2825 Broadway StPrinceton, IN 47670

Property Details for 2825 Broadway St

Year built

1996

Lot size

1.00 AC

Property size (Sq ft)

3,793 SF

Property type

Turn key restaurants

APN

26-11-11-300-004.086-028

APU

261111300004086028

Description

This 3,832 square foot retail property, located at 2825 W Broadway St, Princeton, IN 47670, is available for lease or ground lease. Situated on a busy signalized intersection in the Town Fair Shopping Center across from a Walmart Supercenter, this single-tenant building boasts excellent visibility and high traffic counts (18,600 AADT on West Broadway Street and 16,533 AADT on US-41). The property sits on approximately one acre of land and includes 85 parking spaces. Built in 1995, the building is currently operating as a Bob Evans restaurant until April 26th, presenting a redevelopment opportunity. The property benefits from a cross easement access and is surrounded by national retailers such as Walmart, GMC, Maurices, and Dollar Tree. Zoned commercial (APN: 26-11-11-300-004.086-028), this location offers flexible development options. The asking rate for a ground lease is $10,000 per month NNN, while a lease of the existing building is offered at $30 per square foot NNN, with a preferred lease term of 120 months. The property is also available for sale at $1,800,000 as-is.

• CAP approach

  CAP return

  Valuation

  6%

  $963,215

  6.5%

  $889,122

  7%

  $825,613

• Comparable approach

  Method

  Valuation

  Relative Method

  $822,784

  Geo Method

  $822,784

• Alternative Use

  Use

  Valuation

  Residential

  $750,008

  Hospitality

  $687,003

  Educational

  $571,578

  Medical

  $591,236

  Retail

  $889,122

Location Insight

City

Princeton

County

Gibson

State

Indiana

Latitude

38.3551

Longitude

-87.606

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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