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Investment Highlights

  • Integrated Security System
  • Dedicated Fiber Optic Line
  • High End Upgrades

Executive Summary

40 N First Avenue, commonly known as The Market, was built in 1918 with a recent complete restoration and listed on the National Historic Register with 25,013 SF of true Class A office space. Net Leased to the State of Indiana expiring 9/30/2032 with one 4-year option to renew. The real estate was leased including furniture, fixtures, and cubicles. Sitting at a Stop Light Location and entrance to Downtown Evansville, a beautiful center atrium with great signage, this is truly a must own location. Showings upon acceptance of LOI / Purchase Agreement. Documents provided by a signed Confidentiality Statement: Survey, Lease, Environmental.
Please contact me direct via email, kennewcomb@fctuckercommercial.com, not through marketing websites.

Attachments

40 N First Ave

Property Facts

Sale Type
Investment NNN
Property Type
Office
Building Size
25,013 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1918/2020
Price
$4,600,000
Price Per SF
$183.90
Cap Rate
7.02%
NOI
$323,027
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
12,000 SF
Building FAR
0.33
Lot Size
1.73 AC
Opportunity Zone
Yes
Zoning
C-4
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100

Property Taxes

Property Taxes

Parcel Number
82-06-19-029-058.016-029
Land Assessment
$121,100
Improvements Assessment
$667,700
Total Assessment
$788,800
  • Listing ID: 40407795

  • Date on Market: 5/5/2026

  • Last Updated:

  • Address: 40 N 1st Ave, Evansville, IN 47710

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