Taco Bell Ground Lease
New
For Sale
$1,900,000
3251 N Green River Rd, Evansville, IN 47715
The property is offered under a 15-year NNN ground lease.
Property Size4,120 SF
Price / SF$461.17
Days on Market5
Property Features for 3251 N Green River Rd
General Information
Standard status
Active
Size
4,120 SF
Property subtype
Restaurant
Additional Details
Cap Rate
5.15%
Amenities
New 15-Year NNN Ground Lease with 10% Increases Every 5 Years
Strong Guaranty (96+ Locations), a Wholly Owned Subsidiary of the Flynn Group
Flynn Group is the World's Largest Franchisee Operator of Restaurants and 3rd Largest Taco Bell Franchisee
Taco Bell Averages $2.2+ Million in Unit-Level Sales, Equates to 4.5% Rent-to-Sales Ratio at This Location
Significant Tenant Investment in New Taco Bell Prototype with a Drive-Thru
Serving 125,000+ Residents in Growing Trade Area
Across from High-Performing Schnucks Grocery Anchored Center
Regional Retail Hub Surrounded by a New Costco, Walmart, Target, Menards, Meijer, Home Depot, Lowe's and Many More
Building Details
Building Size
4,120 SF
Tenancy
Single
Listing Agency:
Marcus & Millichap | San Diego
Listed By:
Phil Sambazis · License #License(s): CA: 01474991
(858) 373-3174
Source:
Marcusmillichap
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 5 at 3:07PM
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 Marcus & Millichap | San Diego
Investment Insights
Based on property information with market context.
This Taco Bell restaurant property is offered with a 15-year NNN ground lease. It is located at 3251 N Green River Rd in Evansville, Indiana.
Key Highlights
- Taco Bell restaurant property
- 15‑year NNN ground lease
- 3251 N Green River Rd, Evansville, IN 47715
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,227
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,364,540
$1.4M
Cap Rate 7%
$974,671
$974.7K
Cap Rate 9%
$758,078
$758.1K
Market Conditions
NOI Build-Up for 4,120 SF
Gross rent
$98.9K $24.00/SF
− Vacancy
−$7.9K −$1.92/SF
EGI
$91.0K $22.08/SF
− OpEx
−$22.7K −$5.52/SF
NOI
$68.2K $16.56/SF
Area
Evansville, IN
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,364,540
Cap Rate 7%
$974,671
Cap Rate 9%
$758,078
Alternative Uses
Best Use
Specialty Retail
$974.7K
$852.8K – $1.14M
NOI $68,227 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$895.0K – $1.19M
NOI $71,597 @ 7.0% cap · market cap 3.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47715, IN
28,959
Population
14,451
Households
2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
22.0 sq mi
ZIP Area
1,316
Density / Sq Mi
$59,821
Median Household Income
$40,137
Median Earnings
$1,009
Median Rent
$191,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The property is offered under a 15-year NNN ground lease.
Where is this conventional restaurant located?
The property is located at 3251 N Green River Rd Evansville, IN.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Taco Bell restaurant property; 15‑year NNN ground lease; 3251 N Green River Rd, Evansville, IN 47715
