Highly Visible Westside Restaurant

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30829403
Property Subtypes: Restaurant
Status: Pending
Building Size (RSF): 1,765 SF
Gross Land Area: 0.17 Acres
Sale Price: $279,900
Unit Price: $158.58 PSF
Ceiling: 12 ft.
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 5/4/2023

Overview / Comments

The More With Miller Team is proud to present this fantastic corner lot restaurant building located at the signalized intersection of Franklin St. and St. Joseph Ave. on Evansville's West Side (+/- 19,000 vehicles per day). The property offers +/- 1750 SF and a paved parking surface in addition to its great visibility. In the corner of the parking lot stands a large illuminated sign.

Building only sale.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $3,254 (Annual)
Tax Value Land $76,100
Tax Value Improvements $27,100
Assessed Value - Total($) $103,200 (Annual)
Potential Rental Income $24,710 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Taxing Authority: Vanderburgh County
Tax ID/APN: 82-05-23-018-038.003-025
Zoning: C-4
Retail Clientele: General, Family, Business, Traveler, Recreation, Other
Property Located Between: Saint Joseph Ave & Franklin St
Property Visibility: Excellent
Largest Nearby Street: Franklin St
Feet of Frontage: 245
Highway Access: Lloyd Expressway to the south. IN 62 to the north. US 41 to I-64 to the east.
Airports: Evansville Regional Airport
Area Description: A mixed-use area of medical and general offices, residential and commercial uses. The area centers around St Joseph Ave and Franklin St intersection with a concentration of restaurants, retail, banks, offices, etc. extending along arterial streets. Franklin St is one of the primary nightlife destinations in Evansville. It is reported to be home to the second largest street fair in the US, the West Side Nut Club's Fall Festival. The Westside Nut club fall festival begins just steps away from the entrance of this building. The annual street festival estimates nightly attendance numbers of 100,000-150,000 people, making it the second-largest street festival in the US
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,765 SF
Property Condition: Excellent
Year Built: 1959
Roof Type: Flat
Parking Type: Surface
Parking Description: Paved parking lot
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Internet Access: Fiber Optic
Zoning Description: C-4 General Commercial
Lot Frontage: 175
Lot Depth: 70
Water Service: Municipal
Sewer Type: Municipal
Legal Description: HESS ADD PT L 3 & PT L 4 & PT L 5 BL 1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,170 56,160 118,966
Median Age: 35.05 37.09 37.65
Households: 3,475 24,199 48,496
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