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3300 N 1st Avenue, Evansville, IN

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3300 N 1st Avenue

Evansville, IN 47710 - Northside/Airport Submarket

Property Type:Retail Sub Type:Fast Food Status:Existing Year Built:2005
Building Size:3,235 SF Land Area:.08 AC (3,485 SF)
For Sale Price:$1,681,833 Price/SF:$519.89
Cap Rate:5.91 %
Parking:25 Surface spaces are available; Ratio of 7.65/1,000 SF
Features:Drive Thru

Located NW side of town. High Traffic area. 200 +/- feet of frontage on 1st ave.

Sale Notes:
Stan Johnson Company, on behalf of Ownership, as its exclusive advisor, is pleased to offer for sale the opportunity to acquire the fee simple interest in the Popeyes Louisiana Kitchen located at 3300 North 1st Avenue in Evansville, Indiana (the Property ). The Property is comprised of +/- 3,235 square feet on 1.13 acres, and currently operated by Decatur Fastfood LLC, a multi-unit Popeyes operator led by a seasoned management team with over 30-years of experience in the restaurant industry. The lease is currently guaranteed personally by the principal of the franchisee operator and also by the company entity level (contact agent for details). The lease is absolute NNN in nature with no management responsibilities and currently has 16 years, 7 months remaining on the primary term, which calls for annual rental increases throughout the base term and four (4), five (5) year renewal options.

Evansville is a city in and the county seat of Vanderburgh County along the Ohio River in southwest Indiana. With a population of 117,429 at the 2010 census, it is the state' s third-largest city and the largest in Southern Indiana.

Evansville serves as the commercial, medical and cultural hub of both southwestern Indiana and the Illinois-Indiana-Kentucky tri-state area. The broad economic base of the region has helped to build an economy which is known for its stability, diversity and vitality, led by major industry sectors like health care, finance, education and manufacturing. Four companies listed on the NYSE (Accuride, Berry Plastics, Springleaf Financial and Vectren) and three listed on the NASDAQ (Old National Bank, Shoe Carnival and Escalade) are headquartered in the city, as is the global operations center for S&P 500 Member, Mead Johnson. Other major employers with workforces of 500 or more in the area include AT&T, Bristol-Meyers Squibb, Guardian Automotive/SRG Global, Peabody Energy and T.J. Maxx.

Stan Johnson Company
Blaise Bennett
(312) 777-2449

Brandon Duff
(312) 240-0162

Tom Fritz
(312) 777-2445

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