2300 Morgan AveEvansville, IN 47711

Property Details for 2300 Morgan Ave

Year built

1965

Construction

TYPE NOT SPECIFIED

Lot size

16.17 AC

Property size (Sq ft)

114,149 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

82-06-15-017-011.015-027

APU

820615017011015027

Description

This exceptional retail investment opportunity, the Morgan Shopping Center, is strategically located at the highly visible intersection of Morgan Avenue (SR 62) and Boeke Road in Evansville, Indiana. The property boasts a total of 162,394 square feet across three buildings, offering a diverse range of retail spaces. Currently, there is 11,550 square feet of vacant space available, divisible into units as small as 2,550 square feet and with a maximum contiguous space of 11,550 square feet, providing flexibility for various business needs. Built in 1966 and renovated in 1995, the center benefits from ample parking with 1055 spaces. The property is zoned C-4, allowing for a variety of commercial uses. Its prime location, just one mile from the Lloyd Expressway and Highway 41, ensures high visibility and accessibility for customers. The property's APN is 82-06-15-017-011.015-027. This well-established shopping center presents a compelling opportunity for investors seeking a strong foothold in a thriving Evansville market. The property's diverse tenant mix and significant available space offer potential for immediate income generation and long-term growth. The convenient location and ample parking make it an attractive destination for shoppers and businesses alike. This is a rare chance to acquire a substantial retail property in a desirable area with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $28,987,630

  6.5%

  $26,757,812

  7%

  $24,846,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,761,384

  Geo Method

  $24,761,384

• Alternative Use

  Use

  Valuation

  Residential

  $22,571,216

  Hospitality

  $20,675,112

  Educational

  $17,201,450

  Medical

  $17,793,034

  Retail

  $26,757,812

Location Insight

City

Evansville

County

Vanderburgh

State

Indiana

Latitude

37.993

Longitude

-87.5215

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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