$1 Auction - REIT Sale-Former Advance Auto 1575 Hart St 6,760 SF Retail Building Vincennes, IN 47591 $50,000 ($7.40/SF)

Marcus & Millichap is pleased to present a vacant, free-standing retail building located at 1575 Hart Street, Vincennes, Knox County, Indiana 47591 (the “Property”). Formerly occupied by Advance Auto Parts, the Property is being offered significantly below replacement cost, providing an excellent opportunity for owner/users or investors to acquire a highly visible and strategically positioned asset at a significant discount. FIRST BID MEETS RESERVE!
Built in 1998, the Property consists of a ±6,760-square-foot, single-story free-standing retail building situated on ±39,965 square feet (±0.917 acres) with a concrete surface parking lot with 33 spaces. The site is strategically positioned with ±151 feet of frontage along Hart Street which sees approximately ±14,974 vehicles per day (VPD), ensuring visibility and accessibility. The Property was leased to Advance Auto Parts on a triple-net (NNN) basis and presents a value-add opportunity through lease-up at long-term market rates. Zoned C-2, Central Business District, the Property accommodates a wide range of commercial uses, enhancing its appeal to both a diverse variety of end-users and investors alike.
Vincennes, Indiana is a historic river city located on the Wabash River in southwest Indiana, roughly halfway between Indianapolis and St.?Louis, and serves as the county seat of Knox County with solid regional connectivity via U.S. Highways?41 and?50. The local economy is anchored by education (notably Vincennes University), healthcare, manufacturing, and government services, which provide a stable employment base and diversified commercial demand. The Property benefits from frontage along Hart Street (±14,974 VPD) within a dense and established commercial area. Hart Street serves as a major arterial roadway with nearby access to US Hwy 41 (±19,147 VPD) providing excellent regional connectivity. Retail activity is further supported by strong nearby national and local retailers including Walmart, Lowe’s, CVS, Burger King, Dollar General, Culver’s, Walgreens, Aldi, and Hobby Lobby. The Property is positioned within a dense trade area, serving ±23,006 residents with an average household income of $77,091 within a 5-mile radius.