Subway/Snappy Tomato Pizza

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30171371
Property Subtypes: Restaurant
Status: Pending
Building Size (RSF): 3,000 SF
Sale Price: $375,000
Unit Price: $125 PSF
Property Use Type: Investment
Building Name: Subway/Snappy Tomato Pizza
Sale Terms: Cash to Seller
Cap Rate: 8.43%
Last Updated: 10/12/2017

Overview / Comments

Berkshire Hathaway is pleased to present this investment opportunity located in Brownstown, Indiana. Brownstown is the county seat for Jackson County and located along U.S. Highway 50 (Commerce Street). The town is approximately 10 miles west of Seymour and situated 55 miles North of Louisville, Kentucky and 75 South of Indianapolis. This building is situated adjacent to the Jackson County Courthouse and Dollar General in the heart of the downtown business district and situated between two traffic signals. The building was built in 2002 and has been leased by both tenants for the past 15 years. The Subway lease is currently $1825 per month with the Tenant responsible for the pass-thru expenses with 3 years remaining on the lease. Snappy Tomato has a modified gross lease, the Landlord is responsible for property taxes, insurance and grounds maintenance, the monthly rent is $1525.00. The building is 3000 SF with (2) public restrooms and is equally divided between the two tenants. The design is an open concept so upon entering the building patrons may choose between the two restaurants and designed with cross seating. There is a total of 13 parking spaces on the property and off-street parking available on the adjacent street on the north side of the parcel. The population within in a 3 mile radius is 4,126, there are 1,709 households with an annual median household income of $47,920. Brownstown is also the home to Brownstown Central Schools which serves five townships in Western Jackson County. The INDOT Average Daily Traffic Count is 13,447 cars per day.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $7,383 (Annual)
Tax Value Land $45,900
Tax Value Improvements $251,400
Assessed Value - Total($) $297,300 (Annual)
Finance Data Year 2013
Real Estate Taxes - Annual($) $9,384 (Annual)
Tax Value Land $45,900
Tax Value Improvements $322,500
Assessed Value - Total($) $368,400 (Annual)
Finance Data Year 2011
Real Estate Taxes - Annual($) $6,858 (Annual)
Tax Value Land $45,900
Tax Value Improvements $239,100
Assessed Value - Total($) $285,000 (Annual)
Finance Data Year 2010
Real Estate Taxes - Annual($) $6,602 (Annual)
Tax Value Land $51,200
Tax Value Improvements $228,600
Assessed Value - Total($) $279,800 (Annual)
Finance Data Year 2009
Real Estate Taxes - Annual($) $6,318 (Annual)
Tax Value Land $51,200
Tax Value Improvements $231,500
Assessed Value - Total($) $282,700 (Annual)

Additional Details

Nearest MSA: Seymour
County: Jackson
Tax ID/APN: 36-54-14-102-068.000-002
Zoning: HIGHWAY BUSINESS
Property Located Between: Jackson Co. Courthouse & Dollar General
Largest Nearby Street: U.S. Highway 50 (Main Street)
Traffic/Vehicle Count: 13,447
Highway Access: Two Curb cuts to U.S. Highway 50
Area Description: The building houses two restaurants and is located in downtown Brownstown, Indiana located in the heart of the business district. The area is comprised of local business, national retailers including Dollar General, Dollar Tree, CVS and local banks including The People's Bank, Jackson County Bank, also local business including Brownstown Hardware, Lucas & Ackerman Building Supply and others.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2002
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 13
Parking Type: Surface
Parking Description: There are 13 parking spaces on site and off-street parking available along Cross Street.
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOT 97

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,549 4,207 6,593
Median Age: 34.71 38.88 39.99
Households: 541 1,595 2,534
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