12600 SR 57

12600 SR 57, Evansville, Indiana 47725

  • Property Subtypes Car Wash , Garden Center , Retail-Pad , Street Retail , Vehicle Related , Convenience Store , Free-Standing Building
  • Building Size (RSF) 2,232 SF
  • Gross Building Area 2,232 SF
  • Building Status Existing
  • Sale Price $190,000.00 Total
  • Unit Price $85.13 per SF
  • Property Use Type BusinessNet Leased (NNN)Vacant/Owner-UserInvestment
  • Class of Space N/A
  • Total Land Size 2.94 Acres
  • Sale Terms Cash to Seller
  • Cap Rate Undisclosed
  • Last Updated 10/26/2020
  • Days on Market 18 Days
  • Status active

Overview / Comments

This opportunity consists of four single unit apartments with two currently occupied and a 23'x23' block building that was originally a manual car wash. Also included is a minimal billboard lease and 2.94 acres fronting State Road 57 on Evansville's fast growing north side. It can be an income producing property as is and a great investment for future development. The main building is a steel, free span structure that could be gutted and used for a multitude of purposes.

Agent Notes

The sign leases for $800.00 - $900.00 annually and the monthly apartment rent is $350.00 per unit with the owner paying utilities. I would recommend the new owner remodel the apartments and adjust the rent structure with the tenant paying utilities or a higher rent.

Financials

  • Finance Data Year 2020
  • Real Estate Taxes - Annual($) 2,146.16

Additional Details

  • Tax ID/APN 82-04-14-009-079.028-030
  • Zoning C-4, C-2
  • Property Visibility Excellent
  • Total Number of Buildings 2
  • Number of Stories 1
  • Year Built 1964
  • Year Renovated 1984
  • Tax Auth Vanderburgh County
  • Land Ownership Fee Simple
  • Legal Description PT N 1/2 NE 14-5-10
  • Zoning Description Commercial C-4 and C-2

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