Investment Offering
Evansville, IN - Sunbelt Rentals
5520 Vogel Rd | Evansville, IN 47715
$4,927,000
Price6.15%
Cap Rate$302,997
NOI10,000
± SF Offering GLADescription
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an industrial NNN leased, Sunbelt
Rentals investment property located in Evansville, Indiana. The tenant, Sunbelt Rentals, recently signed a brand new 10 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 3% rental increases in years 4 & 5 and 2% annual increases throughout the remainder of the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is industrial NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.
Location
The Sunbelt Rentals is located near the signalized, hard corner intersection of N Green River Road and Vogel Road which combine to average over 41,300 vehicles passing by daily. N Green River Road, is the major retail thoroughfare serving the city of Evansville. The Sunbelt Rentals is in close proximity to Eastland Mall, which features national/credit tenants such as Macy’s, Dillard’s, JCPenney, Olive Garden, and Starbucks. The asset is near Lloyd Crossing, a Walmart Supercenter and The Home Depot anchored center featuring national/credit tenants including Kohl’s, Burlington, Staples, PetSmart, McDonald’s, and IHOP. In addition, the asset is in close proximity to Evansville Pavilion Shopping Center, a Target anchored center featuring other tenants such as Ulta, DSW, and HomeGoods. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Costco, Sam’s Club, Lowe’s, Chick-fil-A, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 124,100 residents and 96,500 employees with an average household income of $76,746.
Documents & Links
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 Offering Memorandum |  |  |