former Acropolis Restaurant property

Retail-Commercial for Sale
Catylist Listing ID: 30736235
Property Subtypes: Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 9,987 SF
Gross Land Area: 0.26 Acres
Sale Price: $1,400,000
Unit Price: $140.18 PSF
Property Use Type: Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/6/2021

Overview / Comments

This property sits at the corner of Green River Road & Virginia Street at the center of the retail, entertainment, commercial, medical and professional of the Evansville, IN MSA. It has been a restaurant, so it offers 1200 AMP/3-phase electrical service. The restaurant equipment will remain and is included in the price. This area draws from over 50 miles radius on a regular basis, plus. additional traffic from frequent events, concerts and sports competitions. High traffic location with 35,000 VPD. The building has 6,236sf on the main floor and the 3,751 upstairs is primarily used for large parties and special events.

The property is offered For Sale at $1,400,000 ($140/sf). The offered lease price is $9,500/mo. NNN ($11.41/sf/yr.).

This property is ideally suited for a restaurant, retail or a medical/professional office application.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $17,155 (Annual)
Tax Value Land $112,900
Tax Value Improvements $425,200
Assessed Value - Total($) $538,100 (Annual)
Finance Data Year 2013
Real Estate Taxes - Annual($) $20,204 (Annual)
Tax Value Land $112,900
Tax Value Improvements $526,600
Assessed Value - Total($) $639,500 (Annual)
Finance Data Year 2011
Real Estate Taxes - Annual($) $19,248 (Annual)
Tax Value Land $112,900
Tax Value Improvements $557,700
Assessed Value - Total($) $670,600 (Annual)
Finance Data Year 2010
Real Estate Taxes - Annual($) $20,620 (Annual)
Tax Value Land $112,900
Tax Value Improvements $646,900
Assessed Value - Total($) $759,800 (Annual)
Finance Data Year 2009
Real Estate Taxes - Annual($) $19,328 (Annual)
Tax Value Land $112,900
Tax Value Improvements $646,900
Assessed Value - Total($) $759,800 (Annual)

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Taxing Authority: Vanderburgh County
Tax ID/APN: 82-06-24-012-144.006-027
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Virginia Street
Property Visibility: Excellent
Largest Nearby Street: N. Green River Rd.
Feet of Frontage: 250
Traffic/Vehicle Count: 35,000
Highway Access: 2 blocks north or Hwy 66 (the Lloyd Expwy) and approx. 3 miles from I-69 and US Hwy. 41
Airports: Evansville/Vanderburgh County Regional Airport
Site Description: The property is situated in a busy shopping center and offers ample parking. The subject site is at a hard signaled corner.
Area Description: The North Green River Road corridor is in the center of the regional shopping, entertainment and commercial area of SW Indiana, W Kentucky & SE Illinois...the Evansville, IN MSA.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 5,000 SF
Property Condition: Average
Year Built: 1983
Year Renovated: 2013
Roof Type: Flat
Construction/Siding: HardiePlank Siding
Parking Type: Surface
Parking Description: The subject property owner is responsible for maintaining the surface surrounding their building; but, their customers can take advantage of parking throughout the center.
Zoning Description: C-4
Lot Frontage: 136
Lot Depth: 84
Water Service: Municipal
Sewer Type: Municipal
Legal Description: EASTLAND PLACE PT OUTLOT B

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,005 74,933 133,668
Median Age: 37.75 37.9 38.47
Households: 2,734 32,558 56,778

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