1419 2Nd St Evansville, IN 47713
- Commercial real estate
- 2,781 SF
- 0.10 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1419 2Nd St
- Year built
- 1914
- Lot size
- 0.10 lot acres
- Property size
- 2,781 SF
- Property type
- Commercial real estate
Description
This Evansville, Indiana mixed-use investment property, located at 1419 SE 2nd St, offers a compelling opportunity for investors. The 2-story, 2,781 square foot building, constructed in 1914, sits on a 0.1-acre lot and boasts four one-bedroom, one-bathroom units. Currently, the occupancy rate is 50%, with two units rented and two vacant. The net rentable square footage is 2,292 square feet, generating a Net Operating Income (NOI) of $22,801, resulting in an attractive 10.61% capitalization rate. The asking price is $214,900. This property is ideally situated just steps from the Haynie's Corner Arts District, providing convenient access to local restaurants and events. The seller is open to exploring unique financing options. This presents a unique chance to acquire a property with significant upside potential in a vibrant and growing area. The property's location and existing structure offer a solid foundation for a savvy investor seeking a strong return on investment. The vacant units provide an immediate opportunity to increase occupancy and NOI.
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
- -87.5632244
- Latitude
- 37.9575304
