Jeffersonville, IN - PharmaCord

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, corporate signed, Pharmacord investment property located in Jeffersonville, IN (Louisville MSA). The tenant, Pharmacord, LLC, has over 8.5 years of firm term remaining with an additional 1 (5-year) option period left to extend. The lease features scheduled rental increases throughout the initial term along with a FMV increase at the beginning of the option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is NNN with limited landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor.

The subject property is strategically located along Veterans Parkway with clear visibility and access to 18,600 vehicles passing by daily. The asset benefits from nearby access onto US Highway 31 (27,000 VPD), Interstate 65 (109,000 VPD), and Interstate 265 (71,600 VPD), making this an ideal, centralized location with easy commutes. The freestanding building is situated within a dense retail corridor with many nearby national/credit tenants including Lowe’s, Menards, Staples, Starbucks, Kroger, ALDI, Target, Walmart Supercenter, and more, providing employees with easy access to food and service-based retailers to accommodate their daily needs. In addition, the asset is within proximity to numerous single-family communities and multi-family complexes including Yellowwood Terrace (202 units), Westminster Village Kentuckiana (234 units), The Slate (264 units proposed), and more, providing a direct residential consumer base as well as a direct potential employee base to draw from. The 5-mile trade area is supported by over 125,200 residents and 75,500 daytime employees, with an average annual household income of $87,162.