Versatile Event Venue For
8335 Eagle Lake Drive Evansville, IN
8335 Eagle Lake Drive, Evansville, IN, 00000
Contact for pricing
For Sale
Contact for pricing
Turnkey event center suitable for retail, restaurant, or office.
Property Size7,233 SF
Lot Size1.31 Acres
Price / SF$179.73
Days on Market326
Property Features for 8335 Eagle Lake Drive
General Information
- Standard status
- Active
- Size
- 7,233 SF
- Lot size
- 1.31 Acres
- 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: Aug 27, 2025 Checked: Jul 17 at 5:53 am
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 7,233 square foot property is currently occupied by Sweetwater Events Center, an entertainment venue suitable for wedding receptions and parties. It features a full kitchen equipped with ovens, stoves, a walk-in cooler, a freezer, and a dishwasher. The property includes tables, dishes, and a bar. It is suitable for retail, restaurant, or bar use, and could also function as a professional office. The property offers a lake view and a patio in the rear. The location provides high visibility from I-69, with neighbors including Cracker Barrel, hotels, and restaurants. There is an upstairs office and storage area, along with approximately 80 parking spaces. The property includes a large entry lobby with two restrooms, one with four stalls for women and another with two stalls and two urinals for men. A large office/dressing room off the entry lobby is frequently used as a changing room. The upstairs office includes a restroom and shower, along with a large storage closet containing four furnace units and a security system. The property features a large enclosed patio with four glassed garage doors, accommodating 11 tables, and a large outdoor patio that holds 15 tables. The main event area has a raised stage and a seating capacity of 180 people with 16 large, round tables. The entire building has a capacity of 250 people. The large kitchen includes a Manitowac ice maker, dishwasher, walk-in cooler, walk-in freezer, large Avtec ventilation hood, two stove/ovens, refrigerator, three-compartment sink, two pizza ovens, six stainless steel work tables, and a microwave. There are three 200 amp electrical panels, totaling 600 amps. The bar area includes a three-compartment sink, a two-bay beer/drink cooler, and a large ice sink holder.
Key Highlights
- High visibility location from I‑69.
- Fully equipped commercial kitchen with walk‑in cooler/freezer, multiple ovens, and extensive equipment.
- Large event space with a seating capacity of 180 and total building capacity of 250.
Local Financial Insights For 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 | $156.2k | $21.60 |
| − Vacancy | −$16.1k | −$2.22 |
| EGI | $140.1k | $19.38 |
| − OpEx | −$42.0k | −$5.81 |
| NOI | $98.1k | $13.56 |
7,233 SF · lease $21.60/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,778 @ 7.0% cap · market cap 9.21%
Second Best
Retail
$1.40M
$1.23M – $1.63M
NOI $98,099 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$1.80M
$1.57M – $2.09M
NOI $125,694 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sweetwater Event Center
Hotel & Motel
Similar For Sale Nearby
FAQs
What type of property is this?
Turn key restaurant - Turnkey event center suitable for retail, restaurant, or office.
Where is this turn key restaurant located?
The property is located at 8335 Eagle Lake Drive Evansville, IN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High visibility location from I‑69.; Fully equipped commercial kitchen with walk‑in cooler/freezer, multiple ovens, and extensive equipment.; Large event space with a seating capacity of 180 and total building capacity of 250.
