Academy Sports | 1600 Veterans Pky
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Academy Sports 1600 Veterans Pky
63,281 SF 4-Star Retail Building Jeffersonville, IN 47130 £9,421,659 (£149/SF) 6.50% Net Initial Yield
Investment Highlights
- Over 13 Years Remaining | Scheduled Rental Increases | Corporate Signed Lease | Well-Known & Established Brand
- Dense Retail Trade Area | Adjacent to Major Community Center | Nearby Shopping Centers | Strong National/Credit Tenant Presence
- Direct Residential Consumer Base |Strong Demographics in 5-Mile Trade Area
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Signalized, Hard Corner Intersection | Centralized Location | Louisville MSA | Excellent Visibility & Access
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate signed, Academy Sports + Outdoors investment property located in Jeffersonville, IN (Louisville MSA). The tenant, Academy, LTD, has over 13 years of firm term remaining with an additional 3 (5-year) option periods left to extend. The lease features $0.50 PSF 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 (NASDAQ: ASO) and is NNN leased, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1938, Academy Sports + Outdoors is among the largest American sporting-goods store chains with 280+ operating stores as of 2023.
Academy Sports is strategically located near the signalized, hard corner intersection of Hamburg Pike and Veterans Parkway, averaging a combined 27,500 vehicles passing by daily. The asset benefits from nearby access onto Interstate 65 (109,000 VPD) and Interstate 265 (65,200 VPD), making this an ideal and centralized location with easy commutes. Academy Sports is ideally situated adjacent to Jeffersonville Town Center, a major Community Center anchored by Hobby Lobby, Burlington, Petco, and TJ Maxx. The additional nearby shopping centers include Waterford Park North (217K+ SF), Waterford Park South (124K+ SF), River Falls Mall (957K+ SF), and others. The surrounding national/credit tenants include Menards, Walmart Supercenter, Target, Lowe’s, PetSmart, Meijer, and others. The strong tenant presence drives a loyal, local customer base to the trade area and supports the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Colonial Village (100 units), Armstrong Farm (168 units), Yellowwood Terrace (202 units), The Warren (264 units - U/C), and others, providing
a direct residential consumer base. The 5-mile trade area is supported by over 135,900 residents and 110,100 daytime employees, with a healthy average household income of $77,468.
Academy Sports is strategically located near the signalized, hard corner intersection of Hamburg Pike and Veterans Parkway, averaging a combined 27,500 vehicles passing by daily. The asset benefits from nearby access onto Interstate 65 (109,000 VPD) and Interstate 265 (65,200 VPD), making this an ideal and centralized location with easy commutes. Academy Sports is ideally situated adjacent to Jeffersonville Town Center, a major Community Center anchored by Hobby Lobby, Burlington, Petco, and TJ Maxx. The additional nearby shopping centers include Waterford Park North (217K+ SF), Waterford Park South (124K+ SF), River Falls Mall (957K+ SF), and others. The surrounding national/credit tenants include Menards, Walmart Supercenter, Target, Lowe’s, PetSmart, Meijer, and others. The strong tenant presence drives a loyal, local customer base to the trade area and supports the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Colonial Village (100 units), Armstrong Farm (168 units), Yellowwood Terrace (202 units), The Warren (264 units - U/C), and others, providing
a direct residential consumer base. The 5-mile trade area is supported by over 135,900 residents and 110,100 daytime employees, with a healthy average household income of $77,468.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
63,281 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2022
Price
£9,421,659
Price Per SF
£149
Net Initial Yield
6.50%
NOI
£612,409
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Land Acres
23.55 AC
Zoning
PD - Planned Development
Parking
329 Spaces (5.2 Spaces per 1,000 SF Leased)
Frontage
1,001 ft on Veterans Pky
Amenities
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 10-21-03-300-743.000-009 | Improvements Assessment | £2,736,358 |
| Land Assessment | £165,033 | Total Assessment | £2,901,391 |
PROPERTY TAXES
Parcel Number
10-21-03-300-743.000-009
Land Assessment
£165,033
Improvements Assessment
£2,736,358
Total Assessment
£2,901,391
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Academy Sports | 1600 Veterans Pky
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