1331 W Franklin St
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1331 W Franklin St
6,228 SF Retail Building Evansville, IN 47710 £433,950 (£70/SF) 8.73% Net Initial Yield
Investment Highlights
- - Business Under New Management with celebrated chef
- - Prime location on W Franklin Street entertainment area
- - Zoned C-4 for flexible commercial use
- - Established destination for the local community
Executive Summary
Introducing 1331 W Franklin St, a meticulously renovated historic building offering a prime opportunity for restaurant or retail investors. This 6,228 SF property, originally constructed in 1919 and thoughtfully restored in 2014, exudes charm and character. With C-4 zoning, the space offers flexibility for a variety of commercial uses. Currently boasting 100% occupancy with reliable long-term tenants, this property also presents the potential for future expansion. The modernized infrastructure ensures low maintenance, providing a stable and attractive investment for those seeking a well-established destination in the heart of Evansville.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£37,920
|
£6.09
|
| Other Income |
£12,868
|
£2.07
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£50,789
|
£8.15
|
| Taxes |
£6,683
|
£1.07
|
| Operating Expenses |
£6,184
|
£0.99
|
| Total Expenses |
£12,868
|
£2.07
|
| Net Operating Income |
£37,921
|
£6.09
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £37,920 |
| Annual Per SF | £6.09 |
| Other Income | |
|---|---|
| Annual | £12,868 |
| Annual Per SF | £2.07 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £50,789 |
| Annual Per SF | £8.15 |
| Taxes | |
|---|---|
| Annual | £6,683 |
| Annual Per SF | £1.07 |
| Operating Expenses | |
|---|---|
| Annual | £6,184 |
| Annual Per SF | £0.99 |
| Total Expenses | |
|---|---|
| Annual | £12,868 |
| Annual Per SF | £2.07 |
| Net Operating Income | |
|---|---|
| Annual | £37,921 |
| Annual Per SF | £6.09 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,228 SF
Building Class
C
Year Built
1800
Price
£433,950
Price Per SF
£70
Net Initial Yield
8.73%
NOI
£37,884
Tenancy
Single
Number of Floors
2
Building FAR
0.49
Land Acres
0.29 AC
Opportunity Zone
Yes
Zoning
C - C4 Commercial
Parking
23 Spaces (3.69 Spaces per 1,000 SF Leased)
Frontage
218 ft on West Franklin Street
Amenities
- Air Conditioning
-
Scott Hyatt -
NAI Prime Commercial
(812) 900-7661
x101
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1331 W Franklin St
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