950 Parrett StEvansville, IN 47713

Property Details for 950 Parrett St

Year built

1909

Construction

WOOD

Lot size

0.28 AC

Property size (Sq ft)

11,286 SF

Property type

Turn key restaurants

APN

82-06-29-021-084.001-029

APU

820629021084001029

Description

This exceptional 11,286 square foot restaurant space is available for sale at $950,000. Located at 950-956 Parrett Street in Evansville, Indiana, this property boasts a prime location in the heart of the city's vibrant arts district. The property is currently vacant, presenting a unique opportunity for a new restaurant concept or an established business seeking expansion. The building is categorized as retail, with a specific subtype of restaurant. The lease type is NNN (Net, Net, Net), meaning the tenant is responsible for property taxes, insurance, and maintenance. The property's APN is 82-06-29-021-084.001-029. Situated in Vanderburgh County, Indiana, with a zip code of 47713, this property offers excellent visibility and accessibility. Its central location within the arts district provides a unique atmosphere and potential for attracting a diverse clientele. The substantial square footage allows for ample space for dining, kitchen operations, and additional amenities. This is an exceptional opportunity to acquire a well-situated property in a thriving area of Evansville. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $2,866,030

  6.5%

  $2,645,566

  7%

  $2,456,597

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,448,177

  Geo Method

  $2,448,177

• Alternative Use

  Use

  Valuation

  Residential

  $2,231,634

  Hospitality

  $2,044,164

  Educational

  $1,700,721

  Medical

  $1,759,211

  Retail

  $2,645,566

Location Insight

City

Evansville

County

Vanderburgh

State

Indiana

Latitude

37.9636

Longitude

-87.5657

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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