For Sale
$2,800,000

1449 Kimber LnEvansville, IN 47715

17,916 SF Class A Office Building, Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
118
Exceptional investment opportunity in Evansville, Indiana. This Class A, 17,916 square foot office building, known as Waterford Plaza, is situated on a 1.99-acre lot (APN: 09-635-16-135-009) at 1449 Kimber Ln, Evansville, IN 47715. Built in 1999, the single-story building features a C-2 zoning designation. The property boasts a strong rent roll with actual and proforma income statements available, showcasing longer-term triple net (NNN) leases with built-in rent increases. Currently (as of March 19, 2024), there are two vacancies presenting a significant value-add opportunity for a new owner. The building's prime location on Evansville's east side offers convenient access to dining, shopping, housing, and entertainment. Recent capital improvements include a complete roof, fascia, and gutter replacement in 2024, and four HVAC rooftop units were replaced in 2023. The asking price is $2,800,000, translating to $156.28 per square foot. This property is ideal for investors seeking a stable, income-producing asset with immediate upside potential. The property is suitable for medical and traditional office uses, as well as financial businesses.

Highlights

  • Class A, 17,916 SF office building in Evansville, IN on a 1.99-acre lot.
  • Strong rent roll with NNN leases and built-in rent increases.
  • Two vacancies (as of 3/19/2024) offer value-add potential.
  • Recent capital improvements include roof, fascia, gutter (2024) and HVAC (2023) replacements.
  • Asking price: $2,800,000 ($156.28/SF).

Property Details for 1449 Kimber Ln

Property type
Office properties, Medical offices
Square Feet
17,916 SF
Class
A
Year Built
1999
Buildings
1
Stories
1
Lot Size (sq. ft)
86,684 SF

Location Insight

City
Evansville
County
Vanderburgh
State
Indiana
Latitude
37.989945701031
Longitude
-87.477320811178
1449 Kimber Ln, Evansville, Indiana

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1449 Kimber Ln
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