Downtown Historic Property

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30676338
Property Subtypes: Street Retail
Building Size (RSF): 17,214 SF
Gross Land Area: 5,472 SF
Sale Price: $1,200,000
Unit Price: $69.71 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/16/2021

Overview / Comments

An ideal investment for the new owner to take advantage of the explosive growth taking place in Downtown Evansville. Expand or relocate an existing business, lease out or explore other creative ideas, such as finishing the remaining two floors for use as loft space or offices. This building is a beautiful piece of Evansville's history and will serve the next owner for years to come.

With a population of nearly 121,000 people within the city limits and more than 300,000 people in the metropolitan area, Evansville is the third largest city in Indiana. Evansville benefits from a great location, located within a three-hour drive to St. Louis, Indianapolis, Nashville and Louisville. The City is home to both the University of Southern Indiana and the University of Evansville, which have a combined enrollment of over 14,000 students. Downtown is growing quickly, adding over $380 million in renovations and development in the past five years. Such projects include the DoubleTree Hotel, Indiana University School of Medicine, Tropicana Evansville Casino, Post House Apartments and the recently announced Fifth and Main project, which includes the reconstruction of the 420 Tower, Sycamore Building and a park.

-Stunning historic building located in growing Evansville Central Business District
Downtown area has experienced explosive growth over the past five years
-Approximately 8,854 square feet of renovated space with a prominent main entrance and awning
-Additional 8,360 square feet of unfinished space on upper floors, plus 4,675 square feet basement
-Within walking distance to the Ford Center, IU School of Medicine, the Ohio River, Civic Center and more
-Extensive remodel completed in 2015
-Freight elevator
-Endless possibilities

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Taxing Authority: Vanderburgh County
Tax ID/APN: 82-06-30-020-022.007-029
Zoning: C-3
Property Located Between: Third and Fourth Streets
Property Visibility: Good
Feet of Frontage: 38
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Good
Year Built: 1895
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Brick, Wood Frame
Freight Elevators: 1
Lot Frontage: 38'
Lot Depth: 144'

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,208 69,644 134,212
Median Age: 37.82 36.26 37.69
Households: 4,921 29,177 57,568


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