AutoZone-Anchored Strip Center | Online-Only Absolute Auction

±19,952 SF | 2 Parcels Totaling ±3.46 AC | New Albany, IN (Louisville MSA)

Property: 1931 Grant Line Rd & Graybrook Ln, New Albany, IN 47150
Parcels: 22-05-04-201-281.001-008 (improved) & 22-05-04-201-281.000-008 (vacant)
Site Area: ±3.46 AC total (±1.90 AC improved; ±1.56 AC vacant)
Improvements: Single-story, brick façade, steel-reinforced retail center; ±19,952 SF; 4 units; built-up roof; ±23,950 SF asphalt parking; ±2,961 SF canopy; public utilities; 14' wall height.
Anchor/Tenancy: AutoZone (national credit) in place; three additional suites currently vacant (lease-up/redevelopment upside).
Access/Visibility: Signalized, high-traffic Grant Line Rd frontage; ingress/egress via Grant Line Rd and Graybrook Ln.
Surveys/Easements: Recent survey depicting 3 tracts with recorded ingress/egress & utility easements.
Sale Structure: Bankruptcy court–authorized Absolute Auction, free & clear of liens, with the AutoZone lease to be addressed under §365. Buyer to take title per court order. 

Investment Highlights

• Anchor stability: AutoZone provides immediate, durable income from a nationally recognized, investment-grade tenant.

• Value-add: Three remaining suites are vacant—prime opportunity to execute a lease-up plan or pursue re-tenancy/repositioning to modern service retail/medical/quick-serve.

• Expansion/redevelopment flexibility: Steel-reinforced construction and deep parking fields support future expansion scenarios, drive-thru additions, or outparcel concepts (subject to approvals).

• Visibility & accessibility: Prominent Grant Line Rd exposure with dual access (Grant Line & Graybrook), close to rooftops, schools, and daily-needs traffic.

   

• Operational basics in place: Public utilities, ±14' wall height, extensive asphalt paving, canopy, and straightforward single-story retail layout.

   

• Court-supervised certainty: Chapter 7 free-and-clear sale process (per Trustee motion) provides clean conveyance and defined closing timeline.

   

Site & Building Snapshot (for portal “Quick Facts”)

• Gross Building Area: ±19,952 SF (4 units)

• Land Area (Improved Parcel): ±1.90 AC

• Land Area (Vacant Parcel): ±1.56 AC

• Parking/Paving: ±23,950 SF asphalt (striped)

• Canopy: ±2,961 SF

• Wall Height: ±14'

• Construction: Brick façade; steel-reinforced; built-up roof

• Utilities: Public (electric, water, sewer, gas indicated as available in public utility notes)

• Zoning/Use: Community shopping center (Class 426); city utilities; neighborhood model “Commercial” (buyer to verify zoning specifics)

• Ingress/Egress: Recorded survey easements; access via Grant Line Rd & Graybrook Ln.

   

Auction Terms

• Absolute Auction: Property sells to the highest bidder regardless of price.

• Buyer’s Premium: 10% added to the high bid to determine contract price.

• Deposit: 10% down at contract execution.

• Balance Due: at closing per published terms.

• As-Is/Where-Is: No contingencies.

• Court Approval: Transfer free & clear of liens per Bankruptcy Court order (AutoZone lease )

Due Diligence Package 

• Current survey with tract map & easements

• County assessment cards & improvement summary (GBA, unit count, wall height, paving, canopy)

• Bankruptcy Trustee motion detailing sale process

• Any available leases, estoppels, and expense/utilities info (as released)

AUCTION DATES

Bidding Opens: Friday, November 14th at 10:00 AM (EST)

Bidding Begins to Close: Monday, November 24th at 7:00 PM (EST)

Closing: Thursday, January 8, 2025 by 5:00 PM