2418 1st Ave Evansville, IN 47710-2952

This exceptional Evansville, Indiana storefront presents a compelling net lease investment opportunity. The 16,000-square-foot property, built in 1983, sits on a 1.75-acre lot zoned C-4 General Commercial and boasts a strong 100% occupancy rate since November 30, 2021. Currently leased under a single, five-year NNN lease with two five-year renewal options, the property generates a substantial $60,000 annual net operating income (NOI), representing a 7.55% cap rate. The asking price is $795,000, or $49.69 per square foot. Annual rent increases of $125 are built into the lease, providing predictable growth. The property enjoys a high-visibility location on North First Avenue, a bustling commercial corridor near major retailers like Walmart and CVS, ensuring consistent foot traffic. Additional income potential exists through an on-site billboard and the ample space on the lot for potential future development. This investment offers a secure, stable income stream in a thriving commercial area, making it an attractive opportunity for investors seeking long-term returns. The property features one story and is located at 2418 N First Ave, Evansville, IN 47710 (APN: 82-06-18-034-157.003-020).