Investment Offering
Bloomington, IN - Kroger
1825 Kinser Pike | Bloomington, IN 47404
$8,750,000
Price6%
Cap Rate$525,000
NOI54,161
± SF Offering GLADescription
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade, freestanding, Kroger investment property located in Bloomington, IN. Kroger has an extensive historical occupancy of 17+ years with an additional 13 years remaining on lease and 5 (5-Year) option periods to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB) and is absolute NNN, making it an ideal, management-free investment opportunity for a passive investor.
Location
Kroger is strategically located along State Highway 45 with clear visibility and access to an average of 36,500 vehicles passing by daily. The asset also benefits from nearby access to Interstate 69 (39,800 VPD), making it an ideal and centralized location for employees and customers. Kroger is ideally situated within a dense retail trade area and is within proximity to Whitehall Crossing (501K+ SF), Eastland Plaza (124K+ SF), College Mall (949K+ SF), and other major shopping centers. In addition, the property is near numerous single-family communities and multi-family complexes. The 5-mile trade area is supported by over 109,000 residents and 66,800 daytime employees with a healthy average household income of $77,568.