Single Tenant Investment Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30171567
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 3,000 SF
Gross Land Area: 0.51 Acres
Sale Price: $425,000
Unit Price: $141.67 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 7.59%
Last Updated: 11/28/2017

Overview / Comments

Berkshire Hathaway Indiana Realty is pleased to offer a single-tenant investment opportunity in Rushville, Indiana. The property is located on State Highway 3 (1628 North Main Street).

Rushville is located in East Central Indiana situated in a rural area. The town is the county seat for Rush County with a total county-wide population of 16,649 based upon 2016 statistics. The city is comprised of 6,065 citizens with a median household annual income of $48,970. The property located at 1628 N. Main Street was developed in 2007 and the building has 5,000 rentable square feet consisting of three units. The current tenant is MexCal Restaurant which is a family operated restaurant. The land area is .51 acres with an asphalt parking lot with 24 parking spaces. The current annual gross operating income is $50,619 dollars, the asking CAP rate is 7.59%.

Additional Details

Nearest MSA: Indianapolis-Carmel-Anderson
County: Rush
Tax ID/APN: 70-07-29-351-010.000.011
Property Visibility: Excellent
Largest Nearby Street: State Road 3
Traffic/Vehicle Count: 8,500
Area Description: Rushville, Indiana is the county seat town for Rush County, Indiana. The property is located in the general business district on State Road 3 (Main Street).
Tenancy: Single Tenant
Property Condition: Excellent
Year Built: 2008
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding
Total Parking Spaces: 24
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,513 6,535 8,244
Median Age: 43.71 39.73 39.92
Households: 1,545 2,690 3,332
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