state of Indiana. The City’s major employers include Toyota, St. Mary’s Health, Berry Plastics, Evansville Vanderburgh School Corporation, and Alcoa Aluminum. Evansville is considered to be a regional trade hub for Indiana, Kentucky, and Illinois. Its strategic location along the Ohio River, along with US Customs Port of Entry designation and ample rail and highway infrastructure, make Evansville an ideal location for trade and logistics.
Auctioneer Licensing Information
Ten-X Arlene Richardson RE Brkr RB14049544. Online Auction.

CBRE
Matthew Gray
(317) 269-1031

  
CBRE Inc.
Jared Aubrey
(214) 252-1031

Michael Austry
(214) 252-1115

  
Ten-X, LLC
Tyler Ley
(949) 271-0670




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