15001 Foundation AveEvansville, IN 47725

Property Details for 15001 Foundation Ave

Year built

2021

Construction

TYPE NOT SPECIFIED

Lot size

11.72 AC

Property size (Sq ft)

75,000 SF

Property type

Industrial properties

Property subtype

Other warehouses

APN

82-04-01-009-277.015-030

APU

820401009277015030

Description

This exceptional investment opportunity presents a 75,000-square-foot, single-tenant industrial distribution center in Evansville, Indiana. The property, built in 2021, is situated on an 11.72-acre lot within the Vanderburgh Industrial Park, boasting 17 dock-high doors and ample parking (69 spaces). Currently leased to Frito-Lay, a credit tenant with an "A+" S&P Global Credit Rating, the property features a NNN lease with just under seven years remaining on the primary ten-year term, including three five-year renewal options. The first renewal option includes a CPI increase. The building is of concrete tilt construction, including the access drive, employee parking, and truck loading areas. Its strategic location offers excellent interstate access via I-69 and I-64, placing major Midwest cities within a three-hour drive. The property's strong location within an established industrial corridor, alongside companies like Amazon and Graham Packaging, contributes to its high value and low vacancy potential. The asking price is $11,000,000, representing a 6.50% cap rate. The property is zoned M-2. This is an ideal investment for passive investors seeking minimal landlord responsibilities and strong returns. The property features a large concrete fenced/gated trailer parking area.

• Alternative Use

  Use

  Valuation

  Residential

  $14,830,101

  Hospitality

  $13,584,293

  Educational

  $11,301,972

  Medical

  $11,690,664

  Retail

  $17,580,846

Location Insight

City

Evansville

County

Vanderburgh

State

Indiana

Latitude

38.1137

Longitude

-87.4834

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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