Retail Site

Retail-Commercial for Sale
Catylist Listing ID: 29852563
Property Subtypes: Free-Standing Building, Retail-Pad, Other
Building Size (RSF): 69,106 SF
Gross Land Area: 5 Acres
Sale Price: $1,490,000
Unit Price: $21.56 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/20/2017

Overview / Comments

Retail Site located in Seymour, Indiana, one of Hoosier State' s fastest growing cities, located ½ block north of the signalized intersection of U.S. Highway 50 (Tipton Street). The property was previously used for a building supply business and consists of 66,198 SF comprised of 26,250 SF of enclosed retail space on the main level with 900 SF of office area on the mezzanine level. The utility space is comprised of 31,600 SF enclosed utility space, and there is an additional 7,448 SF pole building. The improvements are situated on 4.996 Acres with 600' of frontage and approximately 670' of depth and is zoned C-5. There is currently 11,250 SF leased of retail space leased with a remainder of 15,000 SF available for use by an owner occupant or lease tenant. There are currently 80 marked parking spaces with additional parking available in the un-marked paved parking area. The current annual property taxes are $29,763.75.

The property is located adjacent to Tractor Supply and Bob Poynter Chrysler-Jeep dealership. It is just off East Tipton Street and visible from the Highway. There is a large monument sign in front of property. The current Tenant Raper' s Rent to Own has occupied the adjacent space since 2008. The property is located 1/2 block north of U.S. Highway 50 (Tipton Street) on the West side of Myers Street. The traffic count on U.S. Highway 50, approximately 28,000 per day.

Financials

Finance Data Year 2013
Real Estate Taxes - Annual($) $28,314 (Annual)
Tax Value Land $759,400
Tax Value Improvements $397,200
Assessed Value - Total($) $1,156,600 (Annual)
Finance Data Year 2011
Real Estate Taxes - Annual($) $48,340 (Annual)
Tax Value Land $1,099,100
Tax Value Improvements $1,073,300
Assessed Value - Total($) $2,172,400 (Annual)
Finance Data Year 2010
Real Estate Taxes - Annual($) $48,132 (Annual)
Tax Value Land $1,099,100
Tax Value Improvements $1,075,000
Assessed Value - Total($) $2,174,100 (Annual)

Additional Details

Nearest MSA: Seymour
County: Jackson
Tax ID/APN: 36-66-16-400-005.002-009
Zoning: C-5
Retail Clientele: General, Business
Property Visibility: Good
Site Description: The property is located adjacent to Tractor Supply and Bob Poynter Chrysler-Jeep dealership. It is just off East Tipton Street and visible from the Highway. There is a large monument sign in front of property. The current Tenant Raper' s Rent to Own has occupied the adjacent space since 2008. The property is located 1/2 block north of U.S. Highway 50 (Tipton Street) on the West side of Myers Street. The traffic count on U.S. Highway 50, approximately 28,000 per day.
Tenancy: Single Tenant
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Excellent
Year Built: 1989
Legal Description: PT W1/2 NE SE 16-6-6 4.996A

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,611 19,809 25,201
Median Age: 33.97 35.96 37.34
Households: 1,953 7,816 9,880

Source

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