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The Market 40 N 1st Ave 25,013 SF 4-Star Office Building Evansville, IN 47710 $4,600,000 ($183.90/SF) 7.02% Cap Rate
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.
Please contact me direct via email, kennewcomb@fctuckercommercial.com, not through marketing websites.
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
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Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 82-06-19-029-058.016-029 | Improvements Assessment | $667,700 |
| Land Assessment | $121,100 | Total Assessment | $788,800 |
Property Taxes
Parcel Number
82-06-19-029-058.016-029
Land Assessment
$121,100
Improvements Assessment
$667,700
Total Assessment
$788,800
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Contact the Sale Advisor
The Market | 40 N 1st Ave