Freestanding Drive-Thru
3910 E Morgan Ave Evansville, IN 47715
3910 E Morgan Ave, Evansville, IN, 47715
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For Sale
Contact for pricing
Freestanding restaurant building with a drive-thru lane and full basement, available for NNN lease in Evansville.
Property Size3,371 SF
Price / SF$341.15
Days on Market34
Property Features for 3910 E Morgan Ave
General Information
- Standard status
- Active
- Size
- 3,371 SF
- Property subtype
- RETAIL
Listing agency
SVN | The Martin Group
(812) 573-3500
Listed by
Andy Martin · License #KY301237
(812) 573-3500
Source
Moodyscre
Added: Jun 18 Updated: Jul 21 at 2:40PM Checked: Jul 21 at 2:40PM
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 SVN | The Martin Group
Investment Insights
Based on property information with market context.
This freestanding restaurant property is being offered as an NNN lease and includes a drive-thru lane plus a full basement. The layout provides room for operational back-of-house use with additional storage capacity away from the main customer area.
The building is located at a prominent signalized stoplight on E Morgan Ave, supporting convenient ingress and egress with strong daily visibility from vehicular traffic.
The seller has estimated RE taxes at $22,422 per year. The property is listed for sale at $1,150,000 and has a total size of 3,371 square feet.
The building is located at a prominent signalized stoplight on E Morgan Ave, supporting convenient ingress and egress with strong daily visibility from vehicular traffic.
The seller has estimated RE taxes at $22,422 per year. The property is listed for sale at $1,150,000 and has a total size of 3,371 square feet.
Key Highlights
- Freestanding former Salsarita’s restaurant building available for NNN lease at 3910 E Morgan Ave in Evansville, IN
- Drive‑thru lane on‑site for quick‑service operations
- Full basement provides additional space for inventory storage and operations away from the main customer floor
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.9k | $24.00 |
| − Vacancy | −$6.5k | −$1.92 |
| EGI | $74.4k | $22.08 |
| − OpEx | −$18.6k | −$5.52 |
| NOI | $55.8k | $16.56 |
3,371 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$797.5K
$697.8K – $930.4K
NOI $55,824 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$836.9K
$732.3K – $976.4K
NOI $58,581 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Salsarita's Fresh Mexican ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Freestanding restaurant building with a drive-thru lane and full basement, available for NNN lease in Evansville.
Where is this drive through restaurant located?
The property is located at 3910 E Morgan Ave Evansville, IN.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Freestanding former Salsarita’s restaurant building available for NNN lease at 3910 E Morgan Ave in Evansville, IN; Drive‑thru lane on‑site for quick‑service operations; Full basement provides additional space for inventory storage and operations away from the main customer floor
