9919 Pointe Vw DrNewburgh, IN 47630

Property Details for 9919 Pointe Vw Dr

Year built

2024

Lot size

1.00 AC

Property size (Sq ft)

2,166 SF

Property type

Retail properties

Description

This offering presents a unique opportunity to acquire a fee-simple, newly constructed (2024) Starbucks located in Newburgh, Indiana, a rapidly growing suburb of Evansville. The property boasts a 2,166 square foot building on a one-acre lot, featuring 44 parking spaces and excellent visibility on Pointe View Drive. The property benefits from a strong, credit-rated tenant with a 9.4-year remaining lease term (expiring 03/31/2034) and four 5-year renewal options. The lease is a triple-net (NNN) agreement, meaning the tenant covers all expenses except roof and structure maintenance. Rental income is further secured by a 7.5% rent increase every five years. The property currently generates a net operating income (NOI) of $167,000, representing a 5.75% capitalization rate. The location is strategically positioned within a thriving commercial corridor, near major employers like Deaconess Gateway Hospital and within close proximity to I-69 and IN-66, ensuring high traffic volume (40,593 average daily cars). The surrounding area features a strong demographic profile, with a 3-mile average household income of $139,678. This investment offers a stable, high-yield return with significant long-term growth potential in a prime location. The property's roof is covered by a warranty extending to 2039. This is a 100% occupied, single-tenant property with minimal landlord responsibilities. The asking price is $2,904,348, translating to $1,340.88 per square foot.

Location Insight

City

Newburgh

County

Warrick

State

Indiana

Latitude

37.9768

Longitude

-87.4303

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