707 State StNewburgh, IN 47630

Property Details for 707 State St

Year built

2018

Construction

WOOD

Lot size

1.63 AC

Property size (Sq ft)

10,314 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

87-12-34-402-014.000-014

APU

871234402014000014

Description

This exceptional 1,237 square foot retail storefront is located at 707 State Street in Newburgh, Indiana, within a larger 10,314 square foot building constructed in 2018. The property sits on a 1.63-acre lot, offering ample space and visibility. Currently, one suite is immediately available, boasting a lease rate of $2,250 per month, triple net (NNN). This space is part of a multi-tenant building with a total of four suites. The property enjoys a highly desirable location at the intersection of Sharon Road and State Street, benefiting from significant traffic volume, averaging 6,264 cars per day. The building is zoned commercial and features a convenient location anchored by the popular Tin Fish Restaurant, ensuring high foot traffic and visibility for your business. The property's APN is 87-12-34-402-014.000-014, and it is situated in Warrick County. This is a fantastic opportunity for a business seeking a well-located, modern retail space in a thriving area. The minimum divisible space is 1,237 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $2,619,194

  6.5%

  $2,417,718

  7%

  $2,245,024

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,237,330

  Geo Method

  $2,237,330

• Alternative Use

  Use

  Valuation

  Residential

  $2,039,436

  Hospitality

  $1,868,112

  Educational

  $1,554,247

  Medical

  $1,607,700

  Retail

  $2,417,718

Location Insight

City

Newburgh

County

Warrick

State

Indiana

Latitude

37.9509

Longitude

-87.4044

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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