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Reed Office Building & 4Plex Investment 2701-2709 Washington ave 18,725 SF 100% Leased Office Building Evansville, IN 47714 $960,000 ($51.27/SF) 9.70% Cap Rate
EXECUTIVE SUMMARY
Reed Office Building
Endodontist office anchor tenant. Additional mix of professional tenants including accountants, attorneys, financial advisors, estheticians, robotic engineer, massage therapist, VET Hearing center, and Exotic Plants. Some tenants pay for Internet that is provided by landlord.
4 Plex
All 4 units 1Bedroom/ 1Bath. Includes an onsite washer and dryer and covered carport parking. 2 units remodeled in the past 2 years. Tenants pay for water & electricity. Landlord pays common area electric.
Financials Include Both Buildings
Additional financials with NDA. Leases provided with accepted offer.
9.7% CAP
Endodontist office anchor tenant. Additional mix of professional tenants including accountants, attorneys, financial advisors, estheticians, robotic engineer, massage therapist, VET Hearing center, and Exotic Plants. Some tenants pay for Internet that is provided by landlord.
4 Plex
All 4 units 1Bedroom/ 1Bath. Includes an onsite washer and dryer and covered carport parking. 2 units remodeled in the past 2 years. Tenants pay for water & electricity. Landlord pays common area electric.
Financials Include Both Buildings
Additional financials with NDA. Leases provided with accepted offer.
9.7% CAP
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$45,108
|
$2.41
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $45,108 |
| Annual Per SF | $2.41 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
18,725 SF
Building Class
B
Year Built/Renovated
1959/2022
Price
$960,000
Price Per SF
$51.27
Cap Rate
9.70%
NOI
$93,120
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
15,418 SF
Building FAR
0.72
Lot Size
0.60 AC
Zoning
CO-2 R-4
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $105,600 | |
| Land Assessment | $32,300 | Total Assessment | $137,900 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$32,300
Improvements Assessment
$105,600
Total Assessment
$137,900
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Reed Office Building & 4Plex Investment | 2701-2709 Washington ave
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