Freestanding Restaurant with
5232 Weston Rd Evansville, IN 47712
For Sale
Contact for pricing
Freestanding, fully built-out restaurant with furniture, fixtures, and restaurant equipment in place along a major retail corridor.
Property Size3,337 SF
Price / SF$419.54
Days on Market129
Property Features for 5232 Weston Rd
General Information
Standard status
Active
Size
3,337 SF
Property subtype
RETAIL
Listing Agency:
Mike Richardson Real Estate
(812) 480-7454
Listed By:
Mike Richardson, CCIM · License #RB14027149
(812) 480-7454
Source:
Moodyscre
Added: Mar 23
Changed: Jul 26
Last Checked: Jul 29 at 3:48PM
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 Mike Richardson Real Estate
Investment Insights
Based on property information with market context.
This freestanding restaurant is fully built out and ready for immediate occupancy, with furniture, fixtures, and restaurant equipment still in place. The seller can provide a complete list of items upon request.
The property is located on the west side of the Evansville retail corridor in front of the Lowe’s Home Improvement store, near the intersection of The Lloyd Expressway and Redbank Road. The surrounding area includes national and regional retailers and businesses such as Lowes, CVS, Home Depot, Walmart, banks, and multiple dining and entertainment operators.
Designed for restaurant use as currently configured, the building represents a turnkey setup for a restaurant operator seeking a ready-to-operate space.
The property is located on the west side of the Evansville retail corridor in front of the Lowe’s Home Improvement store, near the intersection of The Lloyd Expressway and Redbank Road. The surrounding area includes national and regional retailers and businesses such as Lowes, CVS, Home Depot, Walmart, banks, and multiple dining and entertainment operators.
Designed for restaurant use as currently configured, the building represents a turnkey setup for a restaurant operator seeking a ready-to-operate space.
Key Highlights
- Freestanding, fully built‑out restaurant in Evansville, IN with furniture, fixtures, and restaurant equipment in place
- On the busy west side retail corridor in front of the Lowes Home Improvement store
- Adjacent to national anchors including Lowe's
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 | $80.1k | $24.00 |
| − Vacancy | −$6.4k | −$1.92 |
| EGI | $73.7k | $22.08 |
| − OpEx | −$18.4k | −$5.52 |
| NOI | $55.3k | $16.56 |
3,337 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$789.4K
$690.8K – $921.0K
NOI $55,261 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$828.4K
$724.9K – $966.5K
NOI $57,990 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding, fully built-out restaurant with furniture, fixtures, and restaurant equipment in place along a major retail corridor.
Where is this conventional restaurant located?
The property is located at 5232 Weston Rd Evansville, IN.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Freestanding, fully built‑out restaurant in Evansville, IN with furniture, fixtures, and restaurant equipment in place; On the busy west side retail corridor in front of the Lowes Home Improvement store; Adjacent to national anchors including Lowe's
