Retail•Free Standing Building•For Sale

Former grocery store near downtown

200 N Main Street, Evansville, Indiana 47710

Sale Price $1,070,000
Sale Type Owner User
Zoning C-4
Bldg Type Multi-Tenant
Year Built 1967
Year Renovated 2012
Stories 1
Vacancy 73%
Gross Bldg 34,375 SqFt
RBA 34,750 SqFt
Land Area 2.95 Acres
Ceiling Height 16.0 Ft
Market Evansville Henderson MSA
Sub-Market Evansville Central
Available subject to right of first refusal - Former grocery in densely populated area. Former tenant is paying $9,950/month through 11/30/19. The majority of this building is leased to Houchen's for the operation of an IGA Grocery. Houchens closed this store in early 2018 as part of a market repositioning effort. 25k SF of this building is finished out as a grocery and the remainder of the 34k SF building is semi-finished space created when the tenant remodeled and consolidated their footprint in 2012. This presents a unique opportunity for a developer or user to acquire a vacant building with cash flow in place and the possibility of negotiating a buyout of the existing lease with the former tenants. The building is located in the Jacobsville area of Evansville, just north of Downtown, in an area that is the current focus of a revitalization initiative and a $16.7M capital improvement project (completed late 2017) to its streets and infrastructure that is expected to increase property values, attract new businesses and additional private development in one of the most culturally significant parts of the City. 25,000 SF built out as a grocery store. Expandable up to 34,375 SF. The building has a drop ceiling installed at 12', is completely sprinkled, has two front-facing roll-up doors, a side dock, and a second floor with an approximate 8k SF of mezz space with 8' ceiling and concrete floors not included in the SF total. Located along the west side of Main Street 2 blocks north of the Lloyd Expressway.
  • Located in high-density residential neighborhood
  • Area is focus of major capital improvement project
  • Significant downtown projects under construction will draw additional population and higher income households to urban core
4/16/2019 3:33:15 PM 6/3/2019 7:43:58 PM
Scott Edmond CCIM
SVN | The Martin Group


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