2333 Washington Ave Evansville, IN 47714
- Office Properties & Spaces
- 2,078 SF
Current Use by Public Records
- Evansville Family Chiropractic / Chiropractor
- Kirk Wayne F DC / Chiropractor
Property Details for 2333 Washington Ave
- Year built
- 1940
- Property size
- 2,078 SF
- Property type
- Office Properties & Spaces
Description
This fee-simple, stabilized investment property located at 2333 Washington Ave, Evansville, IN 47714, presents a compelling opportunity. The 2,078 square foot building, constructed in 1940, is a Class B, single-story structure with a modified lease in place. Currently boasting 100% occupancy with two tenants, the property generates a substantial net operating income (NOI) of $26,801, resulting in an attractive 8.93% capitalization rate. The asking price is $300,000, translating to a price per square foot of $144.37. The building features a mix of uses, including a residential unit and office space, making it potentially suitable for owner-occupancy or continued multi-tenant operation. The five-year lease term provides stability and predictable income. Situated on a high-traffic thoroughfare, the property benefits from excellent visibility and accessibility. Its proximity to Eastland Mall, various restaurants, Wesselman Woods Nature Preserve, Burdette Park, and the University of Evansville enhances its appeal and potential for future growth. This is an exceptional opportunity for investors seeking a strong return on investment in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Evansville
- County
- Vanderburgh
- State
- Indiana
- Longitude
- -87.5212
- Latitude
- 37.9625
