Corner Retail
For Sale
$265,000
300 Main Street Unit 1A-1, Evansville, IN 47708
Light food service improvements include a grease trap, utility sink, and existing retail buildout.
Property Size1,090 SF
Days on Market53
Property Features for 300 Main Street Unit 1A-1
General Information
Standard status
Active
Size
1,090 SF
Property subtype
Retail
Building Details
Building Size
1,090 SF
Listing Agency:
NAI Prime Commercial
Listed By:
Scott Edmond, CCIM · License #IN #RB15000270
(812) 453-3102
Source:
Naiprime
Added: Aug 23
Changed: Oct 3
Last Checked: Oct 12 at 6:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Prime Commercial
Investment Insights
Based on property information with market context.
This 1,090 SF corner retail condominium occupies a visible position along Main Street at NW 3rd Street in downtown Evansville. Windows on multiple sides provide natural light, while separate access points connect the unit to Main Street, Third Street, and the rear parking area. The existing buildout supports retail, food, and service uses and includes a small grease trap, utility sink, and soundproofing. Two reserved parking spaces are located directly behind the unit, with additional curbside access available.
The property sits on the Main Street Walkway between the Ford Center and the riverfront, within a seven-block brick commercial corridor. Nearby destinations include the Civic Center, Victory Theatre, and Bally’s casino, while Old National Bank and CenterPoint Energy contribute to the surrounding daytime employment base. The current tenant is expected to relocate at the end of the existing lease in 1Q27. Potential eligibility for a downtown or riverfront alcoholic beverage permit remains subject to City and ATC approval.
The property sits on the Main Street Walkway between the Ford Center and the riverfront, within a seven-block brick commercial corridor. Nearby destinations include the Civic Center, Victory Theatre, and Bally’s casino, while Old National Bank and CenterPoint Energy contribute to the surrounding daytime employment base. The current tenant is expected to relocate at the end of the existing lease in 1Q27. Potential eligibility for a downtown or riverfront alcoholic beverage permit remains subject to City and ATC approval.
Key Highlights
- 1,090 SF corner retail condominium on Main Street at NW 3rd Street
- Separate entrances from Main Street, Third Street, and the rear parking lot
- Two reserved parking spaces immediately behind the unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,783
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,660
$295.7K
Cap Rate 7%
$211,186
$211.2K
Cap Rate 9%
$164,256
$164.3K
Market Conditions
NOI Build-Up for 1,090 SF
Gross rent
$23.5K $21.60/SF
− Vacancy
−$2.4K −$2.22/SF
EGI
$21.1K $19.38/SF
− OpEx
−$6.3K −$5.81/SF
NOI
$14.8K $13.56/SF
Area
Evansville, IN
Vacancy
10.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,660
Cap Rate 7%
$211,186
Cap Rate 9%
$164,256
Alternative Uses
Best Use
Retail
$211.2K
$184.8K – $246.4K
NOI $14,783 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$270.6K
$236.8K – $315.7K
NOI $18,942 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,992
Businesses Nearby
Explore this area
Business Placement
Demographics for 47708, IN
501
Population
538
Households
0.9
Avg Household Size
39
Median Age
46%
College-Educated
91%
High-School Grad
0.6 sq mi
ZIP Area
835
Density / Sq Mi
$55,436
Median Household Income
$47,750
Median Earnings
$1,154
Median Rent
$241,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Light food service improvements include a grease trap, utility sink, and existing retail buildout.
Where is this retail space located?
The property is located at 300 Main Street Unit 1A-1 Evansville, IN.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,090 SF corner retail condominium on Main Street at NW 3rd Street; Separate entrances from Main Street, Third Street, and the rear parking lot; Two reserved parking spaces immediately behind the unit
