3901 Highway 41 N Evansville, IN 47711
Property profile & analytics
3901 Highway 41 N, Evansville, IN 47711
- Turn key restaurants
- 5,450 SF
- 1.01 lot acres
Property ID
US31-2833661
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Denny's / Restaurant
- The Burger Den / Restaurant / Take-out & Catering
Property Details for 3901 Highway 41 N
- Year built
- 1992
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.01 lot acres
- Property type
- Turn key restaurants
- APN
- 82-06-09-034-406.002-020
- APU
- 820609034406002020
Description
This exceptional investment opportunity presents a fee-simple, 5,450-square-foot building currently leased to a Denny's franchisee under an absolute NNN lease. Located at 3901 Hwy 41 N in Evansville, Indiana (Vanderburgh County, zip code 47711), this property boasts a strong location with excellent visibility and access from Hwy 41, experiencing 35,000 vehicles per day. The lease commenced January 1, 2000, and features a below-market rent of $13.76 per square foot, translating to a substantial $75,000 annual net operating income (NOI) and a 5.56% cap rate. The asking price is $1,350,000, representing $247.71 per square foot. The property sits on a 1.01-acre lot and benefits from a 10% rent increase every five years, with the next increase scheduled for March 2028. The building is situated adjacent to a Comfort Inn & Suites, sharing access. The five-mile radius boasts a population of 134,000 with an average household income of $61,860, indicating a strong market for this type of establishment. This is a rare opportunity to acquire a well-performing, low-maintenance investment with significant upside potential. The tenant's strong sales history and the below-market rent suggest a high likelihood of lease renewal. The property is considered below replacement cost.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Evansville
- County
- Vanderburgh
- State
- Indiana
- Longitude
- -87.5384
- Latitude
- 38.0132
- CBSA code
- 21780
- CBSA name
- EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$12,354
$198,000
$191,500
$389,500
-
$198,000
$191,500
$389,500
