GOODWILL 75 Bill's Boulevard Martinsville, IN 46151 - NET LEASE INVESTMENT OFFERING - The Boulder Group
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NET LEASE INVESTMENT OFFERING GOODWILL 75 Bill’s Boulevard Martinsville, IN 46151
TABLE OF CONTENTS
TABLE OF CONTENTS
I. Executive Profile II. Location Overview III. Market & Tenant Overview
Executive Summary Photographs Demographic Report
Investment Highlights Aerials Market Overview
Property Overview Site Plan Tenant Overview
Map
NET LEASE INVESTMENT OFFERING
DISCLAIMER STATEMENT
DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential.
STATEMENT: It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made
available to any other person or entity without the written consent of The Boulder Group.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective
purchasers, and to establish only a preliminary level of interest in the subject property. The information
contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not
made any investigation, and makes no warranty or representation.
The information contained in this Offering Memorandum has been obtained from sources we believe to be
reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained
herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no
warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forth herein.
NET LEASE INVESTMENT OFFERING
EXECUTIVE SUMMARY
EXECUTIVE The Boulder Group is pleased to exclusively market for sale a single tenant net leased Goodwill property located
SUMMARY: in Martinsville, Indiana. The property is located in a retail corridor with visibility along the main north-south
thoroughfare. The tenant, Goodwill Industries of Central Indiana, Inc., is one of the largest Goodwill operators
with a network of more than 160 store and donation centers throughout 39 counties in Indiana. The tenant has
operated at this location since 2007. This is a proven location for Goodwill as evident by an early lease renewal.
The 12,300 square foot property has visibility along Indiana State Road 37, the area’s primary thoroughfare, which
experiences traffic counts of 26,410 vehicles per day. The property benefits from its position within a strong retail
corridor that features Walmart Supercenter, Kroger, Walgreen’s, Ace Hardware and a number of quick service
restaurants. There are a number of hotels in the immediate area including Best Western Inn, Super 8 and Holiday
Inn Express & Suites. The property is also located within close proximity to multiple residential communities, local
businesses, and schools.
Goodwill has over 4 years remaining on their lease which expires May 2, 2022. The lease features rental escalations
in each of the two 5-year renewal option periods. The location was a build-to-suit development for Goodwill and
includes a drive-thru donation center. Goodwill is a nonprofit organization that provides job training, employment
placement services, and other community-based programs for seniors, veterans, and people with disabilities, criminal
backgrounds and other specialized needs.
NET LEASE INVESTMENT OFFERING
INVESTMENT HIGHLIGHTS
INVESTMENT • Build-to-suit development for tenant (2007)
HIGHLIGHTS:
• Goodwill has an excellent track record at this location
• Drive-thru donation center
• Exceptional visibility along Indiana State Road 37 (26,410 VPD)
• Renewal options with rental escalations
• Benefits from its position within a retail corridor anchored by a Walmart Supercenter, Kroger and
Walgreens
NET LEASE INVESTMENT OFFERING
PROPERTY OVERVIEW
PROPERTY Price: $2,420,286
OVERVIEW:
Cap Rate: 7.00%
Rent Schedule: NOI Escalation Date
$169,421
$175,454 5/3/2022 (Option 1)
$181,488 5/3/2027 (Option 2)
Renewal Options: Two 5-Year
Lease Commencement Date: May 3, 2007
Lease Expiration Date: May 2, 2022
Tenant: Goodwill Industries of Central Indiana, Inc.
Year Built 2007
Parking: 91 Spaces
Lease Type: NN (Roof, Structure & HVAC)
Building Size: 12,300 SF
Land Size: 2.78 Acres
NET LEASE INVESTMENT OFFERING
PHOTOGRAPHS NET LEASE INVESTMENT OFFERING
AERIAL NET LEASE INVESTMENT OFFERING
AERIAL NET LEASE INVESTMENT OFFERING
SITE PLAN NET LEASE INVESTMENT OFFERING
MAP NET LEASE INVESTMENT OFFERING
DEMOGRAPHIC REPORT
DEMOGRAPHIC
Population 1-Mile 3-Mile 5-Mile
REPORT:
Total Population 5,691 14,011 19,164
Total Households 2,287 5,478 7,417
Income 1-Mile 3-Mile 5-Mile
Median Household Income $35,671 $40,974 $47,784
Average Household Income $44,826 $54,727 $62,838
NET LEASE INVESTMENT OFFERINGMARKET OVERVIEW
MARKET Martinsville, Indiana
OVERVIEW: Martinsville was founded in 1822 and is the County Seat of Morgan County, Indiana. The Morgan County
courthouse, completed in 1859, is one of the very few pre–Civil War courthouses remaining in Indiana.
Martinsville has a population of roughly 12,000 people. It has been called the “Gateway to Southern
Indiana” in virtue of its central southern location and proximity to several major highways which connect
to key destinations like Bloomington (20 miles) and downtown Indianapolis (30 miles).
Martinsville has an array of different businesses, with the court square district and downtown area being
host to a number of locally owned restaurants, bakeries, and shops, and areas like the Grand Valley Shopping Center and
Artesian Square being host to a number of restaurant chains and retail shops.
Martinsville is home to some unique industry. Twigg Aerospace, a manufacturer of jet engine components for the aerospace
industry and FBF Originals, a sock manufacture with licenses with the NFL, NHL, NBA and NCAA, are headquartered in
Martinsville. Nice-pak Products, a manufacturer of wet/pre-moistened wipes, is the largest employer in Martinsville. But the
best known industry in Martinsville’s history was its water. Mineral water was discovered in Martinsville in the late 1800s by
Sylvanus Barnard while he was drilling for natural gas. His discovery helped Martinsville become home to some of the nation’s
leading health resorts. At one time, Martinsville had 11 different sanitariums. People in search of physical or mental comfort
patronized the sanitariums, all of which were based around Artesian mineral water springs, which is still thought by many to
possess tremendous healing properties.
www.martinsville.in.gov
NET LEASE INVESTMENT OFFERINGTENANT OVERVIEW
TENANT Goodwill
OVERVIEW: Goodwill Industries of Central Indiana, Inc., the tenant, is one of the largest Goodwill operators with a network of more
than 160 store and donation centers throughout 39 counties in Central and Southern Indiana. They are an expanding and
dynamic retail operation.
Goodwill Industries International Inc. (Goodwill) is an American nonprofit organization that provides job training,
employment placement services, and other community-based programs for seniors, veterans, and people with disabilities,
criminal backgrounds and other specialized needs. Goodwill has become a mainstream retail outlet, specializing in a wide
selection of choice resale goods. Goodwill collects donated clothing and household items and in turn sells those goods
at a fair market value to support their mission. Revenue from sales of donated items provides funding for vocational
training and other Goodwill programs and services.
Goodwill operates as a network of independent, community-based organizations in South Korea, Venezuela, Brazil,
Mexico, Panama, Uruguay, the United States, Canada, and 8 other countries. It slowly expanded from its founding
in 1902 and was first called Goodwill in 1915. Goodwill’s logo is a stylized letter g, resembling a smiling face. It was
designed by Joseph Selame in 1968.
Website: www.goodwill.com
Founded: 1902
Number of Employees: 312,000+
Corporate Headquarters: Rockville, Maryland
NET LEASE INVESTMENT OFFERINGRandy Blankstein President 847.562.0003 randy@bouldergroup.com John Feeney Vice President 847.562.9280 john@bouldergroup.com 666 Dundee Road, Suite 1801 Northbrook, IL 60062 www.bouldergroup.com
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