

Metro Plaza (Evansville, IN)
1016 S Weinbach Ave | Evansville, Indiana 47714

Property Summary
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Price: $1,000,000
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CAP Rate: 7.35%
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Leasable Area: 12,884 SF
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Status: Available
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NOI: $73,478 / Year
Investment Highlights
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Below market rents of current at $8.00 per square foot and local market 1-3 star neighborhood strip center are at $12.00 - $13.00 per square foot. Highly replaceable rents
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100% Occupied neighborhood strip center with local Market Tenant
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Tenant Mix is non-credit and mom/pop providing local market servicing which increase business profitability for tenant
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Majority of Tenants have expressed interest in extending leases to provide credibility to the area
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Evansville is the third largest city, by volume, in Indiana.
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Desirability and credibility to the future success of tenants with a 5 mile population exceeding 120,000 people and an average household income of $59,828
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Property is located on a signalized hard corner with traffic counts exceeding 25,000 cars per day | This demonstrates credibility to the local market success of a neighborhood strip center
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Less than One (1.0) mile away from Benjamin Bosse High School which is a local neighborhood high school with an enrollment of 1,000 students and faculty
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Near University of Evansville Indiana is a Four (4) year public college university with an endowment of more than $100 million and a student and faculty enrollment of more than 3,000
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Premium Traffic Counts at 25,000 VPD

Neil Naran

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The Naran Group of Marcus & Millichap is a net lease investment group. Marcus & Millichap is the most dominant brokerage group in the country with more than 80+ offices and nearly 2,000 agents throughout the US and Canada. Marcus & Millichap currently closes more transactions than any other firm.