5520 Vogel Rd - Service FOR SALE


Evansville, IN 47715- East Evansville
$4,927,000 USD
949-520-1050
5520 Vogel Rd, Evansville, IN for Sale
$4,927,000 USD
Service - FOR SALE
1/10
null | 6.15% Cap Rate

5520 Vogel Rd
Evansville, IN 47715
East Evansville


HIGHLIGHTS

  • Brand-new, built-to-suit construction asset
  • Corporately guaranteed lease from Sunbelt Rentals, Inc.
  • New, 10-year lease with minimal Landlord respons

OVERVIEW

Brand-new, built-to-suit construction asset Corporately guaranteed lease from Sunbelt Rentals, Inc. New, 10-year lease with minimal Landlord responsibilities Rare, attractive rental increases | There are 3% increases in Years 4 & 5,vfollowed by 2% annual increases, thereafter | Yields an average CAP of 6.74% over the base term, assuming purchase at List Price Site is walking distance to numerous major shopping centers and points of interest, including: Eastland Mall | 1MM+ SF shopping mall anchored by Dillard’s, Macy’s, and JCPenney Lloyd Crossing | 540,000 SF shopping center anchored by Home Depot and Walmart Supercenter | Other tenants include PetSmart, Burlington, Kohl’s, Party City, and Staples Evansville Pavilion | 410,500 SF shopping center anchored by Target, T.J. Maxx, and HomeGoods A Sam’s Club-anchored shopping center A shopping center anchored by Academy Sports, Fresh Thyme, and Marshalls A Lowe’s and ALDI-anchored shopping center A Costco-anchored shopping center Shoe Carnival Towne Center | 202,500+ SF shopping center anchored by Shoe Carnival and JOANN Stores A Menards and Meijer-anchored shopping center East Lloyd Commons | 160,000 SF shopping center anchored by DICK’S and Best Buy Eastland Shoppes | Gabe’s-anchored shopping center A major auto dealer corridor that includes Mercedes-Benz, Honda, Kia, Mazda, Chevy, Hyundai, Nissan, among others I-69 which is a main thoroughfare connecting Evansville to Indianapolis Harrison high school | ±1,200 students Dense area | 55,600+ residents within a 3-mile radius  Sunbelt rentals is a leader in the equipment rental industry with 1,200+ locations nationwide They are the 2nd largest equipment rental company in the world with a market cap of $28.9b+ (as of 12/16/24) Ashtead group, sunbelt’s parent company, holds a credit rating of BBB- (S&P) The company plans to grow revenue 30%+ over the next 5 years Rent increases: 3% in years 4 & 5; 2% annually thereafter Landlord Responsibilities: Roof, Structure, & Parking lot

FOR SALE DETAILS

PRICE

$4,927,000 USD

PRICE/SF

$493 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunbelt Rentals | Brand New | Infill

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Service

ADD'L SUBTYPES

Storefront, Distribution, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

UTILITIES

-

CLEAR CEILING HT

20 Ft

DOCKS

-

DRIVE INS

11

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.94

LAND SF

215,186

ZONING

C-4 Commercial

APN/PARCEL ID

82-06-24-012-152.005-027,82-06-24-012-152.006-027,82-06-24-017-159.042-027

ASK ABOUT THIS PROPERTY

Dave FarisSRS National Net LeaseMore Info
949-520-1050

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Dave FarisSRS National Net LeaseMore Info
949-520-1050

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.